Egyptians abroad transferred $17B in FY2015/16

CAIRO – 31 October 2017: Remittances of Egyptian expats reached $17 billion in fiscal year 2015/16, programs manager of the International Organization for Migration (IOM) Toiota Graziani said Tuesday.

Speaking at the conference that launched Egypt’s industrial investment map, Graziani said that these transfers surpassed revenues of the Suez Canal, tourism and foreign direct investment.

Graziani added that the number of Egyptians’ abroad reached 9.5 million, as per the latest population census issued by the Central Agency for Public Mobilization and Statistics (CAPMAS).

“Remittances of Egyptian expats can be used as capital in various projects that aim for industrial development,” Graziani noted.