MANAMA, 30 September 2007 — The competition for talent is fiercer than ever in the Middle East countries with Saudi Arabia and Egypt expected to elevate their positions over the next five years in the Global Talent Index rankings, a 30-country survey conducted by executive search firm Heidrick & Struggles and the Economist Intelligence Unit showed.
Saudi Arabia will rank ninth in 2012 for the quality of its universities and business schools. The Kingdom’s relatively high disposable incomes are also a plus point, and will help raise its talent rating to 20th from 23rd place, the survey said.
Egypt will overtake Brazil and Turkey with improved foreign direct investment to move up from 11th to seventh position, it said.
“Regional economies have enjoyed significant GDP growth in recent years, but this latest global research shows there is no room for complacency. The Middle East is losing out in the battle for talent and a strategic approach is required to ensure that the region develops, attracts and retains the best people to maintain progress,” said Ayman Haddad, managing partner for MENA at Heidrick & Struggles.
According to the survey, the US will retain its position as the world’s biggest talent hot spot in 2012. But it is facing increasing pressure from China, which was expected to move to sixth position in the next five years.
India will rank tenth, the same spot it occupies now, thanks to its rapid demographic growth, the mobility of its workforce and its healthy labor market flexibility.
“FDI is important because with it comes technology imports and managerial best practice. Educational standards are equally crucial. The survey shows that it is not the size of the potential talent pool that matters but how it is nurtured. With its young and rapidly growing workforce, this is an important lesson for the Middle East,” Haddad said.
The Global Talent Index is the first survey of its kind. Countries were chosen based on a representative geographic spread and the quality of available comparative data. Egypt, Saudi Arabia and Iran were selected from the Middle Eastern region.
