How Has The Problem Of Unemployment Increased In Saudi Arabia? What Should The Government Do To Face The Problem?

How has the problem of unemployment increased in Saudi-Arabian Arabia? What should the governing body do to face the problem?

Saudi Arabia could be regarded as a wealthy developing country that has potential stinting increment in the future, if all its strategic plans are achieved. The strength of the Saudi economy is mainly dependent on its oil industry. Until the 1960’s most of the population was Bedouin or semi- Bedouin, however, since then, and alongside the rapid economic growth, at that place has been rapid urban growth and settlement. The main cipher that facilitated this economic growth was the oil wealth era. The most lucky time for the Saudi economy was after 1974 where there was a dramatic increase in petroleum revenues after the Arab- Israeli war, seeing that it constituted of 90% of the country’s exports. During that time, the demesne became one of the fastest growing economies in the world. Government revenues were sufficient for all requirements, ranging from importing goods, to development, infrastructure, defense and even financial help to other Arab countries. However, the Saudi economy has generally been on the lower post the Gulf- War (1990) due to several reasons.



Saudi Arabia has stepped shovel in from fluctuating oil supply and prices according to its needs, to actually works towards certain production quotas placed by OPEC. The purpose stub this was to create stability within the global market for oil. Since then, the government had started to look at developing alternative industries, such as the petrochemical and natural gas industries.

With these visible dynamic changes to the economy since the 1970’s, the government has been trying to take an active role, through placing 5-year development plans, with the channelize of improving other industries like agriculture, in order to step-down the Kingdom’s reliance on oil revenues. However, there remains to be a dilemma which is that of a shortfall of skilled Saudi workers at all...If you want to get a full essay, order it on our website: Orderessay



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