UAE professional job opportunities up 15pc
Dubai, October 21, 2013
The professional job opportunities across the UAE increased by 15 per cent to 6,458 vacancies in the third quarter when compared to 5,611 last year, according to a new survey.
The number of professionals looking for work in the emirates increased by 19 per cent year-on-year, said the survey by global recruitment specialist Morgan McKinley.
The recruitment activity in the professional jobs market increased by two per cent from 6,310 vacancies in the second quarter to 6,458 in the third quarter.
Professionals looking for new positions in third quarter surged by nine per cent to 35,790 from 32,760 the previous quarter and a 19 per cent (round up to 20 per cent as it’s 19.6 per cent) rise on the 29,901 jobseekers who were searching for new job opportunities in third quarter 2012.
Trefor Murphy, the managing director, Morgan McKinley UAE said, "The UAE economy continues to grow at a steady pace which is very much reflected in the local stock markets which continue to perform well. The Dubai Financial Market stock exchange is up 75 per cent over the past year and the largest Arab stock market, in Saudi Arabia, has risen by a third over the past two years."
"This positivity has prompted banks to foster a more competitive lending environment and organisations across the region are taking advantage of this confidence," he pointed out.
“As we highlighted in the last report, the construction industry continues to grow, with significant building projects due to begin in the coming months thanks to international investment from the UK, Russia, India and East Asia," stated Murphy.
"The strong recovery of Dubai’s real estate sector was particularly evident at the recent Cityscape Global conference, where investors scrambled to snap up units as new development plans were showcased," he added.
According to him, this positive sentiment has also created solid demand for business analysts and merger and acquisition specialists across every area of business as organisations look to put in place fresh investment strategies post-recession as they plan for next year.
Entrepreneurial dealmakers who have had experience working in more established markets such as London, New York and Hong Kong are particularly sought after, remarked Murphy.
"As we move into 2014 and beyond, we expect to see this activity continue as companies persist in seeking out the most profitable avenues for growth," he stated.
“In the same vein, we have also noted an increase in demand for procurement specialists with strong international backgrounds who are able to implement sophisticated systems and processes to provide greater value for money. As a result, more employers than ever before are looking at investing in driving profit through procurement,” he added.-TradeArabia News Service