What does it take to rebuild a country devastated by internal and external conflicts? Can the Middle East thrive on its huge wealth of oil once again? No doubt, it is going to take a Herculean effort to re-establish the past grandeur of the oil-rich Middle East.
The incessant rise in food prices and non-food items is pushing the inflation rate to an all time high. This sudden rise is mainly due to the increasing costs of food, non-food items, manufactured items, and accommodation. The increase in the price of goods and services has adversely hit the middle-class consumers especially the expats as they realized a drastic decrease in the value of the cash they carry in their wallets and pockets.
The average income of expatriate workers has fallen drastically as consumer prices soar towards the sky. There are also a few external factors that have fueled the inflation and they include the decline in the value of the US dollar against the Euro and other Asian currencies. Even imports from Europe and other Asian countries have become extremely expensive due to the fall of the dollar.
Inflation and the higher cost of living in the Gulf are dissuading expatriate workers from working in the Gulf. Today, expats from India are not too keen to work in the Middle East. In fact, they are more comfortable staying at home and working in local Indian companies rather than working for the Middle East firms. Home, home, sweet home, there is no place like home!


0 comments:
Post a Comment