Saudis Skip Arab Spring as Nation Pours Money Into Jobs
When the three Saudi men met each other in school 11 years ago, they dreamed that by the time they had reached their mid-20s, each would have a well-paid job, a house, a new car and maybe a wife.
Today, all three still live at home, get pocket money from their parents and are jobless in Riyadh, capital of the world’s largest crude oil exporter.
Now in their mid-20s, the three men say they feel resentment when they see the shops along major highways packed with the latest electronics, furniture and designer clothes, the showrooms displaying shiny sedans and the restaurants offering delicacies prepared by French and Italian chefs.
Most of the facilities are run by expatriates who return home often able to afford a house, car and a wife -- apparently benefiting more from the kingdom’s wealth than some of the locals do, Bloomberg Markets magazine reports in its May issue. …
...The under-30 generation faces a big gap between expectations and job prospects, says Ibrahim Warde, adjunct professor of international business at the Fletcher School of Law and Diplomacy at Tufts University.
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