Gulf states changing labor, visa and residency policies to attract foreign wealth, talent
To:
Al-Monitor Pro Members
From:
Dr. Robert Mogielnicki
Senior Resident Scholar, Arab Gulf States Institute in Washington, DC
Date:
Aug. 10, 2022
Bottom Line:
Governments in Gulf Cooperation Council (GCC) member states are vying to attract global wealth and talent as part of post-coronavirus, oil-fueled economic development trajectories. High-net-worth individuals, investors and specialized professionals can expect more schemes and incentives enabling long-term residency and employment in the Gulf region. Private-sector firms will simultaneously be expected to hire and train more local citizens over the coming years, with wealthier GCC governments likely offering financial incentives and policy flexibility to support broad workforce nationalization aims.