Op-Ed: The hidden impact of the global crisis on major cities

Find out the hidden impact of the global crisis on the people of Toronto and other major world cities. How will the world react to the economic situation?

Last week in Colombo, Sri Lanka, on almost every flight from around the world, there was at least one returnee. For these Sri Lankans, their dream of an overseas life was over. In the current climate, it is often the expatriate workers who are the first to suffer. On one such flight, two middle management expatriates from the construction industry in Dubai were returning. Less than 12 months before they had been hired to the bright lights of Dubai to work in the booming construction sector as Quantity Surveyors. In Dubai, their salary was nearly seven times more than what they would make back home and they were regularly sending home thousands of dollars every month. This money was vital for all elements in Sri Lanka -- for the government as an inflow of foreign currency, their families as a means of helping them keep alive and for the economy generally as the money was spent within the country. Now from all around the world there are examples of people having to give up on their dream. From major cities such as Toronto, London, New York, Dubai, citizens of these places are losing their jobs and the impact of this is only just being felt. Here is yet another reason why this recession has a long long way to go.