Albawaba.com -Amman
The Jordanian Central Bank this month issued a report saying that remittances from expatriates were one of the country’s most important revenue sources.
In the period 1996-2000, says the report, these transfers averaged 22 percent of the kingdom’s gross domestic product (GDP).
Jordanian expatriates sent home 1.308 billion Jordanian dinars in 2000, which was 213 million dinars, or 19.5 percent, more than the amounts transferred in 1996, which amounted to 1.095 billion dinars.
The report says that expatriate remittances in the first quarter of this year reached 280.7 million dinars, showing a marked increase.
Furthermore, these transfers, which are used to establish companies, invest in the Jordanian stock market, or purchase real estate, contribute significantly to alleviating the problem of unemployment.
Jordanians working abroad also contribute to the nation’s income through tourism, says the report.
Despite the fact that most of these expatriates own houses in which they stay during their annual leaves, their expenditure during these periods is added to the country’s gross income from tourism, constituting 20 percent, which is considered one the highest ratios in the world.
For its part, the Amman Chamber of Industry has issued a special report on expatriates’ investments, particularly in the stock market, real estate and service companies.
The report says that the share of non-Jordanian Arabs in the stock market reaches 40 percent, while the share of Jordanian expatriates is only 12 percent.
