Saudi British Joint Business Council Doing Business in the Kingdom of Saudi Arabia Tuesday 30 th June 2015 Frank Edwards Director of Workforce Development The Global Trend The unemployment rate for Saudis between ages 16 and 29 is 29% Saudi Arabia's youth unemployment could become its biggest social challenge over the next decade amid sinking oil prices and the entry of millions of young people into its limited economy. 2/3 of the nation's 29 million population is under age 30 37% of all Saudis are 14 years old or younger In Saudi Arabia, that means 1.9 million Saudis will enter the workforce over the next decade. Saudi Arabias Labour force more than doubles in next 20 years 1 Includes currently employed and unemployed 2 Range of 2-3 million female labour market entrants indicate different assumptions on future female labor force participation 3Overall analyses is based on conservative estimates: the KSA governments development plan projects 11.8 million Saudi employees by 2024 SOURCE: McKinsey estimates 2030 total est. national labor force 3 Increased female participation 2 Demographic growth of labor force 2008 Saudi labor force = Saudi Arabia has approximately 9 million expatriates. The Kingdom's Ministries have attempted to address this through a drive for Saudisation. 6 Structural Reform Understanding the Market Understanding the Culture Added value - No Easy Money Understanding the Clients Expectations Visas, Flights, Transportation and Time Difference Contracts, Payment Schedules, Withholding Tax The UK is a Trusted Brand Developing Relationships Built on Trust and having a Presence Education & Training Opportunities - Practical Tips Thank You