Employment growth and increased wages entice expats to the GCC
According to a new report by GulfTalent, 2014 will be a year of growth and increased salaries for expats in GCC (Gulf Cooperation Council) countries including Oman, Saudi Arabia, Qatar and the UAE. The report shows the results of a survey of 34,000 professionals, 800 Executives and HR Managers and 60 Senior Executives across all major industries in the GCC region.
If you are an expat considering moving to Abu Dhabi, Dubai or anywhere in the UAE, click here to find out more information about Cadogan Tate’s specialist International Removals Service.
Amongst the key findings of the report, is that more companies expect to hire staff in 2014 than in 2013 and salaries in the private sector will rise at a faster pace this year for most countries, with the average wage in Oman increasing by 8% and the average wage in the UAE increasing by 5.9%.
According to the report, the UAE has strengthened its position as the prime destination for expats moving to the Middle East. This is most likely because of an increased optimism about the Emirates’ future following Dubai’s economic recovery as well as successful bids for the World Expo in 2020 and the 2022 FIFA World Cup.
Last year’s move to make health insurance compulsory for everyone in Dubai has also had a positive impact on employment in the region. The Healthcare sector witnessed the highest employment growth in 2013 (80%) and the report suggests that it will continue to grow in 2014 as governments continue to invest in the sector and other countries are expected to follow suit with mandatory health insurance. The Telecoms and IT sector noticed a 67% employment growth in 2013, due to accelerating demand, in line with global trends.
Earlier this year it was also announced that the Dubai Healthcare City has plans to build more retirement homes for locals and expats, which not only made the city more desirable to expats looking to retire there, but will also require an extra wave of medical professionals to be employed in the region. Read our article about the DHCC’s plans here.
Information correct at time of publication