With strong economic growth, a booming construction industry and millions of dollars of investment flooding into the technology sector, two thirds of business leaders in the UAE are feeling positive about their growth prospects.
Our latest research shows that the improved economic situation, increased demand for products and services, and expanding business opportunities are driving confidence.
To support growth, many businesses are planning to increase their headcounts over the next 12 months, yet current hiring behaviour is not matching up with that intention – which could be storing up problems for late 2024 and into 2025.
Freeze on hiring
The UAE economy may be going great guns, but global uncertainty is putting a cat among the pigeons.
Many organisations have implemented hiring freezes until they know the outcomes of the UK general election in July and the US presidential election in November, while others are waiting for interest rates to stabilise.
As a global hub, many businesses in the region could be hugely impacted by shifts in the economic and political situations worldwide.
With this, in addition to high inflation globally, many business leaders are opting to play it safe and put off important decisions.
But dallying too long could leave them without the skills they need to achieve their target growth – it is all a balancing act.
Expat influx
Those who are still hiring are benefitting from the huge influx of expat talent flowing into the UAE, and specifically Dubai, over the past 12 months.
Many professionals we are speaking to – particularly those from the UK – are keen to take advantage of everything the UAE has to offer, from the booming economy to the culture and sunshine.
In fact, they are so keen that many are coming to the country without having a job secured in advance.
In theory, this is great news for businesses who are on the lookout for fresh talent. About 71 per cent of hiring managers in the UAE agree that it has become easier to attract workers over the past 12 months.
Companies are receiving more job applications per role than they were 12 months ago, leaving them in a position where they can pick and choose talent because there are more expats available.
The immediate availability of candidates means that businesses can get workers into roles more quickly, and they can also offer lower salaries because the unemployed are willing to take large pay cuts to secure a role and their visa amid fierce competition.
It sounds great on the surface – for businesses, at least – but there is a difference between readily available candidates and technically-skilled talent.
Around half of business leaders agree that while it is easier to find workers, it is not easy to find people with the right skills – and this is particularly true when seeking candidates who are already in the UAE or who have previous local experience.
Those already in the country have benefitted from significant wage growth in the region over the past few years, and as a result many are on higher salaries than hiring managers are expecting to pay. As they already have their visas secured, they are also unwilling to take the same pay cuts as the unemployed expats.
The expectations gap is a challenge for business leaders – who must choose between hiring talent with the skills they need, and hiring cheaper and readily available workers who would probably require development to help them meet objectives.
When businesses opt for the cheaper option, we often see that they end up back where they started when their new hires do not work out – wasting both time and money.
A rush on technical skills?
With many businesses taking a pause on hiring and others likely to come back to the table in search of skilled and experienced workers, it is likely that we will see a rush for the most talented workers later in the year.
At that point, the sudden increase in demand will see businesses competing for talent and having to increase the salaries on offer to secure and retain their first-choice people.
We would strongly urge business leaders to weigh up the importance of the skills they need against the cost and to reconsider hiring freezes if they can, or they could find their growth ambitions impeded by a lack of talent when they need it most.
The UAE economy is going from strength to strength, and it is important that businesses are able to seize emerging opportunities as they arise.
Gareth El Mettouri is director – Middle East at Robert Half
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Killing of Qassem Suleimani
KILLING OF QASSEM SULEIMANI
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
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Important questions to consider
1. Where on the plane does my pet travel?
There are different types of travel available for pets:
- Manifest cargo
- Excess luggage in the hold
- Excess luggage in the cabin
Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.
2. What is the difference between my pet traveling as manifest cargo or as excess luggage?
If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.
If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.
3. What happens when my pet arrives in the country they are traveling to?
As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.
If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.
If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.
4. How long does the travel paperwork and other travel preparations take?
This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.
In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.
5. What vaccinations does my pet need to travel?
Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.
Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.
Source: Pawsome Pets UAE
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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Killing of Qassem Suleimani
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
The specs
Price: From Dh529,000
Engine: 5-litre V8
Transmission: Eight-speed auto
Power: 520hp
Torque: 625Nm
Fuel economy, combined: 12.8L/100km
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
ADCC AFC Women’s Champions League Group A fixtures
October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
