Press release
Egypt Remittance Market: Steady Growth Amid Challenges with 10-15% Annual Increase in Inflows (2019-2025)
As of 2023, Egypt holds a pivotal position in the global remittance landscape, leading the Middle East and North Africa (MENA) region in remittance inflows. However, recent data reveals a concerning trend, with remittance flows to Egypt plummeting by 38% in the first half of 2023. This decline is primarily attributed to a significant gap between official and parallel foreign exchange rates, prompting many expatriates to turn to unofficial channels for sending money home.Recent data from the World Bank indicates that remittances to Egypt have historically experienced an annual growth rate of approximately 10-15%, fueled by a robust population of Egyptians living abroad who maintain strong economic connections with their homeland. Despite recent setbacks, the Egyptian government is proactively implementing measures to reverse this trend and stimulate remittance inflows.
Request Free Sample Report:
https://www.makreo.com/report/egypt-remittance-market-size-and-forecast-2019-2025
► Government Initiatives to Boost the Egypt Remittance Market and Stimulate Inflows
To counteract the current decline, the Egyptian government has introduced several strategic initiatives:
• Promoting Digital Channels: The government is actively promoting digital channels for money transfers to enhance accessibility and efficiency.
• Attractive Banking Products: New bank savings products that waive commissions for expatriates have been launched, encouraging remittance inflows through formal channels.
• Exchange Rate Liberalization: Plans to liberalize the exchange rate in March 2024 are expected to stabilize monetary conditions and incentivize remittances.
These initiatives have already attracted USD 2 billion in foreign portfolio inflows and are poised to provide a much-needed boost to the remittance market.
► The Rise of FinTech and Digital Payment Solutions in the Egypt Remittance Market
The FinTech landscape in Egypt is rapidly evolving, with over 177 startups and payment service providers (PSPs) active in the market as of 2022. This growth has been significant, with the number of FinTech companies increasing 5.5-fold in the past five years. The majority of these firms focus on payments and remittances, lending, and alternative finance, reflecting the growing demand for innovative financial solutions among the Egyptian diaspora.
As of early 2024, Egypt's digital payment landscape boasts substantial internet penetration, with over 72% of the population online. With 82.01 million internet users and 110.5 million active mobile connections, the potential for digital remittances is vast. Social media engagement further underscores this trend, with 45.40 million users enhancing communication among the Egyptian diaspora.
► Projected Growth of the Egypt Remittance Market Amid Regional Challenges
According to the World Bank, the outlook for remittances to the Middle East and North Africa (MENA) region will be influenced by various regional factors, particularly impacting oil-importing countries such as Egypt, Jordan, Lebanon, Morocco, and Tunisia. These nations face challenges from rising fiscal and current account deficits due to ongoing regional conflicts and economic instability, which may affect their political stability.
► Comprehensive Market Analysis by Makreo Research
In light of these developments, Makreo Research has published an in-depth report titled "Egypt Remittance Market Size and Forecast (2019-2025) - Growth Analysis by Inward and Outward Remittances, Mode of Transfer, End Users, and Digital Payment Market." This report provides a thorough analysis of the historical performance and current state of the Egyptian remittance market, identifying critical growth drivers and potential challenges.
The report delves into:
• Historical Performance: A comprehensive examination of remittance inflows and outflows.
• Market Segmentation: Detailed insights into remittance corridors, costs, and the impact of economic, political, and technological factors.
• Competitive Landscape: An analysis of key market players, including financial performance, investments, and mergers and acquisitions.
• Future Outlook: Assessments of market opportunities, driving factors, and the overall trajectory of the remittance market.
The findings of this report are crucial for stakeholders in Egyptian banking, financial institutions, cross-border platforms, the digital payment sector, and central banks. Understanding the dynamics of the remittance market is essential for devising effective strategies to harness its potential.
For more information and to explore the comprehensive market research report, please visit
Egypt Remittance Market Size and Forecast (2019-2025) - https://www.makreo.com/report/egypt-remittance-market-size-and-forecast-2019-2025
Similar Related Reports:
Philippines Remittance Market Size and Forecast (2018-2028)
https://www.makreo.com/report/philippines-remittance-market-size-and-forecast-2018-2028
Makreo Research and Consulting
801, Trishul Goldmine, Palm Beach, Sector 15, Belapur, Navi Mumbai, Maharashtra 400614
Contact us at:
Meetu Bhasin, Director of Research and Operations
Phone Number
+91-9619699069
Email Address
info@makreo.com
Makreo Research is a leading market research and consulting firm based in India, specializing in Syndicated Research, Custom Research, Consulting, and Market Surveys. With expertise in navigating complex market dynamics, we empower businesses to achieve success. Our services span a wide range of industries and geographies, including North America, LATAM, Europe, Asia-Pacific, Oceania, MENA, and more.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Egypt Remittance Market: Steady Growth Amid Challenges with 10-15% Annual Increase in Inflows (2019-2025) here
News-ID: 3696255 • Views: …
More Releases from Makreo Research And Consulting

Global Food Packaging Market Poised to Surpass USD 460 Billion by 2030 Amid Surg …
The global food trade landscape has undergone seismic shifts, with trade values soaring by 350% between 2000 and 2021 to USD 1.7 trillion, driven by evolving production, consumption patterns, and geopolitical policies. In 2022, the global food import bill surged to a historic USD 1.94 trillion, fueled by rising prices and supply chain complexities. Amid this growth, the Global Food Packaging Market has emerged as a linchpin for ensuring food…

Vietnam Auto Finance Market to Reach USD 12.82 Billion by 2030, Driven by Econom …
The Vietnam auto finance market, a vital component of the nation's financial ecosystem, has faced notable volatility in recent years. In 2023, the market experienced a sharp decline as the automotive sector struggled. Vehicle sales dropped by -25.37%, while motorcycle and scooter sales fell by -16.21%. High bank interest rates and economic difficulties in the real estate and securities markets played a significant role in this downturn.
Despite these challenges, the…
India's Warehousing Market Poised for Remarkable Growth with 30 Million Sq. Ft. …
The demand for warehousing space in Asia has been on a steady upward trajectory, fueled by key factors such as the e-commerce surge, supply chain diversification, rapid urbanization, population growth, infrastructure enhancements, and cutting-edge technological innovations. Leading markets, including China, India, Japan, and Southeast Asia (spanning Singapore, Vietnam, and Malaysia), are experiencing unprecedented growth in warehousing demand, supported by these transformative trends.
► Asia-Pacific Logistics Rentals on the Rise:
Makreo Research reports…

What's Driving the Global Sustainable Packaging Market Projected to 7.73% CAGR b …
According to Makreo Research, the Global Sustainable Packaging Market is witnessing robust growth, fueled by the escalating demand for eco-friendly packaging solutions. In 2023, the market recorded a remarkable year-on-year growth rate of 7.91%. Over the period from 2019 to 2023, the market maintained a compound annual growth rate (CAGR) of 6.52%. This surge reflects a global shift toward sustainability as businesses and consumers respond to mounting environmental concerns.
The COVID-19…
More Releases for Egypt
Egypt Market Research Reports and Egypt Industry Research Reports
Egypt is an essential strategic partner of the United States and confirms to employ with the Egypt to develop mutually shared interests, comprising robust commercial ties. Egypt's strategic location proposes companies a platform for their commercial activities into the Middle East and Africa.
U.S. exports to Egypt comprise agricultural goods, transportation equipment, chemicals, machinery, and computer & electronic products. U.S. imports from Egypt entail apparel, petroleum, processed foods, textiles, and…
Egypt E-Learning Market, Egypt E-Learning Industry, Market Revenue: Ken Research
The report titled publication “Egypt E-Learning Market Outlook to 2026- Driven by easy and on-demand access to content, self-paced learning opportunities and interactive & modular means of learning” provides a comprehensive analysis of the Education Industry and K12 E-Learning Industry in Egypt. The report provides the industry size basis revenue and number of subscribers in the e-learning Industry in Egypt, supply ecosystem analysis, market segmentations, business model analysis, revenue stream…
Egypt Dairy Packaging Market 2022 Global Insights and Business Scenario – Elif …
Market Insights Reports has added new statistical data to its repository titled as, Egypt Dairy Packaging Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The Egypt Dairy Packaging…
Egypt Dairy Packaging Market 2021-2026 skyrocketed revenue with key players Elif …
Latest research on Egypt Dairy Packaging Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Egypt Dairy Packaging market. This report included a special section on the Impact of COVID19. Also, Egypt…
Egypt: Country Intelligence Report | Vodafone Egypt, Orange Egypt, Telecom Egypt
HTF Market Intelligence released a new research report of 42 pages on title 'Egypt: Country Intelligence Report' with detailed analysis, forecast and strategies. The market Study is segmented by key a region that is accelerating the marketization. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources. The study covers key regions that includes Egypt and important…
Telecom Operators Market in Egypt Country Intelligence Report 2021-2026 | Vodafo …
Latest published market study on Egypt Telecom Operators Country Intelligence Market provides an overview of the current market dynamics in the Egypt Telecom Operators Country Intelligence space, as well as what our survey respondents—all outsourcing decision-makers—predict the market will look like in 2027. The study breaks market by revenue and volume (wherever applicable) and price history to estimates size and trend analysis and identifying gaps and opportunities. Some of the…