Good news for those who work in the United Arab Emirates
6 November 2018| Last updated on 22 November 2018
A recent projection is showing more than optimistic results for 2019
For those who already work and reside in the UAE, good news has hit the job and financial markets as positive results are expected to occur in 2019.
And for those who are abroad, searching for jobs in the UAE – your chances of landing your dream job may increase.
A recent market study by Mercer, a global consultancy firm, has shown that salaries in the UAE are expected to increase by 4.8% in 2019 ,– and more in the markets of life sciences, consumer good and high-tech industries.
Previously, the market of the energy industry showed the highest peak in pay during the past couple of years and hasn’t expected a decline from 4%, which is still above the market average.
Other analysts are predicting the oil and gas, engineering and manufacturing markets to attract the largest salary hikes of 3% and above in 2019.
The increase in jobs and pay raises is due to the UAE being a continuously growing market – and with a massive shift away from only oil, there have been new trends in employment in other sectors.
With a focus on technology and science and digital information across the UAE – these will eventually attract high employment opportunities and salary increases.
UAE residents are already expecting salary increase
A recent report released by Bayt.com, titled “Top Industries in the Middle East and North Africa” saw the best salary packages in the following industries:
- Aviation – 19%
- Banking and finance – 18%
- Government services – 18%
- Military and police – 15%
And when the UAE residents were questioned about their upcoming projections regarding the job market – almost 56% said they are expecting to receive a salary increase in 2019.
The UAE will be hiring more in 2019
According to the consulting firm, Mercer, the UAE will be expecting almost 50% of companies to hire more by 2019.
And those who don’t increase their headcount, 45% of the companies will not be terminating contracts either.