Gulf Cooperation Countries (GCC) will see a large no of expats who are living and earning in Gulf Countries like Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Kuwait & Oman will home soon, according to a recent report.
Due to Coronavirus Outbreak (COVID-19) across the globe and especially in Gulf Countries Oil Prices have dipped to low and Economy is declining. Revenue sources for most of the Gulf countries were dependent on Oil and tourism which has been stopped due to COVID-19
Expats will Exit GCC Countries soon
Many Projects have been halted, Construction sites are halted and lower rates of financial surpluses are trends that may reflect negatively on job opportunities
All these things in Gulf Countries would start a wave of Lay-Offs for workers & employees and increase cost of living for expatriates in all Gulf Countries which will increase the no of Exit & Departures of Expatriates to their home countries.
Also, due to this there would be a salary cuts for expatriates in the near future in terms of cost cutting in private and public sector companies, along with stopping of bonuses and other job benefits.
Even most of the countries are now adapting and encouraging their Nationals for each and every Job in their country. E.g:- Saudization in Saudi Arabia (KSA).
A statement issued online by Oman News Agency (ONA), said, “A new study issued by the Gulf Council for Studies and Research, based in Kuwait, confirmed that the GCC and Arab states may see thousands of expat workers going back home because of deepening global economic recession and a slow recovery and stability of the oil prices below $40 until the end of 2022.”
This COVID-19 pandemic has changed a lot in everyone’s life.
I still Appreciate the countries like Saudi Arabia, Qatar, United Arab Emirates are fighting to limit the spread of Coronavirus.
May Allah give all of us more strength and patience to fight this situation.