The Saudi economy is expected to create 5.7 million jobs by 2020.
However, the Saudi work force is likely to get just 45 percent of the available jobs as opposed to 55 percent for expats, revealed a study reported by Arab News.
The “Assessment of the ability of Saudi economy to generate suitable and sustainable jobs for Saudis” study revealed three scenarios for the ability of the Saudi economy to generate jobs in the next four years.
The first scenario said it will create 5.7 million jobs while the second and third scenario said it will create 3.5 million and 1.6 million jobs respectively.
From 1999 to 2014, the Saudi economy created 5.5 million jobs of which 46 percent went to nationals and 54 percent went to expats. Furthermore, in mid-2014, the jobs increased to 11.1 million with 45 percent going to Saudis and 55 percent to foreigners, according to the study.
However, due to higher population growth rates, Saudi work force is expected to increase to make up 34 percent of the Kingdom’s work force by 2020.
The study also included alternate economic policies and job generation initiatives.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.