Saudi Arabia is the largest source of remittance payments in the world. Remittance payments from Saudi Arabia, similar to other GCC countries, rose during the oil boom years of the 1970s and early 1980s, but declined in the mid-1980s. As oil prices fell, budget deficits mounted, and most governments of GCC countries put limits on hiring foreign workers. Weaknesses in the financial sector and in government administration impose substantial transaction costs on migrant workers who send them. Costs, although difficult to estimate, consist of salaries and the increased spending required to expand educational and health services, housing, roads, communications, and other infrastructure to accommodate the basic needs of the newcomers. The foreign labor force is a substantial drain of the GCC states' hard currency earnings, with remittances to migrants' home countries in the early 2000s amounting to $27 billion per year, including $16 billion from Saudi Arabia alone. It has been shown that the percentage of the GDP that foreign labor generates is roughly equal to what the state has to spend on them.