The state of economies are ever changing and the world’s economy is set to grow in 2018, but what about the regional economies?
The latest results from the Middle East Job Seeker Confidence Survey carried out by job site Bayt.com and YouGov, indicates that nearly three quarters (74 per cent) of those who answered the question regarding business conditions in the UAE expect business conditions in the UAE to improve. 17 per cent said they expect business conditions to “remain the same,” while only 9 per cent said they could get worse.
Concentrating on the current availability of jobs, more UAE respondents believe that there are currently “plenty of jobs available across various industries” in comparison to those who believe there are “few jobs available across few industries”.
With regards to job satisfaction levels, 50 per cent of UAE respondents are satisfied towards their career growth opportunities and 24 per cent are neutral. A similar pattern was seen when it came to training and professional development. 50 per cent of respondents said they are satisfied with this aspect while 19% were neutral. In terms of work-life balance, 48 per cent of UAE respondents said they were satisfied, while 24 per cent were neutral.
Looking at future career growth opportunities, 53 per cent of UAE respondents believe that career growth opportunities will get better over the next six months, 35 per cent said they will remain the same, while only 12 per cent said they could get worse.
This positive outlook by respondents was also reflected on their expectations for compensation in the next six months, with 47 per cent believing that it will get better. 38 per cent expect their compensation to remain the same, while only 15 per cent said it could get worse.
“As the leading job site in the Middle East, it is our role to provide all professionals with insights on the economic and financial conditions and how they connect to the job market and availability of career opportunities,” said Suhail Masri, Vice President of Employer Solutions, Bayt.com. “At Bayt.com, we aim to empower professionals, job seekers and employers alike, so that they can address and overcome any economic changes and make room for improvements in their careers. Our organisation works with over 29 million professionals and provides them with the necessary tools and technologies to enhance their profiles and CVs on our portal. We have also worked with over 40,000 companies who advertise over 10,000 vacancies on Bayt.com on any given day, as well as use Bayt.com’s CV Search tool to find and recruit thousands of qualified job seekers for their business.”
Personal Economic Conditions
UAE respondents were asked about their personal financial conditions. Out of those who provided an answer, 63 per cent of UAE respondents believe that their or their family’s financial position will “improve” in the next six months. 24% of respondents expect their financial conditions to “remain the same as it is now,” while only 12 per cent them to become worse.
Looking at current business conditions, more than eight in 10 respondents who provided an answer (82 per cent ) think they are “good”, “very good”, or “average”. UAE respondents are also very optimistic about future business conditions within the next year, where nearly three quarters (74 per cent ) of those who answered the question expect business conditions in the UAE to improve. 17 per cent said they expect business conditions to “remain the same,” while only 9 per cent said they could get worse.
Anjali Chhabra, Senior Research Manager, YouGov, said: “It is important for us to regularly conduct thorough research regarding job seekers’ and employed individuals’ sentiments and opinions and share that information with the region. The Middle East Job Seeker Confidence Index survey gives us many insights into the personal, business and economic conditions of the region. For instance, the majority of respondents are anticipating significant improvements in business conditions and availability of jobs. If this holds true, it will surely reflect positively in many other areas in the economy.”
Data from the 2017 Bayt.com Middle East Job Seeker Confidence Survey was collected online from August 1st, 2017 to August 24th, 2017. Countries included the UAE, KSA, Kuwait, Oman, Qatar, Bahrain, Lebanon, Jordan, Egypt, Morocco, Algeria, and others.