GCC job opportunities look promising:Report
GCC's $2.1tn worth of projects set to create new job opportunities
10 August 2009
MUSCAT -- The GCC is expected to generate numerous jobs over the coming few years as development projects continue to take place, creating opportunities for qualified young Arab jobseekers and foreign workers in the region. Combined value of projects planned or being carried out in the GCC has totalled around $2.1 trillion at the end of the second quarter of 2009, according to a study by Kuwait National Bank (KNB). The value of the current projects is more than four times the estimated value of projects in June 2005, representing an annual growth of nearly 50 per cent.
Complementing these findings, a recent study by human resources consulting firm Mercer revealed that about 73 per cent of companies across the GCC aim to achieve higher or similar growth this year compared to 2008, prompting up to 60 per cent of companies to increase their headcount by 2010.
TalentRepublic.NET, an emerging leader in the employment service market, has accordingly launched its online recruitment services in the Middle East, aiming to further stimulate the region's recruitment sector by offering a cost-effective, reliable and fast-acting platform that satisfies the diverse requirements of jobseekers and employers.
TalentRepublic.NET further revealed that it is focusing on delivering top-quality staffing solutions, as regional companies are increasingly looking for high-competent talent to remain competitive and enhance long-term sustainability. In Saudi Arabia alone, around 10.8 million workers will be required by 2014 to complete and sustain existing and future projects, a recent study by the Riyadh Chamber of Commerce and Industry (RCCI) revealed. The study pointed out that only 5.45 million Saudi nationals will be ready to take up the new jobs, opening huge employment opportunities for expatriate workers, including young Arab jobseekers.
TalentRepublic.NET pointed out that it remains imperative for companies to optimise their recruitment programme as a key to business survival and growth. Recent research in fact indicates that the global financial crisis has further enhanced the Gulf's already favourable status as an employment option and has even enriched the region's job market as top-calibre expatriate workers from the US and Europe, especially those in the financial services sector, are now seeking better opportunities in high-potential areas such as the GCC. According to TalentRepublic.NET, the GCC also remains an attractive destination because of a tax-free environment, exceptional living standards, a rich cultural and geographical landscape and numerous career opportunities.
Industry experts have likewise pointed out that growth sectors such as construction, retail and leisure are expanding demand for workers with specialised skill sets, while the Gulf's thrust towards economic diversification is expected to further drive the region's demand for top-calibre talent.
TalentRepublic.NET also pointed out that the current economic situation is largely a transition period, providing companies an opportunity to refocus their objectives and realign their strategies, particularly in terms of optimising their human resources.
© Oman Daily Observer 2009
http://www.zawya.com/printstory.cfm?storyid=ZAWYA20090810031959&l=031900...
they do some changes on sponsorship or visa system for expat workers, then maybe we can see major changes. Otherwise, it will be too good to be true. As what the newspaper today said, 'more buildings, no takers.'
Let me add some: Facts and perceptions on workers in GCC
Alarming demographics
The report points out to alarming statistics about the region's demographics. The document suggests that some 80 per cent of GCC nationals are below 25 years of age. This phenomenon reflects extraordinary population growth rates over the past two decades, exceeding five per cent per annum in several GCC nations. However, population growth rates now averages around three per cent.
Nevertheless, the statistics indicate availability of local workforce in the years ahead. Most youths seek employment after graduation rather than depend on their parents for their financial well-being. Some elect to attain higher degrees notably professional certificates while working. Education is viewed as a gateway to gaining best possible employment opportunities.
On the other, finding suitable positions for new entrants in the job market is a daunting challenge. The majority of locals prefer working in government departments or more appealing positions notably the financial services sector. In other words, labour authorities cannot overlook the fact that the challenge relates to finding suitable employment positions for locals and certainly not just creating many job opportunities.
...In conclusion, job markets in GCC are likely to experience fundamental changes in the not too distant future. Already, Bahrain has decided to grant foreign workers the right to change sponsors, as per article No. 25 of the Labour Law. Certainly, change is the order of the day with regards to regional job markets.
http://www.zawya.com/printstory.cfm?storyid=ZAWYA20090809101334&l=101300090809
talk , talk and some more talk, actions speak louder the words, let's see first .....
as far as I'm concerned, our company terminated some employees last year and now they cut the supplies of coffee and tea...what's next? I can see the future looking bright only in papers
can you see the future looking bright really in GCC?