Kuwait’s economic boom is collapsing very rapidly and unceremoniously. Other than oil revenue, they don't have anything to hold them up. It is most likely that all the skyscrapers and residential Buildings which are coming up all over Kuwait in recent years may end up as half-built ghost houses as many ongoing construction projects are being put on hold . Many Kuwaiti Companies have started laying off their workers. Kuwait still have slave-labour practices (Kuwait has not made any changes in its antiquated labour laws of 60s with little rights to the employees in private sector.) Kuwait has ludicrously disproportionate ratio of migrant labour force compared to Local population who prefer to work only in Government offices or Banks and are reluctant to accept jobs in private sector due to long working hours and poor pay compared to first two categories. Expats here are living under constant threat of being tossed out of their jobs due to the ecomomic meltdown. Regards Vinay http://smetimes.tradeindia.com/smetimes/news/global-business/2009/Feb/03/kuwait-economy-hit-by-global-meltdown-falling-oil-prices.html
