Specifics of the labour market in Saudi Arabia in the context of economic diversification

Saudi Arabia is known to the majority society as the motherland of Islam and as the country where the important holy centers of the Muslim world are located. Sharia law is the main source of law here, and from our point of view, there are constant violations of human rights in the country. This is a country where a fifth of the known oil reserves are hidden, and this has a significant impact on the state's economy. With the unusual functioning of the economy, an unusual structure of the labor market was also born in the country. Mineral wealth makes it possible to finance often megalomaniacal projects and the very rapid transformation of cities, which results in an increase in the quality of life. At the same time, the topic of diversification is becoming more relevant for the representatives of the given countries. This theme is a consequence of the direction of the world, suggesting that the influence of oil will decline. The topic of diversification brings with it changes in the labor market. The main goal of my bachelor's thesis is to evaluate the functioning of the labor market in Saudi Arabia and point out its pitfalls. In this context, Saudi Arabia has adopted a diversification plan called Vision 2030. The first chapter aims to introduce the reader to the importance of oil, which is linked to the development of the Saudi economy and affects the labor market in the country. In the second chapter, the aim is to evaluate the labor market of the given economy in relation to social changes and in relation to the current crown prince's plan. The bachelor thesis will use the sources of verified institutions such as OECD, WTO, KPMG, as well as institutions that operate only in the region of the Arabian Peninsula or the Middle East. Among such institutions we can include, for example, the Islamic Development Bank, the Arab Fund for Economic and Social Development or the Arab Monetary Fund. Credible sources such as WB are used for data sources for graphs and tables. Furthermore, the General Authority for Statistics database was used as a source of statistical data, and for data related to energy, the International Energy Agency and the OPEC database. I consider annual reports on the state of the labor market, education or the economy as a whole to be a valuable source of data for Saudi Arabia. These reports are issued by the local Ministry of Finance or the mentioned statistical office of SA. Non-governmental companies dealing with the labor market have also been found to be valuable resources, an example of such an organization is the International Labor Organization (hereafter referred to as the ILO). The general research method in my bachelor's thesis will be analysis based on the information found and relevant graphs and tables.