Opinion

Expats should spend their money in the Kingdom

December 27, 2018
Expats should spend their money in the Kingdom

Rashid Muhammad Al-Fawzan

Al-Riyad

At the end of the third quarter of this year 8,847,478 workers, Saudis and non-Saudis, were registered with social insurance. Of the total number, non-Saudis represented 7,128,654 individuals (80.5 percent) and Saudis 1,718,824 (19.5 percent). Apart from this there were nearly two million male and female domestic workers.

Also we have to add the number of people who were arrested in recent police campaigns against illegal residents. It is estimated that around two million violators were detained.

We consider expats working in this country to be our partners in development and we need them to help build our country.

Our main focus is on illegal residents and those who are violating and damaging the economy by conducting secret economic activities. The fees that were imposed on the dependents of expatriates have reduced the number of expat family members residing in the Kingdom. Many expat workers have sent their families home and have remained here to work on single status.

The exodus of expat families has had an effect on rental properties in the Kingdom with the cost of renting apartments dropping dramatically. There has also been a negative impact on the business conducted by companies dealing in food products.

The reduction in the number of expat family members residing in the Kingdom has meant that expat workers now save some of their income instead of spending it here on school fees, housing, cars and other needs.

We need to encourage expats living in this country to spend their money in our economy, instead of sending their families home and transferring their money abroad. We need to encourage them to spend money in the Kingdom instead transferring most of their salary abroad. This situation requires study and analysis, especially as it affects middle and higher income expat workers.


December 27, 2018
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