UAE jobs, salaries set to grow faster this year
UAE, 17 Mar 2014
Hospitality and retail are likely to dominate job growth in 2014.
Around 57 per cent companies in the UAE are likely to create jobs in 2014, and a salary increase of 5.9 per cent can be expected in the private sector, a survey of GCC countries has shown.
The survey, carried out by online recruitment firm GulfTalent, shows 2014 will be a year of stronger employment growth and higher salary rises.
The "Employment and Salary Trends in the Gulf" survey showed that Saudi Arabia was the leader in job creation in 2013, with 62 per cent of companies increasing their headcount last year. It was followed by the UAE and Kuwait. Healthcare was the leading sector, with 80 per cent companies creating jobs that year.
The survey also found that across the GCC, more companies expect to increase their headcount in 2014 compared with last year. 75 per cent of companies in Qatar will create jobs this year, followed by Saudi Arabia and the UAE, with 63 per cent and 57 per cent, respectively. Figures for Bahrain stand at 30 per cent, compared with merely 9 per cent last year.
Hospitality and retail are likely to dominate job growth in 2014. 61 per cent of companies in the hospitality sector are planning to increase their headcount, as they expect 2014 to be a year of growth for the industry, the survey showed. As regards the retail sector, 57 per cent of firms will create jobs, driven by the region's rapid population growth and increasing penetration of retail outlets in more remote locations.
Across most of the GCC, private sector salaries are forecast to rise at a faster pace in 2014 compared with the previous year. Oman, where employees are expected to enjoy an average pay increase of 8 per cent, leads the field. Saudi Arabia comes next with 6.8 per cent, followed by Qatar at 6.7 per cent and the UAE at 5.9 per cent. Kuwait and Bahrain are forecast to have the region's lowest salary increases, projected at 5.8 per cent and 3.9 per cent, respectively. While the salary increases are higher than the previous year, they continue to be below the levels seen before the crisis.