Economic Woes and the EFL Community: The concern – Part 1
The past few weeks (even days) the financial market has been like a yo-yo. Stocks almost hitting rock bottom, banks going bankrupt and country currencies fluctuating more than your windshield wiper in a hurricane, it is impossible to know what is going to happen. With news articles preaching doom and gloom, while others say it’s just temporary, who could help not notice articles like:
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“A financial crisis unmatched since the Great Depression, say analysts” - GuardianTeachers around the world too are starting to question whether EFL teaching is the smartest thing to do during such a risky time. Over the course of the next few weeks ESL Daily will be examining the current financial crisis in a 5 part series:
“Financial crisis 'worst I have ever seen': BMO economist” - CBC
“South Korea braces for crisis fallout” The Star
“Financial crisis hits Japan” Radio Australia
1. Intro: Economic Woes and the EFL Community: The concern (Current)
2. Economic Woes and the EFL Community: Hardest Hit EFL Destination Countries
3. Economic Woes and the EFL Community: Hardest Hit English Speaking Home countries
4. Economic Woes and the EFL Community: Prepare and Protect
5. Economic Woes and the EFL Community: Concluding Remarks
To outline some of the concerns, follow what others have blogged about and written in forums.
“The won is plummeting right now, what the hell. Are there any smart econ people on here with any optimistic insight? I am obsessed with xe.com lately, constantly refreshing the page to see my salary decrease…” ESL Café Forums
Troubled economic times we’re in, if you’ve been following the news. In Mexico, we’ve seen the peso lose a lot of value against the dollar.
What does this mean for EFL in Mexico, and teaching abroad in general?
I wouldn’t fret. One of the immediate effects of an economic slowdown in Mexico and other developing countries will be job losses, particularly in the export sector. Companies will likely cut funding to employee training programs, including English instruction. This doesn’t mean the need for English will disappear however… - Teachers International
What does this mean for EFL in Mexico, and teaching abroad in general?
I wouldn’t fret. One of the immediate effects of an economic slowdown in Mexico and other developing countries will be job losses, particularly in the export sector. Companies will likely cut funding to employee training programs, including English instruction. This doesn’t mean the need for English will disappear however… - Teachers International
There is no doubt that the recession has been felt around the world. There is no doubt that some countries have been harder hit than others. Stay tuned to ESL Daily and find out what country has been hit the most.
EFL teachers worldwide: Unless you’ve been living in a cave, certainly the growing world economic crisis will impact you sooner or later. In my blog post, “How the Global Recession is Affecting English as a Foreign Language Teachers”, online at: http://bettereflteacher.blogspot.com/">http://bettereflteacher.blogspot.com/ I take a brief look at some possibilities for EFL teachers worldwide too. This is especially true for those who may be living and teaching English abroad as they continue to watch the value of their local-currency salaries incessantly plummet earthward like a falling Icarus with his melting wings. Others, like a mourning Daedalus, stand helplessly by, watching as potentially catastrophic events unfold all around us. None of us will escape the effects of this crisis, but we can prepare ourselves and out EFL learners.
Prof. Larry M. Lynch
Santiago de Cali University
Cali, Colombia
http://bettereflteacher.blogspot.com/">http://bettereflteacher.blogspot.com/
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Thanks Prof. Lynch.
READERS: I highly recommend our readers to follow Better EFL Teacher Blog as much as possible. The tips will strengthen your teaching skills in the classroom, and the expert advise that Professor Lynch gives WILL improve your everyday life in your EFL host country.
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