DUBAI: Lured by tax-free jobs and cheap living, foreign workers have long gravitated to wealthy Gulf states to earn a better living, but rising costs are now forcing many to go home. Inflation has soared to record or near-record levels across the Gulf region, where migrants ranging from high-paid Western executives to low-wage Asian labourers have formed the backbone of oil-fuelled development since the 1970s.
Already pinched by rising rents and salaries, firms are finding it increasingly hard to recruit staff to countries like the UAE, where wages paid in the dollar-pegged dirham have eroded the value of remittances.
Continue reading →