Economic consequences of the so-called Arab Spring can be summarised in the drastic deterioration in economic conditions and the subsequent decline in economic performance of all sectors with no exception, as well as an increase in unemployment rates and outflow of local and foreign investments.
On the financial level, the Arab Spring countries, except for Libya — the oil-rich country — are on the verge of bankruptcy. The economic hardships can be obviously noticed in the sharp decline in reserves and deterioration in stock markets, thus prompting their immigrant manpower abroad, especially in the GCC countries, to increase remittances back home, which have been badly affected by the Arab Spring. This happened with an aim to contribute to the basic needs of their families due to inflation and high prices — a fact that helped to prevent the full collapse of financial conditions there.
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