The UAE has emerged as the top provider of job opportunities among the GCC countries, with an 8% growth in employment during the third quarter of 2024, according to a Khaleej Times report which cites Cooper Fitch’s latest report on the Gulf employment market. Saudi Arabia followed closely with a 7% increase in job creation.
Recruiters predict that this upward trend in hiring will persist into 2025, supported by strong performances in both the oil and non-oil sectors. The report indicated that job creation across the GCC saw an overall growth of 6.5% in the third quarter, marking a positive shift as the year comes to a close.
Analysts at Cooper Fitch noted that recruitment activity has gained momentum following a challenging start to the year and is expected to maintain this pace into early 2025.
While Qatar experienced a 3% increase in job creation, Kuwait, Bahrain, and Oman saw declines in new job opportunities. The report highlighted a significant 14% rise in new job opportunities within the strategy consulting sector, particularly in TMT (technology, media, and telecommunications), transportation, energy, and retail. Real estate also showed promise, reporting a 9% growth as firms began implementing their 2024 hiring plans.
Driven by high oil prices and thriving non-oil sectors, the UAE and other GCC economies have witnessed considerable post-pandemic growth. Key sectors contributing to job expansion include travel and tourism, real estate, aviation, banking, retail, and logistics. This surge in employment has led to a rapid population increase in Abu Dhabi and Dubai, as professionals and investors flock to the region to benefit from its robust economy. The International Monetary Fund (IMF) has raised its growth forecast for the UAE for both 2024 and 2025 in light of these developments.
