More than 1.2 million foreign workers in Saudi Arabia are expected to leave the labor market this year, a study revealed.
The study was published by Jadwa Investment Company and it reveals that the most affected sectors are hospitality, food services, administrative and support activities, which include rent and lease activities, travel agencies, security and building services.
Meanwhile, according to a Maaal online business daily report, the unemployment rate among Saudis will remain unchanged at 12 percent by the end of 2020.
Jadwa also reported that the overall business environment in Saudi Arabia will improve in the second half of the year, especially in the fourth quarter of the year. This improvement is expected to bring better prospects among the citizens.