The Gambia experienced a remarkable rise in remittances from its overseas workers last year, positioning these transfers as a significant source of foreign exchange alongside tourism.
In 2024, remittances increased by 4% to reach $776 million, representing 31.5% of the country’s gross domestic product, according to Central Bank Governor Buah Saidy. Speaking at a national forum on diaspora financing, he highlighted the growing impact of these funds on the nation’s economy.
This surge in remittances underscores the vital role of the Gambian diaspora in supporting economic stability and growth.
