KSA ranked second in expat remittances
KSA ranked second in expat remittances
Fadi bin Abdullah Al-Ajajji said the United States ranked first in expatriate money transfers, with an average of $48 billion a year.
Saudi Arabia came second with an average of $19.5 billion (SR73 billion), Switzerland third with an average of $17.2 billion, Germany with $14 billion, Russia with $13.4 billion and Spain with $10.3 billion.
Total cash transfers for expatriates rose by 138.7 percent between 2002 and 2011 to reach $339.6 billion (SR1.3 trillion) in 2011. The United States registered the highest numbers in foreign labor cash transfers in 2011 with $51.6 billion, Switzerland with $30.8 billion, and Saudi Arabia in third with $28.5 billion, said Al-Ajajji.
In the Arabian Gulf, Kuwait was second to the Kingdom with total cash transfers reaching $11.8 billion in 2011. Oman followed with $7.2 billion and Bahrain with $2 billion. There was no available data for expatriate transfers in Qatar and the United Arab Emirates, added Al-Ajajji.
Money transfers for expatriate workers and contractors in the Kingdom registered their highest levels in 2012 to reach $35.9 billion (SR135.1 billion), an increase of 11.5 percent over the previous year.
During the first half of 2013, total expatriate transfers reached $20.9 billion (SR78.5 billion), an increase of $2.4 billion (SR9.3 billion) over the same period last year, which indicates that there would be record transfers for 2013, he said.
Between June 2012 and June 2013, the total value of transfers reached $38.3 billion (SR144.4 billion).
Height of adventure: Treading the ‘Edge of the World’ near Riyadh
- Cliffs in Tuwaiq were formed as a result of the movement of the Arabian plate toward the northeast because of the spread of the Red Sea rift
- Several prominent Saudi tour companies offer daylong excursions to the site
Thrill seekers and fitness gurus all over the Kingdom will be pleased to know that their choices for weekend activities have increased.
Several tour operators in Riyadh have started offering trips to the area known as the Edge of the World, making the location more accessible than ever.
With the country’s obesity rates on the rise and many citizens growing more concerned about their physical health and stress levels, people are seeking ways to maintain their fitness without having to restrict themselves to the monotony of a gym routine.
One such solution that has steadily increased in popularity over the past year is hiking, which many have embraced as being much more exciting and fulfilling than spending hours on the treadmill. And most popular of all for hiking and other fitness activities in a natural setting is the magnificent landmark of Jabal Fihrayn, more commonly known as the Edge of the World.
Described as a “window framed by rock,” the Edge of the World offers stunning views of the valley below, a lush grove of acacia trees teeming with wildlife and vegetation. The spot is well-known for being a favorite of visiting picnickers.
Hikers can choose from several trails of varying levels of difficulty, making their way to the top of the Tuwaiq escarpment to take in the magnificent views at the top of the trail, where the colossal cliff faces drop off to reveal the dizzying height from the valley below. In addition to the rich wildlife unique to the location, you can also find samples of fossilized coral and raw mineral deposits in certain areas of the valley.
The cliffs in the areas were formed as a result of the tectonic movement of the Arabian plate toward the northeast because of the spread of the Red Sea rift situated 1,000 km to the west of Tuwaiq.
Due to the increasing popularity of the site, the authorities have built a hardtop that leads to the gates of the sites and arrangements are in place to protect the area and its natural treasures.
Several prominent Saudi tour companies offer daylong excursions to the site. The more intrepid explorer also has the option to go alone; though past visitors recommend that solo travelers take an all-terrain, 4x4 vehicle and extra precaution. Visitors can spend the day at the site and leave before 6 p.m. (when the gates are closed for the night) or stay behind for a night of camping to enjoy the sunset and the breathtaking celestial views of a star-studded night sky.
Nora Alfard, amateur hiking enthusiast and two-time visitor to the location, was quick to offer praise about her trip.
“The trip out there was a bit tiring, but totally worth it,” she said. “The views are stunning, and the hiking itself is not that difficult. Most people should be able to make it to the top without too much trouble.” She said she was likely to go a third time, and encouraged others to do the same.
The Edge of the World is roughly 100km northwest of Riyadh, about 1.5 hours’ drive from the capital. Visitors should be prepared for at least 30 minutes of hiking, possibly more depending on your trail and your level of fitness and experience. Previous visitors recommend bringing water and snacks, and stress the importance of dressing appropriately — hiking shoes only!