Financial Times FT.com

Migrant income set to fall

By Heba Saleh in Cairo and Anna Fifield in Beirut

Published: January 5 2009 17:44 | Last updated: January 5 2009 17:44

With one or two exceptions, the Arab countries of the Middle East fall neatly into two categories; those that export hydrocarbons and those that export labour.

While the first group now faces the threat of a prolonged period of low oil prices, the second has to grapple with the prospect of a decline in remittance flows from expatriates, whether they work in the wealthier oil-producing parts of the region or elsewhere in the world.

Armajeet Singh, center facing camera, of Mickey's Market, in the borough of Queens, N.Y, helps a woman send money via Western Union, Sept. 25, 2007. To glimpse how migration is changing the world, consider Western Union, a fixture of American lore that went bankrupt selling telegrams in the Internet age but now earns nearly $1 billion a year helping poor migrants across the globe send money home.
Workers abroad send money back home

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this