Saudi Workforce

Developing the Saudi Workforce

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Abstract

The people of a country are considered to be its biggest wealth. This wealth can be seen in terms of the human resources and the human capital. How important the human resources are depends upon the occupational and intellectual skills of the people. It is therefore essential that a country should have a skilled population in order to have a positive impact on the economic growth of the country as well as on the amount of income the country can earn. This is one factor which helps to distinguish between developed industrialized countries and under developed countries; developed countries ensure that their workforce is provided with the required skills and education while under developed countries are in the process of doing so. Therefore, workforce development should be a major priority of governments as it is the hinge upon which the growth of the whole economy rests upon. In this paper, we will throw light on how Saudi Arabia’s national wealth has been linked to its workforce education and what are the strategic economic advantages that Saudi Arabia has that will give the country an economic edge over others and enable the workforce to work properly in the given set of conditions.

Keywords: workforce development, strategic economic advancement

Developing the Saudi Workforce

Workforce education is directly related to the national wealth of a country as it helps to make a country’s firms more competitive thereby lowering the prices of the goods. This will give a strategic advantage to the country and help in the accumulation of wealth for the country. The three factors that allow a country to gain strategic advantage over others are natural resource, capital and technology, and human capital. Each of these factors is discussed in detail below.

Natural Resources

Among the ten countries with the most abundant and priceless natural resources, Saudi Arabia sits on the third position with the worth of...