UAE and Saudi employees prefer working in GCC, LinkedIn says

A majority (82 per cent) of professionals in the UAE and Saudi Arabia say they prefer working in the GCC region rather than moving to Europe or the US, according to a survey by LinkedIn.

About 46 per cent of respondents said the region’s standard of living made it a preferred destination, followed by the attractive lifestyle at 35 per cent and opportunities for professional growth on 31 per cent, the survey found.

“This comes as no surprise, as the UAE emerged as one of the most resilient international markets when it comes to hiring, with a 0.3 per cent annual increase in hiring, up by 30 per cent compared to pre-pandemic December 2019,” LinkedIn said on Wednesday.

The survey polled 16,288 white-collar professionals in full-time or part-time employment across Saudi Arabia, the UAE, the UK, India, Singapore and the US, among other countries, between November 24 and December 15.

The jobs market in the UAE, the Arab world’s second-largest economy, has recovered from the coronavirus pandemic, thanks largely to fiscal and social measures introduced by the government to attract skilled workers and incentivise companies to set up or expand their operations.

The Emirates is making a shift to an employers’ market, with more people moving to the UAE because of the lifestyle and economic problems in other countries, recruitment consultancy Robert Half said in its 2024 Salary Guide report.

With an influx of talent and more competition for roles, candidates are willing to accept lower remuneration to give themselves a foothold in the Middle East, which brings down the overall market rate and restricts salary growth, Robert Half said.

“This will give rise to a more competitive job market, so standing out from other candidates will be more important than ever,” Ali Matar, Europe, Middle East and Africa growth markets leader and head of LinkedIn Middle East and North Africa, said.

About 62 per cent of professionals in the UAE and Saudi Arabia are either looking for another job or plan to start looking for one soon, the survey found.

Higher salaries and the need for an improved work-life balance are the top two reasons for professionals seeking a career move, with 20 per cent of respondents saying that a better-paying job is a leading career goal for 2024.

“In 2024, we are seeing UAE and Saudi Arabia professionals taking agency and moving to the driver's seat when it comes to their careers,” said Mr Matar.

Nearly three quarters of job seekers also said that flexible work arrangements, such as hybrid working, are essential.

There is also a growing understanding of the importance of skills in the UAE labour market, with 83 per cent of professionals highlighting their skills instead of degrees when looking for a job, the survey found.

Seventy-six per cent said they would take on more projects at work to diversify their skills, while 72 per cent said they are spending more time than usual doing online courses to improve their career progression.

About 84 per cent of UAE professionals are keen to improve their skills, the research showed.

“We see an appetite among professionals in our region to upskill and invest in building their personal profiles,” Mr Matar said.

“Highlighting how one’s skills are relevant to the job they want and staying on top of industry trends will also improve chances of finding the right opportunity.”

Some of the fastest-growing job roles in the UAE over the past five years include real estate consultant, partnerships specialist, mortgage adviser, private client adviser, growth manager and building information modelling (BIM) architect, among others, according to LinkedIn.

Meanwhile, 79 per cent of Saudi professionals expressed confidence about interviewing for a new role and 78 per cent feel positive about searching for another job, the survey revealed.

This confidence comes from 77 per cent believing that their job prospects in 2024 are better than last year.

Six in 10 women in the kingdom are pursuing career moves in 2024 compared with 57 per cent of men, where a desire for better pay and better work-life balance is the motive, according to LinkedIn.

Over the past five years, roles such as patient care technician, information system analyst, BIM co-ordinator, health and safety manager and human resources operations specialist have emerged as the fastest-growing jobs in the kingdom, according to the LinkedIn data.

15 fastest-growing jobs in the UAE

Real estate consultant
Partnerships specialist
Mortgage adviser
Private client adviser
Growth manager
BIM architect
Sales development representative
Banking officer
Back-end developer
Front-end developer
Tax associate
Financial auditor
3D artist
Chief marketing officer
Product designer

15 fastest-growing jobs in Saudi Arabia

Patient care technician
Information system analyst
BIM co-ordinator
Health and safety manager
Human resources operations specialist
Environmental specialist
Partnerships specialist
Project management specialist
Legal specialist
Content creator
Interface specialist
Talent acquisition specialist
Commercial manager
Compliance specialist
Procurement contract specialist

Source: LinkedIn

The specs

Engine: 3.0-litre 6-cyl turbo

Power: 374hp at 5,500-6,500rpm

Torque: 500Nm from 1,900-5,000rpm

Transmission: 8-speed auto

Fuel consumption: 8.5L/100km

Price: from Dh285,000

On sale: from January 2022

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

The rules on fostering in the UAE

A foster couple or family must:

be Muslim, Emirati and be residing in the UAE
not be younger than 25 years old
not have been convicted of offences or crimes involving moral turpitude
be free of infectious diseases or psychological and mental disorders
have the ability to support its members and the foster child financially
undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially

While you're here

National Editorial: World trade has started to look inwards

Callum Patton: ‘Arrival of Asian century’ has eclipsed US

Robin Mills: Importance of China's energy markets clearer

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Is it worth it? We put cheesecake frap to the test.

The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?

My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.

The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.

So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.

Baby Driver

Director: Edgar Wright

Starring: Ansel Elgort, Kevin Spacey, Jamie Foxx, Lily James

Three and a half stars

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

Farage on Muslim Brotherhood

Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.

if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg

On Women's Day

Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action

Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?

Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'

The National Editorial: Is there much to celebrate on International Women's Day 2021?

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

La Mer lowdown

La Mer beach is open from 10am until midnight, daily, and is located in Jumeirah 1, well after Kite Beach. Some restaurants, like Cupagahwa, are open from 8am for breakfast; most others start at noon. At the time of writing, we noticed that signs for Vicolo, an Italian eatery, and Kaftan, a Turkish restaurant, indicated that these two restaurants will be open soon, most likely this month. Parking is available, as well as a Dh100 all-day valet option or a Dh50 valet service if you’re just stopping by for a few hours.

The Matrix Resurrections

Director: Lana Wachowski

Stars: Keanu Reeves, Carrie-Anne Moss, Jessica Henwick

Rating:****

While you're here

Kareem Shaheen: Even a pandemic could not unite today's America

Michele Wucker: The difference between a black swan and a grey rhino

Robert Matthews: Has flawed science and rushed research failed us?

While you're here

Gavin Esler: Will 2021 be Boris Johnson's worst year?

Thomas Harding: US relations with Europe could change

Brodie Owen: How England’s new lockdown rules work

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”