It’s the beginning of New Year and the UAE has already been buzzing with immense prospects of economic growth on various economic fronts. Having claimed a strong possibility of diversification in a non-oil sense, there’s ample one needs to understand before trying their hands at the competitive Emirati job market.
Right from a hustling real estate sector, to a banking industry that is going ballistic with foreign capital, there’s so much that can be deciphered and implemented to land in one’s dream job here. Building on similar lines, there have been ample instances when this exotic Arab land has shocked all presumptions and economists by producing results that make it the dark horse amongst all Gulf States. Here’s a deeper insight into the same situation. Grab all that you can to perfect your job search in this part of the world.
The Economy to Expand Conditionally During 2016
INS spite of the steady downturn of oil prices, the UAE has shown immense resilience in terms of keeping a constant growth to happen on various non-oil fronts. The growth rate is expected to be maintained at the same 3.5 percent as 2015, with further investors foraying into the Emirati market. While the country seems strong on its economic policies, the tightening of liquidity across the entire GCC would definitely cause some tightening in the job market.
Oil prices have surely brought down the government revenues to a considerably meagre number, hence increasing the effective competition per job vacancy, be it any field or sector one talks about. However, the regime seems adamant about the fact that an increased level of supplies from OPEC would help their case and let them survive with downfallen oil prices for another 2-3 years. All that’s required at the moment is a proper structure in spending and structural reforms, and before one knows, the Emirati market would again be booming with job openings and investing opportunities during the days to come.
Diversification to Happen for the Greater Good
Talking about diversity, obviously, the revenues need to drive in from one source or the other. If not oil, then it has to be the other subsidiaries that have to drive operations with full throttle and boost up the revenues in the non-oil sector. SMEs have been one such case that accounted for more than 60% of the non-oil GDP during 2014. Same is the case with industrial sector that contributes 14% to the non-oil GDP currently and is expected to touch the bar of 25% by 2025. Adding to the same, the total sum of foreign investments in 2015 mounted up to a huge figure of USD 126 billion by the end of 2015. This sure does indicate towards the diversity blossoming within the UAE economy.
Your UAE Job Search in 2016
There’s not much that you need to change with respect to your job search campaign in the country. With corporations going a tad specific with respect to their hiring requirements, all that’s required is staying focused on job roles and demonstrating your international work experience in the most efficient way to various corporations hiring across all non-oil sectors.
Right from undergoing a heavy research on different companies, to being sure on the skills you’ll append upon, you need to be highly conspicuous as far as your network is concerned. Make sure the referrals you have a good say in your favor, hence helping yourself to tap the hidden job market hungry for talent across all seven emirates.
It’s just the basics with a complete awareness about the market dynamics you need to have, rest, the UAE has got immense in store for you.
Author Bio: Anshuman Kukreti is a professional writer and a keen follower of the global job market. An engineer by qualification and an artist at heart, he writes on various topics related to employment across the Gulf. Reach him @ LinkedIn, Twitter