Reviving Job Market in Gulf
The dream of millions of working in Gulf was disrupted heavily by the prolonged period of recession that hit the world economies for a year-and-a-half. Many expats lost their jobs and returned to their home countries owing to the huge losses suffered by the company. But this is a thing of past as Gulf job markets have shown resilience and recovered almost fully from the depressing times of recession. Employers in Gulf are now raring to go and are all geared up to hire well qualified professionals from outside the region. Both the freshers and the experienced candidates will be considered for the vacancies available in the region.According to a survey, around 60% GCC employers are looking forward to recruit new staff next quarter. GCC i.e. Gulf Cooperation Council comprises of six members-Saudi Arabia, Kuwait, Oman, Bahrain, Qatar and United Arab Emirates (UAE). The GCC seeks to coordinate and strengthen cooperation among its members and progress towards economic integration. This clearly indicates that all these six regions will at least hire expatriates in full swing in the coming times. Hiring process will take toll on all sectors from healthcare to teaching, from management to telecom, from sales to real estate, from marketing to engineering, etc.
In another survey, GCC employers are found to be upbeat about hiring prospects in the year 2010. The attitude towards business environment is described as optimistic with 59% being fairly positive about it. As cited by the Philippine Overseas Employment Administration, the job markets in all six members of the GCC are improving despite the global economic crisis. Apparently, job cuts and lay offs have become history in the Gulf region as employers get ready to invite foreign professionals to their companies. Even though a slump in salary growth has been noticed, average pay rises have exceeded the increase in cost of living for the first time. This has resulted in a better quality of life and higher saving potential for both the natives and expatriates.
Among the GCC members- Saudi Arabia, Kuwait, Oman, Bahrain, Qatar and UAE, Dubai, Abu Dhabi and Doha are also full on engaged in beginning the hiring activity. Among these three, Dubai has especially become a hotspot for hiring fresh graduates. Various international companies across industries have been establishing their presence in the region creating plenty of jobs in Dubai. This helps in creating diverse career opportunities for professionals from all walks of life ultimately achieving the objective of economic diversification. The governments of Gulf regions have been focusing on becoming less dependent on oil and natural gas reserves by shifting concentration on other sectors. Travel & tourism, healthcare, teaching, banking, finance, marketing have become some of the most important sectors in Gulf.
Jobs in Gulf are in plenty today and not in just oil & gas sector but others as well. It is a fast developing region that has been encouraging skill and industry specific growth in order to achieve an overall development. This is why Gulf jobs promise higher tax-free salaries and a relaxing lifestyle with various recreation sources. In spite of being an Islamic region, it extends a very warm and comfortable atmosphere to the outsiders who come to the region to help it grow. Expatriates are looked at with respect and welcomed with open arms in Gulf countries.