Remittances to Egypt rose more than 40% year-over-year to hit a record $41.5 billion USD in 2025 and are on track to continue the trend in 2026, according to the Central Bank of Egypt (CBE).
Expats who send money to Egypt from their new homes abroad are helping to support the Egyptian economy, which is struggling to recover after heavy spending and global events like the Russia-Ukraine war and the conflict in Iran. In addition to bolstering the country’s faltering foreign currency reserves, the increase in remittances also provides a cushion of financial safety for Egyptian families who remain back at home.
Key takeaways
- Remittances to Egypt continue to rise, hitting a 40% increase in 2025 compared to the previous year.
- After Egypt’s economic crisis of 2022-2024, its government implemented currency reforms that affected the Egyptian pound and made it more attractive to send remittances through official channels.
- Conflicts like the Russia-Ukraine war and the Iran war disrupted the tourism dollars that are so important to Egypt’s economy, which forced more Egyptians to leave the country to find work.
- Increased migration means more Egyptians moved abroad and are now sending a portion of their earnings home to their families.
Why expats are sending more money to Egypt
Several factors both inside and outside of Egypt’s borders contribute to the increase to Egypt’s remittances.
The Egyptian economy suffered an economic crisis around 2023, shouldering both a currency shock and crippling inflation that topped 38%. Both tourism and the oil industry — major economic forces for Egypt — were shaken by the global pandemic.
At the same time, high unemployment and rising prices pushed more and more Egyptians to migrate out of the country in search of other opportunities. The Egyptian diaspora numbers roughly 14 million people, compared to the country’s population of about 120 million. Many are concentrated in Gulf Cooperation Council countries as well as the US, Canada, and Europe.
The Egyptian government implemented currency reforms in 2024 to allow the exchange rate to float freely; the USD to EGP exchange rate moved from $1 = £30 to $1 = £49 seemingly overnight. exchange rate moved from $1 = £30 to $1 = £49 seemingly overnight. Egypt also hiked interest rates to lower inflation and revamped its approach to foreign direct investment to attract investors and boost growth.
The result is more Egyptians working abroad, more money coming in from overseas, and more remittances to Egyptian families.
Which countries are sending the most money to Egypt?
According to the World Bank, the majority of the Egyptian diaspora lives in:
- Saudi Arabia
- United Arab Emirates
- Kuwait
- Qatar
- Jordan
- Italy
- United States
Egypt’s migrant community serves a critical role in supporting the economy and success of their homeland. Remittances to Egypt represent 7.6% of the country’s gross domestic product (GDP) and its third-largest source of foreign currency, after exports and foreign direct investment.
The funds they send home to Egypt from abroad help provide stable income, put food on the table for families, and help cushion the country from economic shocks, like the crisis of 2022-2024. Sometimes, the money coming in also helps Egyptian families enter the financial market for the first time, boosting consumption and contributing to economic growth.
Why remittances to Egypt matter
Egypt’s remittances are a lifeline for families and a critical source of foreign currency for the country’s balance sheet.
Economic impact
Remittances were the main driver behind Egypt’s narrowing trade deficit, shifting the balance of payments toward neutral. They serve as a “shock absorber” for the economy and also help to offset disruptions in Suez Canal revenues. Importantly, remittances also redirect expat money away from black-market transfer channels and back into the country’s banking system, bolstering foreign reserves.
Personal impact
At the personal level, remittances help alleviate the poverty level in Egypt, where 30% live below the poverty line. These transfers help cover daily living expenses, including costs like groceries or tuition. And just as the aggregate of remittances to Egypt buffer the country as a whole, so do individual remittances to families. As a nation reliant on imports, money transfers to individual households help families weather inflation shocks that could otherwise destroy their budget.
Timing transfers and getting the best rates for Egypt remittances
For Egyptian expats, helping your money go further can have a big impact on family back home. There are two effective ways to get more for your remittances to Egypt: timing your transfer for a good exchange rate, and choosing a trusted money transfer provider.
Exchange rate timing
The value of the Egyptian pound has stabilized so far, but as war continues in Iran, the exchange rate could become more volatile. Tracking exchange rate trends over days and weeks can help you identify the best times to transfer money so that more pounds land in your family’s account.
Choosing a trusted provider
Part of finding a good exchange rate is choosing a provider that shows you rates and fees up front. You should feel comfortable knowing that your money will arrive quickly and safely, too. With fewer delays, transparent rates, and secure transfers, your family can get the money they need, whether it’s to pay for school, groceries, medical care, or anything else.
Will remittances to Egypt keep growing?
Remittances to Egypt continue to hit record levels as of March 2026, increasing by $8.5 billion over the same period the previous fiscal year, according to the Central Bank of Egypt. With demand for Egyptian workers remaining high, especially in Gulf markets, and Egyptian migration staying strong, there’s a solid opportunity for the trend to continue.
Make the most of your remittances to Egypt by downloading the Western Union app to send money, track exchange rate shifts, and schedule repeat transfers to family back home.
Send money now online, in the app, or at a Western Union location near you.
FAQs
Several factors contribute to the sharp increase in remittances to Egypt, including more Egyptians working abroad and currency reforms that restored confidence in the country’s central banking system.
The majority of Egyptian expats working abroad and sending money home live in Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Jordan, Italy, and the United States.
The liberalization of Egypt’s exchange rate, or the process of allowing it to float and change according to supply and demand, makes it much easier and more attractive for expats to send money through official channels. That increases trackable remittances and contributes to the economy.
Remittances are very important to Egypt’s economy, serving as one of its largest sources of foreign currency. They help insulate the country from drastic economic shocks and provide income for families, especially benefiting those who live alongside the poverty line.
