Despite regional war, Gulf remittances remain resilient, at least for now
Professionals interviewed have not yet observed a significant decline in diaspora transfers, but they fear it could materialize if the war persists, while unofficial flows have been affected by reduced air traffic.
In Dubai, Samira’s brother continues to send money regularly to their mother in Lebanon, despite his concerns. Almost every day, she speaks with him, an employee at an Islamic bank, about the family’s situation, checks on his well-being, and tries to find out whether his work has also been affected by the war shaking the region.“He is worried, of course, but so far, he continues to send money,” she said.The same is seen in Doha, where Jihad, an employee at a parapharmacy company, observes the situation without dramatizing it. Several infrastructure projects have been temporarily halted, while the public revenues of certain countries, reliant on oil exports, have suffered from the closure of the Strait of Hormuz. Other sectors — such as tourism, transportation, and real estate — have also felt the impact of the war to varying degrees. ...
In Dubai, Samira’s brother continues to send money regularly to their mother in Lebanon, despite his concerns. Almost every day, she speaks with him, an employee at an Islamic bank, about the family’s situation, checks on his well-being, and tries to find out whether his work has also been affected by the war shaking the region.“He is worried, of course, but so far, he continues to send money,” she said.The same is seen in Doha, where Jihad, an employee at a parapharmacy company, observes the situation without dramatizing it. Several infrastructure projects have been temporarily halted, while the public revenues of certain countries, reliant on oil exports, have suffered from the closure of the Strait of Hormuz. Other sectors — such as tourism, transportation, and real estate — have also felt the impact of the war to varying...
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