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World

Indonesia's expat exodus picks up pace

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Opening sequence

World

Indonesia's expat exodus picks up pace

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COMING UP:Indonesia's expat exodus picks up pace

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Transcript

00:00:02
>> A stream of ex-patriots heading for the exits in Indonesia. The number of foreign work permits down significantly in the first half of the year, as South East Asia's largest economy slashes jobs. The outflow is pushing down rents, emptying out up market neighborhoods and international schools. Evelyn Danobrada in Jakarta says the trend is partly down to China's slowing economy.
00:00:25
>> The mining and on gas sectors are significant contributors in the nation's economy, so slow down in the one from China, has hit Indonesia hard. The low passes of commodities that also we use to incentive, for exploration of production, and as a result. Many companies are cutting back on their workforce particularly the experts as they are seeing it's expensive.
00:00:49
>> But the exodus is about more than saving money. With nationalism or the rise,the government is clumping down on foreign workers getting peculiar about approving work permits. And setting an age ceiling of 55 for sectors like oil and gas. Economists mourn the shrinking expat pool will likely hit the economy because not only are foreign workers big spenders, they're employers too.
00:01:13
>> Just this notice for a simple market in Jakarta which is popular with expats.>> And it's covered with resumes from mates, drivers, gardeners, and even bodyguards. So all of these people are now looking for jobs.>> The business community says the government is sending mixed signals, opening up to foreign investment while closing the door to some foreign workers.
00:01:38
Indonesia is already struggling with a skill shortage and the American chamber of commerce says that the exodus is going to make a bad situation worse.