BUS357 Week 3 Discussion 1 Going Down to the Wire in the Money-Transfer Market (Case Study)

Total Population:

One of the most populous Gulf Cooperation Council (GCC) countries is the United Arab Emirates (UAE). In 2021, it was predicted that about 9.2 million people would live there. The other countries that make up the GCC are Saudi Arabia, Bahrain, Kuwait, Oman, and Qatar. Saudi Arabia has the most people of any GCC member, followed closely by the United Arab Emirates.

Non-immigrant Population as a Percentage of Total Population:

The term “non-immigrant population” refers to a country’s native-born residents. Expats and migrant workers worldwide have flocked to the United Arab Emirates (UAE) in search of better economic opportunities and a more welcoming culture. By 2021, only a tiny fraction of the UAE’s population will consist of native-born Emiratis, while the vast majority will be foreign workers (Vrábeľ M. et al., 2019). While the actual numbers may fluctuate slightly from place to place, non-immigrant expats often make up most of a country’s population, with only 10%-20% being native-born citizens.

Importance of Migration and Capital Remittances for GCC Countries:

Migration is a vital aspect of the economies of the GCC countries and the UAE economy in particular. The construction, hotel, healthcare, and financial sectors, among others, are vital to the success of these countries' economies, and they rely heavily on foreign labor. It’s common knowledge that countries like this rely significantly on foreign workers to keep their economies afloat and drive their growth. Financial remittances are essential to the economies of the Gulf Cooperation Council countries, particularly the United Arab Emirates. Many migrant workers send a sizable portion of their earnings back to their home countries, where cash is used to provide for loved ones and possibly invest in businesses or real estate. These funds are a boon to the economies of the countries where the remitters live, especially those of smaller countries that are net labor exporters (Perechuda, I. 2020). The United Arab Emirates, like many other Gulf Cooperation Council states, has a vast population, a small native-born population, and a heavy reliance on foreign workers and remittances. It’s important to note that migrant workers and remittances play a similar role in other GCC countries' economies and overall growth. However, the most recent sources and publications must be consulted to acquire the most current and accurate information.

References

Klobučník, M., Plešivčák, M., & Vrábeľ, M. (2019). Football clubs’ sports performance in the context of their market value and GDP in the European Union regions. Bulletin of Geography. Socio-economic Series, 45(45),59–74.

Kowalski, S., & Łazorko, K. (2020). Research on the off-season social media performance of Polish football teams playing in the ekstraklasa league. Journal of Physical Education and Sport, 20(2), 1217–1224.

Perechuda, I. (2020). Utility of financial information in managing football business model: Case from central-eastern Europe. Journal of Physical Education and Sport, 20(2), 1257–1264.