Business management ‘top job skill favored by Saudi recruiters’

Updated 18 February 2013
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Business management ‘top job skill favored by Saudi recruiters’

Employers in the Kingdom consider an educational background in business management to be most important for new recruits, followed by commerce and engineering, according to a new survey.
The Middle East and North Africa (MENA) Job Index survey was conducted by Bayt.com, claimed to be the Middle East’s number one jobsite, and YouGov, a research and consulting organization.
Employers also consider an educational background in business management to be most important for new hires, followed by commerce and engineering.
They also consider good communication skills to be most important when seeking a new employee, followed by the ability to be a cooperative, helpful and flexible team player and good leadership skills.
Companies will look to hire candidates who have experience in team management, sales and marketing, and computers. 
Respondents believe that the industries that attract and retain the top talent in Saudi Arabia are construction, telecommunications, and banking and finance. 
The survey shows 30 percent of MENA employers are ‘definitely hiring,’ in the next 3 months. An additional 27 percent said they are ‘probably hiring’ — an increase of 2 percent in both instances in comparison to results gathered in Q3 2012. 
In Saudi Arabia, the poll says 38 percent of the companies are ‘definitely hiring’ in the next three months (compared to 35 percent in Q3 of 2012), with 30 percent stating that they are ‘probably’ hiring.
In a year’s time, 74 percent of companies are expecting to hire new employees. 
Data for the Bayt.com Job Index January 2013 survey was collected online from Dec. 21, 2012 to Jan. 31, 2013.
Results are reported on a base of 4,349 respondents, according to a statement.
Countries that participated are Saudi Arabia, the UAE, Kuwait, Oman, Qatar, Bahrain, Lebanon, Syria, Jordan, Egypt, Morocco, Algeria, Tunisia and Pakistan.
“The clear improvement in the number of jobs to be available in the coming three and 12 months is a positive sign for the Kingdom’s economy,” said Suhail Masri, VP of sales, Bayt.com.
"We have seen a regional increase in terms of the numbers of employment opportunities, and this is a good indicator of the region’s growth and development," he said.
“At Bayt.com, we specialize in gathering the information that matters most to employers and employees across the region as we aim to empower jobseekers and employers alike by giving them the tools to find their dream job and top talent respectively.” 
The majority of companies in Saudi Arabia (68 percent) are expecting to hire up to 10 employees in the coming three months — 1 percent lower than the regional prospects of 69 percent.
Across the MENA, multinational private sector companies will be hiring the highest number of new employees in the next three months, and will continue to be the biggest source of employment in a year’s time.
Within the next three months, they are looking to hire predominantly at junior executive level, followed by executives and coordinators.
Sundip Chahal, CEO, YouGov, commented: "A high number of lower-tier jobs is good news for new graduates. This provides a more open field at entry-level, which will give first-time jobseekers more opportunities to find employment in the industries that they wish."
Regionally, the most desirable qualifications for candidates are in business management, commerce, engineering, and computer science. Good communication skills in English and Arabic are most desirable by employers, though being a cooperative, helpful and flexible team player is also considered highly. In terms of experience, most highly regarded is the ability to manage a team, followed by computer skills, and sales and marketing. 
Four out of 10 respondents (38 percent) state that their current country of residence is more attractive than others in the Middle East, with the UAE topping the list of the most attractive countries in the region, followed by Qatar and Saudi Arabia. 
Similarly, 43 percent believe that the industry they are currently working in is more attractive as a potential employer, in comparison to others. Banking and finance, and telecommunications (33 percent each) are considered to be the industries that are attracting and retaining the top talent in the respondents’ countries, followed by construction (32 percent) and oil, gas and petrochemicals (27 percent).  


Wealthy Gulf individuals feel more confident about regional prospects

Updated 25 April 2018
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Wealthy Gulf individuals feel more confident about regional prospects

  • “Factors like the region’s stability, attractive investment opportunities and low-tax environment are seen as the main drivers behind the growing confidence in the region’s economy.”
  • Among the most optimistic were respondents in the UAE, with 57 percent of those surveyed saying they thought the overall outlook was improving.

DUBAI: Survey finds growing optimism on region’s economies, but Saudi investors remain wary.

Wealthy individuals in the Gulf are more optimistic over the future of the region and the global economy compared with last year, and are increasing likely to invest in their own countries and other emerging markets in Asia than in western economies. These are among the main findings of an annual survey by Dubai-based Emirates Investment Bank (EIB), released on Tuesday, of the sentiment among high net worth individuals (HNWIs) in the region. 

After two years of falling confidence, some 60 percent of regional HNWIs now believe things will improve or stay the same. Fewer are pessimistic about both regional and global economic prospects than last year, while nearly 80 percent of respondents said they would prefer to invest in Gulf assets, rather than looking abroad.

The recovering oil price was a big reason for the increasing feel-good factor in the Gulf, according to Khalid Sifri, EIB’s chief executive officer, who added: “Factors like the region’s stability, attractive investment opportunities and low-tax environment are seen as the main drivers behind the growing confidence in the region’s economy.”

After falling below $30 per barrel in early 2016, oil has subsequently recovered to a three-and-a-half-year high, breaching the $75 a barrel mark yesterday for the first time since November 2014.

However, the overall optimism of the survey masks some concerns among regional HNWIs; in Saudi Arabia, 48 percent of respondents said that they saw the regional economic situation improving or staying the same, against 52 percent who felt it was likely to worsen in 2018.The survey was conducted last November and December, when investor sentiment in the Kingdom was affected by the high-profile anti-corruption campaign undertaken against some prominent business people accused of financial wrong-doing. “It may have been affected by that. We shall see what the situation is at the end of this year,” Sifri said. 

Respondents from Kuwait were even more pessimistic. None of the respondents from the country felt that things were going to improve on the investment front this year, while 54 percent said they would worsen. Among the most optimistic were respondents in the UAE, with 57 percent of those surveyed saying they thought the overall outlook was improving. On the long-term global outlook, a total of 78 percent of those surveyed across the region were optimistic about prospects over the next five years, with most citing positive economic and political stability as the reason, along with a smaller number who said oil price stabilization would benefit the world economy. The oil price recovery was the biggest reason for regional optimism. 

The geopolitics of the region was claimed as a big factor in deciding investment decisions, but Saudis were less concerned than others. Only 29 percent in the Kingdom said they were influenced by geo-political events, compared with 83 percent in Qatar and 85 percent in the UAE. 

Oil prices, economic reforms and the introduction of VAT were also factors influencing investment, as was the election of Donald Trump as president of the USA. There has been a big shift in global investor orientation outside the GCC. Nearly half of regional wealthy investors (47 percent) are now looking to Asia, 38 percent to the wider Middle East and North Africa, some 34 percent to Europe and only 17 percent to North America. The survey was conducted among 100 HNWIs with $2 million or more in investable assets.