Meltdown: Dollar dreams also hit

the state.

Immigration companies have seen a slump of more than 70 per cent in their business in the last couple of months.

Kamal Soni, India head of London Immigration, said nearly 35,000 persons used to apply under working holiday visa each year, but due to the decrease in job opportunities there, British authorities have stopped giving this visa in a bid to insulate the local British population from the job crunch. The last application under this category was accepted on November 26, added Soni. 8220;Jobs are hard to come by and even those who are already there are finding it hard to stay put,8221; said Harjap Bhangal, a solicitor based in UK, who deals with immigration cases in London.

Even those interested in going for studying abroad are finding it hard to arrange funds as the interests rates have gone up on loans, said Rajesh Gupta, a consultant dealing in education visas for Australia. 8220;We used to send nearly 35 student to Australia every month, but the number has come down to seven this month,8221; he added.

Applications under the point system have also decreased by more then 60 per cent as people fear getting stuck in foreign countries without work, said Soni.