{"id":594605,"date":"2019-09-02T03:51:57","date_gmt":"2019-09-02T03:51:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/"},"modified":"2019-09-02T03:51:57","modified_gmt":"2019-09-02T03:51:57","slug":"remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/","title":{"rendered":"Remittances are outpacing FDI and foreign aid as developing countries\u2019 biggest source of foreign capital"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <b>Remittances are officially set to outpace FDI, aid, and private capital flows as the biggest source of foreign capital in developing countries this year<\/b>, <a href=\"https:\/\/ig.ft.com\/remittances-capital-flow-emerging-markets\/\">the Financial Times says<\/a>. As FDI levels from advanced economies is dipping, economists expect the reliance on remittances to remain strong, and continue serving as a \u201clifeline\u201d for developing economies. \u201cRemittances are \u2018a relatively stable source of foreign currency in the current account, and that feeds directly into our sovereign ratings,\u2019 says James McCormack of Fitch Ratings. \u2018In the case of a country like the Philippines, Egypt or Nigeria, their current account positions would be much weaker in the absence of remittance flows.\u201d In 2018, Egypt was one of the world\u2019s top recipients of remittances, with inflows of Egyptians working abroad reaching USD 29 bn by the end of the year, <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/10\/egypt-was-the-worlds-fifth-top-recipient-of-remittances-in-2018-3\/\">according to World Bank figures<\/a>. FDI in Egypt has also been in decline, with non-oil FDI in 1Q2019 <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/07\/egypts-current-account-deficit-almost-doubles-in-3q2018-2019\/\">falling to its lowest levels since 2014<\/a>.<\/p>\n<p><b>\u201cNo country is ever going to get rich from remittances\u201d:<\/b> The salmon-colored paper had <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/20\/ems-look-to-lure-remittances-into-diaspora-bonds-to-finance-economic-growth\/\">noted last month<\/a> that a number of emerging markets are trying to lure remittances into diaspora bonds for productive investment to offset low FDI, but these bonds remain \u201ca niche part of financial markets.\u201d Although remittances play a key role in developing economies, particularly when it comes to their balance of payments and credit ratings, they also provide a cushion for individuals\u2019 incomes in the midst of slow economic growth. That, in turn, tends to give governments what can sometimes be too much breathing room in terms of policy reform to spur growth and raise standards of living. As long as the domestic job market fails to provide truly attractive alternatives, the push to emigrate to developed countries \u2014 and send home more remittances \u2014 will remain intact.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Remittances are officially set to outpace FDI, aid, and private capital flows as the biggest source of foreign capital in developing countries this year, the Financial Times says. As FDI levels from advanced economies is dipping, economists expect the reliance on remittances to remain strong, and continue serving as a \u201clifeline\u201d for developing economies. \u201cRemittances [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":594606,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9003],"tags":[3346,104,115,72,103,2396,2397],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-594605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-worth-reading","tag-developing-economies","tag-economy","tag-emerging-markets","tag-enterpriseam","tag-fdi","tag-remittances","tag-worth-reading","wpautop","entry"],"acf":{"mongo_id":"cfc45123-e039-4189-9d54-3f3c3682f7d2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/9\/1814.png","photo_position":"above","related_issue":[594586],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Remittances are outpacing FDI and foreign aid as developing countries\u2019 biggest source of foreign capital - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Remittances are outpacing FDI and foreign aid as developing countries\u2019 biggest source of foreign capital\" \/>\n<meta property=\"og:description\" content=\"Remittances are officially set to outpace FDI, aid, and private capital flows as the biggest source of foreign capital in developing countries this year, the Financial Times says. As FDI levels from advanced economies is dipping, economists expect the reliance on remittances to remain strong, and continue serving as a \u201clifeline\u201d for developing economies. \u201cRemittances [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-02T03:51:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/1814.png?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Remittances are outpacing FDI and foreign aid as developing countries\u2019 biggest source of foreign capital\",\"datePublished\":\"2019-09-02T03:51:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/\"},\"wordCount\":313,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/1814.png?fit=%2C&ssl=1\",\"keywords\":[\"developing economies\",\"economy\",\"emerging markets\",\"EnterpriseAM\",\"FDI\",\"remittances\",\"worth reading\"],\"articleSection\":[\"Worth reading\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/\",\"name\":\"Remittances are outpacing FDI and foreign aid as developing countries\u2019 biggest source of foreign capital - 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As FDI levels from advanced economies is dipping, economists expect the reliance on remittances to remain strong, and continue serving as a \u201clifeline\u201d for developing economies. \u201cRemittances [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2019-09-02T03:51:57+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/1814.png?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Remittances are outpacing FDI and foreign aid as developing countries\u2019 biggest source of foreign capital","datePublished":"2019-09-02T03:51:57+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/"},"wordCount":313,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/1814.png?fit=%2C&ssl=1","keywords":["developing economies","economy","emerging markets","EnterpriseAM","FDI","remittances","worth reading"],"articleSection":["Worth reading"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/","url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/remittances-are-outpacing-fdi-and-foreign-aid-as-developing-countries-biggest-source-of-foreign-capital\/","name":"Remittances are outpacing FDI and foreign aid as developing countries\u2019 biggest source of foreign capital - 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Transfers from Egyptians abroad are projected to increase almost 13% to USD 33 bn this year, making Egypt one of the world\u2019s\u2026","rel":"","context":"In &quot;THE MACRO PICTURE&quot;","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/241.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596174,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/20\/ems-look-to-lure-remittances-into-diaspora-bonds-to-finance-economic-growth\/","url_meta":{"origin":594605,"position":1},"title":"EMs look to lure remittances into \u201cdiaspora bonds\u201d to finance economic growth","author":"enterpriseam admin","date":"20 August 2019","format":false,"excerpt":"EMs look to lure remittances into \u201cdiaspora bonds\u201d to finance economic growth: As emerging markets struggle with historically low FDI, a growing number of countries are looking to convince their expatriate workers to channel their savings and remittances into \u201cdiaspora bonds\u201d for productive investment, Steve Johnson writes for the Financial\u2026","rel":"","context":"In &quot;THE MACRO PICTURE&quot;","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/8\/649.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":659639,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/30\/remittances-rise-65-4-y-o-y-to-usd-2-6-bn-in-november\/","url_meta":{"origin":594605,"position":2},"title":"Remittances rise 65.4% y-o-y to USD 2.6 bn in November","author":"enterpriseam admin","date":"30 January 2025","format":false,"excerpt":"Remittances are also up up 47.1% y-o-y in the first 11 months of 2024 to USD 26.3 bn","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2261.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579369,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/current-account-deficit-narrows-20-in-1q-2022-23\/","url_meta":{"origin":594605,"position":3},"title":"Current account deficit narrows 20% in 1Q 2022-23","author":"enterpriseam admin","date":"5 February 2023","format":false,"excerpt":"Higher FDI, exports and tourism revenues are easing balance of payments pressures.","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/68.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546341,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/remittances-from-egyptians-abroad-to-grow-8-in-2022-says-world-bank\/","url_meta":{"origin":594605,"position":4},"title":"Remittances from Egyptians abroad to grow 8% in 2022, says World Bank","author":"enterpriseam admin","date":"12 May 2022","format":false,"excerpt":"It\u2019s not all dim on the macro front: Remittances from Egyptian expats are expected to grow at a faster pace in 2022, rising by 8% compared to 6.4% last year, according to the World Bank\u2019s latest forecast (pdf). The lender says that flows will pick up due to an \u201caltruistic\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/156.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573425,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/05\/egypts-tourism-losses-could-top-2-of-gdp-this-year-imf-says\/","url_meta":{"origin":594605,"position":5},"title":"Egypt\u2019s tourism losses could top 2% of GDP this year, IMF says","author":"enterpriseam admin","date":"5 August 2020","format":false,"excerpt":"Egypt could lose out on tourism revenues worth more than 2% of its GDP this year due to global travel restrictions, the International Monetary Fund (IMF) said in its 2020 External Sector Report. 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