Skilled professionals working in Saudi Arabia are likely to receive a pay increase this year despite an economic slowdown induced by Covid-19 last year, according to new research by global recruitment consultancy Hays.
While 9 per cent of workers in the kingdom experienced a pay cut last year, 39 per cent received a salary rise and 52 per cent said it remained the same, the Hays 2021 Saudi Arabia Salary and Employment report revealed.
However, 53 per cent of employers and 56 per cent of employees expect salaries to increase in 2021, the report, which surveyed more than 600 skilled professionals in the kingdom, said.
“Saudi Arabia has not been exempt from the negative impacts of Covid-19,” Chris Greaves, managing director of Hays in the Middle East, said.
“However, this was largely only during the height of the pandemic and when looking on a global scale, Saudi Arabia’s job market has fared very well.”
Employers in Saudi Arabia, the Arab world’s largest economy, are optimistic about a post-Covid-19 recovery in 2021, the survey said.
The kingdom is poised for a modest economic recovery in 2021, led by the non-oil sector. Business activity in the country's non-oil private sector expanded modestly last month, with the seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers' Index falling to 53.9 in February from January's high of 57.1. A reading above the neutral 50 level indicates an economic expansion, while a reading below points to a contraction.
The kingdom's economy is expected to grow 2.6 per cent in 2021 and 4 per cent in 2022, following a 3.9 per cent contraction last year, according to International Monetary Fund forecasts.
Eighty-one per cent of respondents to the Hays survey said their companies are in recovery, business as usual or growth phases since the pandemic. In contrast, 62 per cent expect business activity to increase in 2021 and 76 per cent plan to recruit additional staff over the next year, according to the report.
While many organisations in the kingdom will remain cautious on workforce spending, 53 per cent of employers said they will award pay rises of up to 5 per cent to employees in 2021.
“We have certainly witnessed growing confidence in the market since the last quarter of 2020,” Mr Greaves said.
“While organisations will want to keep a lid on pay increases in an attempt to recoup some of the financial losses made in the past year, we expect this optimism to translate in a higher number of pay rises in 2021 than were awarded in 2020.”
The busiest sectors for hiring include life sciences, healthcare, manufacturing and real estate. Automation and digital transformation remain key priorities for many companies, which will also see high demand for IT and tech professionals in the kingdom.
Higher salaries will drive 44 per cent of professionals to move jobs in the next 12 months, boosted by the government’s Iqama reforms, which come into effect this month and allow workers to change jobs without the consent of their employers once their contract ends.
“We expect mobility of labour to be higher than previous years with professionals being more willing to leave an organisation based on pay offered by another. Employers will need to be competitive with salaries, paying more than others to secure the top talent,” Mr Greaves added.
The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.
Edge has an annual revenue of $5 billion and employs more than 12,000 people.
Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab
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Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Recipe
Garlicky shrimp in olive oil
Gambas Al Ajillo
Preparation time: 5 to 10 minutes
Cooking time: 5 minutes
Serves 4
Ingredients
180ml extra virgin olive oil; 4 to 5 large cloves of garlic, minced or pureed (or 3 to 4 garlic scapes, roughly chopped); 1 or 2 small hot red chillies, dried (or ¼ teaspoon dried red chilli flakes); 400g raw prawns, deveined, heads removed and tails left intact; a generous splash of sweet chilli vinegar; sea salt flakes for seasoning; a small handful of fresh flat-leaf parsley, roughly chopped
Method
▶ Heat the oil in a terracotta dish or frying pan. Once the oil is sizzling hot, add the garlic and chilli, stirring continuously for about 10 seconds until golden and aromatic.
▶ Add a splash of sweet chilli vinegar and as it vigorously simmers, releasing perfumed aromas, add the prawns and cook, stirring a few times.
▶ Once the prawns turn pink, after 1 or 2 minutes of cooking, remove from the heat and season with sea salt flakes.
▶ Once the prawns are cool enough to eat, scatter with parsley and serve with small forks or toothpicks as the perfect sharing starter. Finish off with crusty bread to soak up all that flavour-infused olive oil.
23-man shortlist for next six Hall of Fame inductees
Tony Adams, David Beckham, Dennis Bergkamp, Sol Campbell, Eric Cantona, Andrew Cole, Ashley Cole, Didier Drogba, Les Ferdinand, Rio Ferdinand, Robbie Fowler, Steven Gerrard, Roy Keane, Frank Lampard, Matt Le Tissier, Michael Owen, Peter Schmeichel, Paul Scholes, John Terry, Robin van Persie, Nemanja Vidic, Patrick Viera, Ian Wright.
UAE currency: the story behind the money in your pockets
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ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
The view from The National
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Real Madrid 1 (Ramos 73' pen)
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Specs
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AT4 Ultimate, as tested
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UAE currency: the story behind the money in your pockets
How Filipinos in the UAE invest
A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.
Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).
Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.
Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
