Kuwaiti expenditure on travel in the second quarter of this year stood at around 1.016 billion dinars. This reflected a 25.3 percent decline compared to the first quarter of 2023, which totaled about 1.36 billion dinars.
However, it marked a 21.6 percent increase compared to the spending level in the second quarter of the previous year, reaching 835.8 million dinars, reports Al-Rai daily.
Consequently, the overall spending on travel in the first half of this year summed up to approximately 2.377 billion dinars, showcasing a 20.5 percent surge when compared to the first half of the preceding year, amounting to 1.972 billion dinars.
In accordance with the State of Kuwait’s balance of payments data provided by the Central Bank of Kuwait, total remittances from expatriate workers reached about 1.168 billion dinars during the second quarter of 2023. This represented a 5.6 percent decrease from the first quarter of the current year, which totaled approximately 1.237 billion dinars. Furthermore, there was a decline of about 21.9 percent compared to the remittance level in the second quarter of 2022, amounting to about 1.495 billion dinars.
Regarding overall remittances from expatriates throughout the first six months of this year, they amounted to about 2.4 billion dinars. This indicated a reduction of about 19.01 percent from the corresponding period in 2022, where remittances totaled approximately 2.97 billion dinars.