Dubai, 19 January 2016 - The United Arab Emirates is rising to the challenge of oil price fluctuations, as the country's efforts to diversify its economy have secured robust hiring activity in non-oil sectors, according to the inaugural Monster.com Middle East Employment & Opportunities report.

As part of the Monster Employment Index (MEI), a monthly gauge into the region's recruitment scenario, Monster.com monitored eleven occupational categories across twelve broad industry sectors and tracked online job postings in the six GCC economies as well as Egypt since 2011. Using its findings from the past five years, Monster.com drew together one single Middle East Employment & Opportunities report.

Apart from 2013, all calendar years under consideration recorded steady job creation across the GCC landscape. Compared to 2014, the year-on-year growth momentum improved significantly in 2015. Oil and Gas is the only sector where employer hiring activity has plunged from a year-ago level, with the growth rate down by 10 per cent in 2015.

In the United Arab Emirates, the Monster.com report reveals that the job market was very optimistic in 2015, even if the online hiring rate is still much below that of 2012. Largely led by a customer and service-oriented industry, a steady rise in demand was registered for professionals in Software, Hardware and Telecom, Finance and Accounts, as well as Sales and Business Development.

"Looking at the past five years, we have seen a lot of fluctuations in the job market in the UAE, with the global financial crisis shaking up the economy," says Sanjay Modi, Managing Director, Monster.com (India, Middle East, South East Asia and Hong Kong). "Employer hiring activity was growing at an average rate of 16 per cent in 2015. This is significant when viewed against a backdrop of prolonged economic turbulences, and shows how successful the Emirates has been in diversifying the economy when expanding the non-oil sector over the past couple of years."

Even if the UAE non-oil sectors contribute to more than two third of the country's GDP, challenges remain. This year, the country's GDP growth rate is projected to remain at the same 2015 level of approximately 3.1 per cent this year. The government is forced to increase its revenues; already the UAE has deregulated fuel subsidies and is discussing VAT taxes to be introduced at a GCC-level in the next three years.

To further raise its non-oil national income, the UAE is looking into the business potential of renewable and sustainable energy. Authorities have pledged that by 2020 clean energy will generate 24 per cent of the country's electricity, with the Dubai Solar Park being capable of producing 5,000 megawatts of electricity by 2030. The SME sector is significant for UAE's economic growth. SMEs accounted for 60 per cent of the non-oil GDP in 2014 and the UAE government seeks to raise the figure to 70 per cent by 2021. The UAE also aims to see a five per cent contribution by 2021 from the innovation sector, making the UAE perfect for technology start-ups. To stay ahead of competition, education is a top priority as well. Plans to further enhance training programmes for public schools are currently under discussion, with a view to produce an educational environment where Emiratis and residents can develop specific skills which meet today's market demands.

A country on a fast track to the Expo 2020

With an anticipated 25 million visitors coming to the Emirates in 2020, one of the biggest opportunities to ensure future revenue lies in Expo-orientated development plans. "The World Expo 2020 to be hosted in Dubai is expected to pull inward investment in the Emirates and lead to a major job boom, with additional jobs being created in Tourism and Hospitality," adds Modi. "Similarly, the retail, trade and logistic sector appear promising, as the mega-event increases penetration of international retail players, with ripple effect on infrastructure projects and construction activities."

Medical tourism to fuel Healthcare sector

The Healthcare sector is progressing at a heightened pace this year, with online hiring increasing at the rate of 21 per cent year-on-year. "The Emirates are one of the top destinations for cosmetic medical treatment," says Modi. "For many GCC citizens, Dubai is a preferred choice for cosmetic dentistry and cosmetic surgery in general. This is due to expertise in the field and the proximity to other Gulf States, where the biggest chunk of clients come from." The Dubai Health Authority (DHA) plans to increase the proportion of foreign visitors into the Emirates by almost 12 per cent, with a target of 500,000 medical tourists by 2020 compared to approximately 107,000 in 2012.

Smart city plans call for specialist skills in technology

The steepest growth in online opportunities was registered in the IT and Telecom/ISP this year, with online recruitment in the sector moving at a pace of 23 per cent year-on-year. "This is impressive when looking at the past years, where the average year-on-year job growth was at six per cent in 2012, negative 13 per cent in 2013 and three per cent in 2014," Modi commented. "The Internet of Things is transforming the recruitment landscape in the United Arab Emirates. Demand for personnel in Customer Service, for example, is diminishing slowly as automation technology continues to replace manpower in the field." With Dubai being at the forefront of the digitization drive, the Emirates have one of the highest Internet and smart phone penetrations in the world, with more online service portals and mobile applications coming to the market.

-Ends-

About the Monster Employment Index
Launched in April 2011 with data collected since October 2010, the Monster Employment Index is a broad and comprehensive monthly analysis of online job posting activity in the Middle East conducted by Monster.com.  Based on a real-time review of tens of thousands of employer job opportunities culled from a large, representative selection of online career outlets, including Monster Gulf, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide. Monster has taken due care in compiling and processing the data available from various sources for Monster Employment Index, but does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or action / decision taken or for the results obtained from the use of such information. 

About Monster Worldwide
Monster Worldwide, Inc. (NYSE: MWW) is a global leader in connecting people to jobs, wherever they are. For more than 20 years, Monster has helped people improve their lives with better jobs, and employers find the best talent. Today, the company offers services in more than 40 countries, providing some of the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities. Monster continues its pioneering work of transforming the recruiting industry with advanced technology using intelligent digital, social and mobile solutions, including our flagship website monster.com® and a vast array of products and services.  For more information visit monster.com/about.

© Press Release 2016