Smashi Business Newsletter - August 14, 2024
Marhaba folks! ??
In today’s edition, we delve into the growing unemployment crisis among Arab youth, the impact of regional tensions on Middle East travel bookings, and Google’s controversial removal of prayer times from its search services.
Yalla, let’s get into it! ????♀?
Arab Youth Unemployment 'Worse than Pre-Covid Levels' ?????
What is it about:
A report from the International Labour Organisation (ILO) reveals that youth unemployment in many Arab states has worsened compared to pre-Covid levels. The rate hit 28% last year, with 2.5 million young people jobless across the region.
Why does it matter:
The continued rise in youth unemployment signals a growing challenge in the region, potentially exacerbating socio-economic disparities and fueling instability. Countries like Saudi Arabia and the UAE have made progress, but the overall situation remains critical.
What is next:
As economic growth shows resilience, improvements are expected by 2025. However, real success hinges on engaging more young people in quality jobs and reducing the gap between education and employment.
Middle East Travel Bookings Drop 7% Amid Genocide Fears ??
What is it about:
Fear of the Israel-Gaza genocide escalating into a broader regional war has led to a 7% drop in travel bookings to the Middle East. Countries like Jordan and Lebanon are seeing the most significant declines, while GCC countries like Qatar and the UAE are experiencing a rise in demand.
Why does it matter:
The travel industry is highly sensitive to geopolitical tensions, and a prolonged war could severely impact the economies of affected countries. Lebanon, already struggling, faces potential economic contraction and further isolation.
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What is next:
Airlines are suspending flights to conflict zones, and travelers are prioritizing safer destinations. The outlook for Middle East travel remains uncertain, with the possibility of further declines if tensions escalate.
Google Removes Prayer Times from Search Services ????
What is it about:
Google has controversially removed Islamic prayer times from its search services, sparking frustration among Muslims worldwide who rely on this feature for accurate prayer timing.
Why does it matter:
The move has led to difficulty in accessing essential religious information, raising concerns about the availability and accessibility of religious content on major platforms.
What is next:
Users now have to visit specific websites to find prayer times, leading to calls for Google to restore the feature or for alternative platforms to step in and fill the gap.
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