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Tue 30 Dec 2008 12:15 PM

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Chief execs still upbeat about Gulf prospects

Middle East survey of top execs also reveals up to five-year career plan for region.

Chief executives in the Gulf believe business in the Gulf will not be as badly affected by the global economic crisi as other parts of the world, according to the results of a new survey.

The Stanton Chase International CEO Census - Middle East also revealed that top executives on average are planning to stay in the region for up to five years before moving on.

The report showed that the profile of the top executives in the UAE and overall GCC region seems to be shifting, accommodating the changes caused by the ongoing international economic crisis as well as by the inevitable growing maturity of the market.

It revealed a closer focus on quality, longer-term perspective in business development in the market including entrepreneurial activity, commitment and determination to build on the opportunities offered in the region.

And top executives said they are still quite optimistic for the overall growth perspectives and seem to believe that the GCC markets, though not immune, will be less affected by the global crisis.

Although the UAE is an open market with high mobility and constant arrival of more high-level professionals, the report highlighted a perceived high shortage of talent.

The time period a top exec would plan to stay in the same position in the region average from two to five years, but the length of this period was getting longer rather than shorter.

The report also noted that, although 'open to suggestions', most top executives would not be interested in immediate changes in their career and are quite focused on their current position.

This is a significant change in a market that until now has been considered so unbalanced that changing positions even within a one-year period was considered a common and acceptable market practice.

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