A Glimpse to the Dubai Economy Today
In the fast years, as record shows Dubai known as one of the fast growing company. Surrounded with the big and beautiful buildings, many foreigners are also working and pursuing their career in this country. Most of those who are working in Dubai are Filipinos and Indians.
In the fast months, internet news was reporting that a Dubai business establishment withdraws thousands of working visas every week. This will show how bad the status of this country is. Some economist says that Dubai economy is depending in real state and many building in this country called to stop the operation. There were no confirmation to their higher officials regarding this but news is continuing to spread out.
Today, news are all over in the Philippines that many Filipino are also laid off and force to go home because of the lost of job. How it will have an effect on Philippines? POEA or Philippine Overseas and Employment Agency records will show that Dubai is one of the top countries who have many deployed Filipinos. Some of them are working in Dubai for years and just taking their vacation once in a year. Philippine overseas workers contributed a lot to the Philippine economy. They are the reason why Philippine economy is surviving and high percentage of the remittance of the overseas workers was from this country. Because of the increasing number of Filipino who is working in Dubai got jobless, it has a vast effect to the remittance which will eventually has a bad outcome to the Philippine economy.
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