The world is watching the Gulf again. This time it is not about the problems with Iran but also about the oil and gas that is under the sand and sea. When the worlds energy supply is not stable it affects us in the Philippines.
For Filipino workers who are in the Middle East this is not just news. A lot of them work in the energy sector or in jobs that depend on it. Their salaries, which pay for the needs of their families in Manila, Cebu and Davao depend on how stable things are in the Gulf.
The BBC said that if things get worse oil prices will go up. This might seem like news for the Gulf countries because they will have more money. There is a downside. When the cost of living goes up in places like Saudi Arabia or the United Arab Emirates the workers send money home. Businesses are affected too.. When companies look at their expenses Filipino workers might be the first to lose their jobs.
This is why it matters to us.
The Philippines depends on the money that Filipino workers send home. This is not an exaggeration. The money they send is a part of our country's economy. So if jobs in the Middle East are scarce it will not just affect the families of the workers. The whole economy will feel it. Even if you do not have a relative working abroad you will still feel the effects when you go to the store. Higher oil prices mean costs for everything.
So what can you do about it?
If you are working in the Middle East you should pay attention to what's happening. Listen to the news. Maybe you can learn skills or get training to make yourself more valuable. If you can find another job to earn money. This can help if things get difficult.
For families in the Philippines it is time to prepare for the times. If you have been thinking of cutting back on expenses do it now. Save your money. Be smart about how you use it.
No one knows what will happen next.. In a world where everything is connected. Oil prices in the Gulf food prices in Manila jobs in Dubai. The best thing to do is to stay informed and be ready, for anything.
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