The UAE leads the GCC in job opportunities, experiencing an 8% growth in employment in the third quarter, closely followed by Saudi Arabia at 7%, as reported in Cooper Fitch’s latest Gulf employment market study.
Recruiters project this hiring trend to continue into 2025, fueled by robust performance across both oil and non-oil sectors. The GCC overall saw a 6.5% rise in job creation during the third quarter, reflecting positive job growth as the region enters the final quarter of 2024, according to the recruitment agency. “Overall, hiring activity is gathering momentum after a challenging start to the year, with expectations for this trend to persist into early next year,” Cooper Fitch analysts noted.
Qatar recorded a 3% increase in job creation, while Kuwait, Bahrain, and Oman saw declines.
“The GCC rebounded strongly in the third quarter following a slower second quarter,” Cooper Fitch stated in the Gulf Employment Index. “The jobs market shows promise, with a 6.5% rise in new jobs compared to the same period in 2023, contributing to a projected 5% growth for the remainder of the year.”
Key Hiring Sectors
Most job growth in the Gulf region was in strategy, banking, real estate, legal, investment, data and AI, software development, supply chain, and other sectors.
The UAE and other GCC economies have seen exceptional growth post-pandemic, driven by high oil prices and expansion in non-oil sectors. Industries like travel, tourism, real estate, aviation, banking, finance, retail, and logistics have significantly expanded over the past three years, creating numerous job opportunities. Additionally, new companies have entered the market, further boosting employment prospects.
This economic boom has spurred significant population growth in Abu Dhabi and Dubai, as professionals and investors alike relocate to the UAE to take advantage of the thriving economy. The International Monetary Fund (IMF) has subsequently raised its growth forecasts for the UAE for 2024 and 2025.
In particular, strategy consulting saw a 14% rise in new job opportunities, especially within the technology, media, telecommunications (TMT), transportation, energy, and retail sectors. Meanwhile, the real estate sector saw a 9% growth in job openings, with companies implementing their 2024 hiring strategies.
