Egypt Ranks 7th Globally in Remittance Inflows in 2024

Egypt has ranked seventh globally in remittance inflows for 2024, receiving a total of USD 22.7 billion, according to the Central Agency for Public Mobilization and Statistics (CAPMAS) in honour of the International Day of Family Remittances. The day was established by the UN General Assembly in 2018 to acknowledge the vital contributions of migrants to their families and home economies, particularly in rural and impoverished areas.

This year’s observance highlights the growing role of remittances in local development and climate resilience, emphasizing financial inclusion, digital infrastructure, cost reduction, and the integration of remittances into national development strategies. Around 75% of these transfers are spent on essential needs like food, healthcare, and education, with the remaining 25% directed toward investment, savings, or small business ventures.

The 2024 International Migration Report noted that the global migrant population has reached 281 million, representing one in every 30 individuals. Since 2000, global remittance flows have increased sharply, rising from USD 128 billion to USD 831 billion in 2024. Over the past decade, remittances to low- and middle-income countries have surpassed USD 5 trillion, with projections reaching USD 4.4 trillion more by 2030. About one-third of this future sum is expected to benefit rural communities.

In addition, a unified digital app is being developed to integrate services and incentives for Egyptians abroad, while housing units and land parcels continue to be made available to expatriates through official online platforms.