In the News

Oil slump hits Indian remittance incomes

Graham Watson

30th September 2016

I've just started looking at the interconnected nature of markets - and this is a lovely example.

You will find more statistics at Statista

The collapse in global oil prices has seen a number of Saudi companies close and their Indian workers have gone home to Rajasthan. This has implications for levels of demand in parts of Rajasthan that were previously partly dependent upon the remitted incomes from expatriate workers in Saudi Arabia.

Saudi Arabia's large migrant workforce saw it send $45 billion in remittances in 2014.

Economics is a tangled web...

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to Tutor2U, reads voraciously and is interested in all aspects of Teaching and Learning.

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