population from 2,100,975 in January 2018 to 2,030,194 in December 2018.74 Expatriate remittances declined in 2019 to reach US$ 9.2 billion compared to US$ 10 billion in 2018, a decline of 8%, and Oman was placed fifth among the GCC countries75. Migrant remittances are known to directly reduce poverty of migrants and their families back home, lead to increased health and educational levels, encourage entrepreneurship, increase access to information and aid in combating climate change76.
Remittances from Oman to India77
Source: World Bank Demographics of Indians in Oman In continuation of the historical links between India and Oman, the Indian community has been an important part of Oman, having contributed to its development at every level and in every field, including infrastructure, trade, education, health, tourism and the private sector. This is translated into remittances, which impact the community back home. The total population of Oman in November 2020 was 4,433,810 with 2,743,674 74 Lawati, H. (2020, September 29). ‘Trends in expatriate remittance in GCC’. Oman Daily Observer. 75 While remittances have increased in real terms despite the fall in migrant populations, the fall in the Indian Rupee rate accounts for such discrepancy, as well as increased remittances in times of uncertainty. 76 Ratha and Plaza (2017), ‘Diaspora and Development: Critical Issues’, pp. 32-35. 77 World Bank. (2019). ‘Migration and Remittances: World Bank Report’. 109