A report issued by Eurostat, foreign citizens working in Cyprus in 2012 have wired a total of €107 million to their home countries, of which €17 million relate to EU-member states and €90 million to non-EU countries. The respective figure for 2011 was a total of €105 million.

With regard to Greece, a dramatic drop may be owed to the financial crisis and the rampant unemployment devastating the country. Funds transferred in 2011 abroad by foreigners working in Greece amounted to €922 million, whereas in 2012 the total dropped to €651 million, of which €575 million was wired to non-EU countries and €76 million to other countries within the EU.

The report reveals that, for 2012, the country serving as the source of most funds was France with a total of €8.7 billion. Italy followed with €6.8 billion, and next was Spain with €6.6 billion. Germany’s €3.1 billion was the fourth-highest in the EU.

In total, all foreigners working in EU countries have wired back to their home countries approximately €38.8 billion in 2012, compared to €39 billion in 2011.