India, Pakistan and Bangladesh are likely to receive higher remittances from the UAE during the festive season which started with Eid-ul Fitr, then Onam and now will continue with Eid-ul-Adha, Diwali and Christmas.
A remittance company, Xpress Money, has said that it expects a 20 per cent rise in remittances from the UAE during the festival season.
It said that the rise is in line with the projected growth in remittances by the company for the second half-of-the-year.
"Customers, particularly South Asians, tend to remit higher amounts of money to their families back home during the festive season," said Sudhesh Giriyan, Vice President and Business Head, Xpress Money.
"This year we expect the increase to be in the range of 18 - 20 per cent to major receive markets, where festivals are celebrated with enthusiasm," Giriyan said.
He said that markets like India, Pakistan, Bangladesh and Philippines are likely to receive higher remittances during the festive season.
Xpress Money is present in more than 150 countries in 5 continents across 170,000 agent locations.
