Gulf states are among the best countries in the world for sending cash overseas

The United Arab Emirates is one of the cheapest places in the world from which to send remittances to foreign countries, according to the World Bank.

Migrant workers in Saudi Arabia also pay among the lowest fees to transfer money home, with the entire Gulf region highlighted as the best globally, despite costs rising last year.

“Whilst the costs in these markets can vary from month to month, their competitiveness in comparison to other sending markets in the sample reflects the fact that the Gulf region is amongst the cheapest for remittances globally thanks to the high level of competition achieved in these markets,” a World Bank statement said.

South Asia is the cheapest region to send money to, with an average of 6.54 percent.

http://www.arabianbusiness.com/uae-among-cheapest-for-remittances-world-bank-487793.html