Despite the oil crisis, jobs in Abu Dhabi and in the UAE continued to boom during the past years, thanks to the choice of diversified economy.
Even with the global low oil price, the job market remained in a starkly rise due to an economy which is based on alternative resources and to a strategy able to reduce oil dependence. All this goes hand-in-hand with big investments in innovation and in renewable energies.
According to a research carried out by the Monster Middle East portal regarding the employment-to-job vacancy ratio, the country proved to have reacted very well, by winning the challenge of oil price fluctuations, with strong efforts to diversify the economy which has made it possible to boost employment in non-oil sectors.
The United Arab Emirates has recorded a constant increase of employment in almost all sectors. The Monster.com portal has monitored 11 professional categories and in 12 industrial sectors starting from 2011.
Data show that a stable employment has been created in the last five years, with the exception of 2013.
Compared to 2014, the Oil & Gas Sector has reduced employment in 2015, while all other sectors have registered an increase.
“The UAE job market faced big fluctuations in the past five years, due to the global financial crisis which has shaken down the world economies” stated Mr. Sanjay Mody, Managing Director of Monster.com for India, Middle East and Southeast Asia.
Employment increased at an average rate of 16% in 2015. This is an important record that shows the success of the United Arab Emirates policies regarding the diversification of the economy during the past two years.
The analysis of the UAE job market shows that the service industry occupies the topmost position in creating employment opportunities. It was evident that there has also been a strong demand for professionals in IT, telecommunication, finance, book-keeping, sales and business development.
In 2015, the IT sector registered the highest growth in terms of employment with an increase of 23%.
Health care is another successfully growing sector. In fact, the last year witnessed a 21% employment increase in this field. Many gulf citizens prefer to travel to the UAE for cosmetic surgery and cosmetic dentistry.
The study focuses on the sectors of renewable and sustainable energies which the UAE intends to develop with an aim to increase its GDP.
In fact, the UAE government goal is to use renewable and clean energies to produce the 24% of electric power by 2020, creating new job opportunities.
Moreover the UAE government intends to reach an increase of 5% in the innovation sector by 2021, making the country a leader in start-up technologies.
Education is another priority sector which is not to be neglected.
Public schools training programs are going to further improvement in order to develop specific skills, to meet the present needs of the job market.
Expo 2020 is one of the greatest opportunities to guarantee a better future and a higher development of the country as a whole.