Health of the Dubai Job Market in 2016
With a stable economy, competitive salaries and many opportunities available, prospective expats looking to Dubai have plenty of reasons to rejoice.
The Middle East Job Index survey, released last August by Bayt.com, reveals that 72% of Dubai’s employers are planning to hire within the next twelve months. Further, the survey indicates that three-quarters of employers in Dubai will be hiring within the next several months; they are also looking to fill up to ten positions within their organizations.
Expo 2020: A significant factor
One of the driving factors of employment growth in Dubai can be attributed to Expo 2020. Anticipation of the Expo win has also led to a surge in business confidence across the emirate, according to the Dubai Chamber of Commerce study. This confidence has also been reflected in the increasing number of job postings.
Dubai’s successful bid to host the mega event is projected to impact the local job market heavily. Reports estimate that over 277,000 new jobs will be created by 2020 in anticipation of the Expo. Hiring for Expo-related business activities is expected to begin as early as 2016.
What opportunities are available?
Data from the Bayt.com survey suggests that junior executives will be highly sought after. According to the data, Dubai employers will also be posting plenty of opportunities within the following positions:
- Human resource professionals
- Executive assistants
- Sales managers
The industries that will be looking to hire the most talent in Dubai are:
- Banking and finance
- Oil, gas and petrochemicals
The job market indicates that transferable skills, particularly in the form of soft skills, are gaining an increasing importance for Dubai-based businesses. Half of those Dubai employers surveyed by the Middle East Job Index are looking for team players with good communication skills in both English and Arabic.
When it comes to experience, these employers are typically seeking candidates with mid-level experience, with almost one-third of them indicating that they are looking for candidates with a managerial skill-set.
Salaries to rise
Salaries are also expected to be on the rise in 2016. As for the factors causing salaries to increase, these include inflation and the rising cost of living, as well as traditional economic growth.
Dubai tops the charts
Dubai consistently score in the top three cities region-wide across all considerations; this is exemplified by Bayt.com’s Top Cities in the Middle East and North Africa survey, which was released in October 2015. For career growth, Dubai emerges as the top city, with 54% of respondents rating it positively. According to the survey, the emirate also emerges as the top city in terms of job availability with roughly half of respondents (48%) stating their satisfaction with the number of jobs available. Dubai is also the top destination in regards to benefits for working parents. Dubai is also rated the highest in terms of competitive salaries.
When it comes to the job market in 2016, we can safely say that Dubai remains a very competitive marketplace with a positive outlook for both employers and job seekers. With all that Dubai has to offer, it’s no surprise that it has become a hotbed for expatriates. Will you join their ranks?