RIYADH: According to new data, Saudi Arabian expatriate remittances jumped to SR12.78 billion ($3.41 billion) in February, a 37.04 percent rise over the same month the previous year. According to data from the Saudi Central Bank, or SAMA, transfers made by Saudi citizens increased by 33.53 percent to SR6.24 billion during the same time period. This increase is a result of both domestic labor market dynamics and more general global forces.
The Kingdom’s booming economy, especially the implementation of Vision 2030 megaprojects, is primarily to blame for the steep increase in demand for foreign workers. Wage increases in important industries improved along with hiring, increasing the sending power of foreign workers.
Tuscan Consulting’s 2025 compensation Guide for the UAE and Saudi Arabia states that nationalization regulations, talent demand, and economic growth all have an impact on compensation patterns in both nations.
The rise in Vision 2030 megaprojects in the Kingdom has increased demand for qualified workers, which has resulted in competitive pay packages, especially in industries like healthcare, technology, and finance. Employers continue to provide alluring incentives to retain top people, even though wage growth have decreased in comparison to the post-pandemic period.
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