Foreign workers face financial woes

Rising prices and weaker currencies are creating financial woes for foreign workers in the Gulf region. Some workers are already considering leaving the Gulf, particularly those from countries experiencing economic growth. Some workers, like Indian professionals are already being drawn by better offers in their home country. Despite seeing growth, Gulf States are facing inflation and a drop in remittance values, since their currencies are pegged to the dollar.  Yasser Hatami, a managing director at a recruitment agency said it is becoming even more difficult to recruit migrant workers into the Gulf region, especially with rising costs of living.

Source: AFP, “Gulf inflation burns up foreign workers’ earnings,” The Daily Star, 16 April 2008