Job Discussion Forums

[plumpy nut]

I think quite a few countries are going to go under bringing the ESL opportunities with them. Indonesia is collapsing. China will be seriously shrinking soon. It's already bringing down the stock markets.

[bertonneau]

The Middle Eastern countries are all starting to suffer from playing chicken with the US. The US is simply regrouping, taking rigs offline and working on being more efficient and using technology to bring the price down. We're not where Saudi is yet, most of our wells, but we're still pumping and at 75 a barrel we're totally back in business. These countries that haven't prepared well for this day which has been decades in the making. New oil is being found all over the world and as this situation continues more countries are coming online and waiting to get that oil on the market. The oil industry concern should actually be more that the oil market doesn't collapse altogether like the natural gas industry, which is barely profitable in the states at least. But the damage won't be relegated to ESL or Education jobs. Engineering, medical etc. it's all going to go downhill as Saudi in particular just isn't going to have the money to pay expats the money necessary to get anyone or certainly Westerners to come here and tolerate the conditions here. Throw on top of that one war now and unless the US decides to stop things in Iraq, Saudi having to fight two wars and soon one with real fighters, not just a bunch of ragtag Ghat farmers with grandma's Kalashinikov.

[spanglish]

[bertonneau]

I'm going with the information/opinion from a Saudi Aramco accountant that works right in the middle of Dhahran and talks with them every week, but we will see.

[sicklyman]

https://uk.finance.yahoo.com/news/saudi-arabia-may-broke-us-215923665.html

makes for an interesting read

[buravirgil]

[In the heat of the moment]

[veiledsentiments]

[spanglish]

[scot47]

I was in the "Last Chance Saloon" this week and the story is that Saudi Arabia has already gone bust. One of the guys there used to be an accountant so it must be true.

[nomad soul]

And once again...

Remittance must not exceed sender’s income
Arab News | 31 July 2016
Source: http://www.arabnews.com/node/962491/saudi-arabia

JEDDAH: A new mechanism is being planned that would compare remittances with the senders’ incomes.

The first of its kind project is the brainchild of the Finance Ministry, the Saudi Arabian Monetary Agency and other relevant bodies. It aims to control the transfers as authorities detected that thousands of foreign workers transfer amounts that exceed their incomes. These incomes might be the result of concealed, even criminal, actions, said sources.

They said the new regulation, now under consideration, will be launched soon and will contribute to limiting labor market irregularities and violations that increase the illegal income of expatriates.

Any income obtained by foreign workers will be linked with banks, without exception, through a unified network.

(End of article)

[learningpaths]

Is being paid with a cheque a new thing? One you have trouble cashing. Then trouble getting it to home.

Is it me, or does something stink? I want my salary wired into my foreign account and safely out of this country.

[veiledsentiments]

This is one of the issues with not having a legal work visa/iqama... none of those contractor employers will send your money out of the country for you. You are on your own...

VS

[desertdawg]

Maybe others know all the contractors.

I can only speak for myself whilst actually working in KSA. I was on a business visa and the contracting company had no problem sending my salary to my UK account.

[learningpaths]

Me too. It took 3 months to get iqama. Until then, there was no problem, until 2017. At least for me.