By Suhail Masri
Lifestyle and society: More jobs on the horizon?
The latest Bayt.com Middle East Job Index shows a continuation of a strong job market, as well as the prospect of more job openings to come in the UAE.
It revealed that 64 percent of employers in the GCC were planning to hire within the next year, with 69 percent of UAE respondents saying they or their companies intend to hire within the next 12 months. The Bayt.com Job Seeker Confidence Index Survey found nearly half of the respondents across the Middle East region stated their optimism in finding a job within the next six months.
In addition, there are several events in the UAE that are likely to influence the growth of the job market positively. The first is Expo 2020 Dubai, which will see even more employers looking for talent in order to gear up for this global event.
Secondly, the UAE recently launched the One Million Coders initiative, in partnership with Bayt.com, to help train one million young Arabs in the language of the future: computer programming.
It will give many businesses and organisations the opportunity to hire highly talented local professionals and to make great use of the Internet of Things (IoT) and the fourth industrial revolution technologies that are sprouting in the region very rapidly.
Thirdly, and despite the given challenges of setting up a business, the Bayt.com Entrepreneurship in the Middle East and North Africa Survey revealed that 66 percent of surveyed entrepreneurs said they are planning to hire for their businesses within the next year. It also revealed that over half (55 percent) of UAE residents prefer to ‘be self-employed or have their own businesses’, if given the choice.
Not only does this shift impact work preferences and the most valued job attributes, it also is likely to impact the growth of small and medium enterprises (SMEs) and their contribution to the job market, which can only be a good thing for sustainable, long-term growth.