In general we can wish Mourinho good luck and we are waiting for him in some Saudi club.
Mourinho is a manager who does his job with so much emotions, as a result of that i don't think he would move to Saudi Arabia because he would not get such feelings there, it would obviously be motivated by the money he is going to be paid. Having said that, if you look around Europe, you'll understand that Mou's options are limited, i don't think any big club can sign him now and smaller clubs cannot afford his wages. Mou also has serious disciplinary issues that many clubs would closely be looking at before they appoint him.
Yes, I think Mourinho can rest for a while for the rest of the season while seeing how the clubs in Europe are developing. I also don't think he will coach a team from the Saudi league. he will remain in Europe and possibly start with a new team for next season.
he might be able to stay with one of the clubs in Serie A or maybe with a club in the Premier League. There are still big clubs that are currently having problems with team performance. and maybe Mou could be a solution for teams who want to change their coach.
I think @Coyster is right and there are not many clubs in Europe who are willing to hire Mourinho. He has coached almost all the top clubs in Europe and now they, except Manchester United, seem to have no problems with coaching, and small and medium clubs I guess Mourinho is not interested.
It is possible that with new owners Newcastle can pull Mourinho's demands, but the question is whether the Sheikhs are ready to sack Eddie Howe and whether Mourinho is ready to take charge of Newcastle if necessary.
Mourinho for a couple of years in Saudi Arabia can provide himself and his family with money for the rest of his life, and then if anything in two or three years to return to Europe.