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21/03/1435H
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Forecast of future markets demands and matching it with educational systems in Saudi
It is known that the Saudi economy is based on the oil industry. During the past
few years, the Saudi government has been achieving some success in diversifying its
income resources for the long-term, after-oil-era stable economy; however, so far, the
oil industry still provides the countrys main income. To this end, the economy is
developing on a rapid basis, and hence, new demands can be generated that establish
the need for a sufficient supply. In many cases, these generated demands are
developed in a small number of years which as a result gives little preparation time
for the Saudi educational system to train and to prepare ready citizens to supply these
generated demands. This is a main problem in the Saudi labor market. Hence, it is a
main interest of MoL to forecast future demands in order to warn local universities
and national training centers to prepare new educational programs and a local labor
supply for the markets future needs. Preparing a local labor supply to cover the
markets demands does not necessarily mean that the market will be closed and selfcontained. However, in a sense, from MoLs perspective, it is better off to leak some
local citizens into newly developed economic activities rather than purely filling them
with a foreign workforce.
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