Importance Of Globalization To Saudi Arabia

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posted 52 minutes ago (last edited 45 minutes ago) Rima Ezzeddine
The Importance of Trade and Globalization to Saudi ArabiaThe Importance of Trade and Globalization to Saudi Arabia

The Importance of Trade and Globalization to Saudi Arabia

“…Globalization is a world in which societies, cultures, politics and economics have, in some sense, come closer together."(Routledge, 1998, P.3)

Nowadays with the existing of the fierce competition of trade among countries and the thrive for economic growth all around the globe, arises the globalization issue as a major role that contributes in the prosperity of each country in all sectors.

Saudi Arabia is a country which its economy heavily depends on oil production. It contains
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Saudi Arabia's government for opening foreign investment and softening the conditioning also affected the monetary funding for the country in addition to attract the latest technology and products. Foreign investment is a positive effect of globalization for Saudi Arabia.

With the government increasing the public spending and funding new fundamental projects, trade for Saudi Arabia is not limited only for products but the attract of external labor. Every year Saudi Arabia attracts about one million expatriates to work for the projects, which will help in accelerating the development wheels, regardless the side effect of Saudi employment still there are some types of jobs which are not attracted for Saudis due to its low wages.

Being open to globalization allowed many of the Saudi citizens to go abroad to pursue their studies that leads to different degrees including Bachelor, Masters, Doctorates and medical fellowship with the support of the government by launching the King Abdullah Scholarship
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With the contribution Saudi Arabia Ministry of Higher on globalization I got the opportunity as well as thousands of students in Saudi Arabia to pursue our studies and be connected with the best universities in America to enhance the education quality and therefore by gaining higher degrees will open the doors for new job opportunities and higher wages which will contribute is rising the living standards as
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