Is the Saudi dream fading for expat professionals

Posted on 12 Dec at 6 PM in Relocation UAE
Story link: Is the Saudi dream fading for expat professionals
Is the Saudi dream fading for expat professionals

Is the Saudi dream fading for expat professionals

Is it all over for expat professionals in Saudi Arabia?

In the past, a reassignment to Saudi Arabia was the goal of every expat professional determined to live the high life and gain long-term career progression, but it seems the good times may now be over, at least for white-collar expats. With its economic growth beginning to stall and Saudization cutting off many paths to long-term expat success, many are now returning to home countries they barely know any more. Western expat experts who’ve lived and worked in Saudi long-term are now being forced to face the fact they’re no longer wanted or needed.

The Crown Prince’s Vision 2030 seems now not to include any expat assistance, no matter how valuable Western knowledge and experience have been in the past. Economic diversification in order to broaden business and investment bases is now the siren call, spurred on by the fall in oil prices and the rise of a massive budget deficit. According to high-level expat professionals in the electronics sector, their compatriots are now leaving in droves, forced out by there not being enough business to justify contract renewals.

Margins are being squeezed until they squeak, and economic pain is now the norm along with wage cuts and rising prices. The Saudi government is planning to introduce a levy on expat professionals with dependents, with increases as the year progresses. The aim is to encourage foreigners to send their families back to the home country or simply quit, leaving more jobs for Saudi nationals. Unfortunately, according to foreign professionals, the vast majority of Saudis are neither qualified nor experienced enough to be of much use in many specialised sectors.

Related Stories:

Latest News: