Saudi Expat Job Market Expanding

A recent report in Saudi Arabia shows that the job market for expats if growing fast

London, UK (Pryce Warner International) January 24th, 2012 – The ministry of labour report on the ratio of citizens and Expats being hired shows that the job market for Expats is growing rapidly.

In the 2009-2020 fiscal year 116 481 Saudi’s were hired compared to 1.7m Expats. 1.1m of these went to work in the private sector while the remaining numbers were public sector or domestic workers.

The majority of the individuals were hired directly into the job, with only a few employment agencies remaining in Saudi Arabia. The vast majority, 259, have now had to close due to a lack of cooperation from private firms.

An economic expert, Khaled Al-Fakieh commented: “The number of Saudis employed is seven percent of the recruited foreign worker.” He went to say that this indicates an endemic problem in the Saudi labour market. Several other commentators have also pointed out that while this trend is great for foreign workers it is leaving a lot of Saudi’s, especially the young, out of work.

Despite the negative impact on locals, companies are still keen to hire foreigners. The banking sector is Saudi Arabia has a particularly high demand for foreign workers, with roughly 35% of all Expats working in the financial sector.

The benefits to foreign workers also remain numerous, a recent survey showed that over a quarter of Expats in Saudi Arabia believe the salary and benefits packages remain the greatest benefit of being an Expat. 68% of Expats in Saudi Arabia also felt that the economy was “very strong” seemingly making it a good place for Expats to consider working considering the financial turmoil being experienced elsewhere.

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By: Aneil Fatania
Financial Editor
Pryce Warner International Group
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