Industry Update Overview Q3 2015

Industry Update Overview Q3 2015

The halfway point of the year is fast approaching. The main talking point continues to be oil prices, which influence the economy and job outlook heavily, but is it only negative? Not necessarily.

Despite these falling prices, companies indicate they intend to hire people in the second half of the year according to the International Labour Organization’s (ILO)’s annual World Employment and Social Outlook 2015. 

According to Bayt’s Job Index survey, Accountants (17%) and Sales Managers (16%) are the top job roles companies will be looking for in the next 3 months. Those with managerial skills are highly sought after by employees as well, followed by sales experience, marketing and computer skills.


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If you are multilingual with proficiency in Arabic and English that will provide yourself a head start from your competition and the opportunity to work in one of the large multinationals that have established themselves in the region. Being a ‘team player’ is high on the agenda for desired traits of successful candidates.

Overall, Banking and Finance are the top industries that professionals consider to the driving industries for the talent that is being brought to the region and country of residence.

Dubai leads the way in terms of job creation, not only within the region but globally as well, ranking first in a research study conducted by the Oxford Economics for the International Festival For Business.

Conducted in May-June 2015, Dubai posted the fastest growth of 15.6% in the past five years, the most out of any country globally. Second on the list was Beijing.

Employment rates rose 10% in 2014 (compared to 2013) with numbers expected to match that trend in 2015. It is certainly a hotbed for work with many opportunities in a variety of different sectors.

Oil&gasOil & Gas

  • Despite hiring intentions decreasing globally in the sector, these intentions are generally much more positive in the Middle East they said.
  • There are still pockets showing positive hiring intentions compared to previous quarters with western expats being high on the demand from large conglomerates such as Saudi Aramco.
  • A total of 270 job vacancies were found when searching for vacant oil and gas position in the gulf.

FinanceFinance

  • Most of the growth is targeted at the mid-manager level where banks are reportedly having difficulty sourcing local talent.
  • There exists apprehension about hiring intentions in this sector, however in regions such as Saudi Arabia where government spending is high, the market is recording a stable rate of growth.
  • There were 357 total banking and finance jobs found advertised at the time of publication. 

ConstructionConstruction

  • The construction industry in the GCC will continue to see growth, largely due to the amount of investment from government on infrastructure including hospitality, education, healthcare and public transport. 
  • The construction sector is expected to lead the way for highest job creation in the region according to Tarun Aggarwal, business head, Naukrigulf.com. 
  • In Saudi Arabia alone it is forecast that four million jobs will be needed in the next five years.

MiningMining

  • Lower crude oil prices and a stronger US dollar have been an unpredicted strength for many global mining companies helping to lower operating costs, thus more likely to take on new staff.
  • The mining industry continues to provide jobs for many workers, with some of the most competitive salaries out of any industry.
  • Foreman’s, operators, engineers and business development professionals were the most popular positions advertised with those results categorised as mid-career to management level jobs.

EngineeringEngineering

  • Whilst other industries are seeing cutbacks in certain areas, engineering are seeing advancements.
  • thanks to the pursuit of advancement in automotive technology, sustainability, industrial automation, biotechnology, infrastructure, and oil and gas exploration, engineers will enjoy a robust career outlook for years to come, according to Kelly Services.
  • The demand is predicted to rise 11 per cent in the coming years, equating to approximately 240,000 new engineering positions.

HospitalityHospitality

  • A total of 96 total projects and 36,523 rooms are currently in the pipeline in Dubai according to top hotel projects.
  • 2017 will be the busiest of years with 30 projects opening to the public including the first fully solar powered hotel.
  • There were in total, 707 vacancies found in the hospitality sector across the entire region at the time of publication. 

EducationEducation

  • With one of the youngest populations in the world, demand for skilled and western curriculum teachers and tutors is high.
  • Three new universities are expected to open and be built within the next year, requiring university professors and lecturers while an increased capacity at already established universities and college campus is expected also. 
  • In the UAE, rising demand for private schools, E-Learning and ICT are the main trends impacting hiring as we head into the second half of the year.

HealthcareHealthcare

  • In Saudi Arabia, the health ministry is planning to raise hospital capacity from 38,000 to 68,000 beds in five years.
  • The UAE’s budget has predicted the emirate to increase overall spending to its healthcare industry to $19.6 billion, a 6.9 per cent overall increase from its current position.
  • In a new survey conducted by a UAE-based job listing website, it was found that six in 10 healthcare companies (63 per cent) in the UAE are keen on hiring additional medical staff in the next three months to meet the growing demand for healthcare services.

LogisticsLogistics & Shipping

  • Logistics salaries are increasing but so too are general costs around the entire logistics process.
  • Many GCC nations doing well on the logistics scale with Saudi Arabia climbing to number two in this years Agility Logistics Index, while the UAE led the connectivity aspect of the index.
  • The most popular jobs were marine, safety, HSE and shipping officers, followed by tug masters and tug mates, crane operators, harbour masters, and marine superintendents in the Singaporean Shipping job vacancies.

TechnologyTechnology

  • Due to recent updates in Google’s index rankings, companies are investing more money into their IT departments for online marketing and SEO purposes.
  • Web developers are in high demand, so too are cyber professionals as a continued uncertainty around could computing matures into the market and within organisations.
  • The UAE was the most popular location with 96 advertise vacancies at the time of publication, 56 of them found in Dubai.

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