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'800,000 expats exit Saudi, creating a hiring crisis'


The Saudi economy is suffering a crisis of confidence with more than 800,000 expatriates leaving the country since late 2016, alarming domestic companies concerned that the foreigners cannot be easily replaced.
The kingdom is now experiencing a plunge in foreign investment and high levels of capital outflow, according to a report in Business Insider.
The departure of expats is part of Saudi government attempt to wean the country off its dependence on oil through economic diversification, a significant element of which involves trying to persuade Saudis to take up undemanding state sector jobs, which make up two-thirds of domestic employment, and those out of work to take up the new vacancies.

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