At present two thirds of the Middle Eastern population are younger than thirty and this makes it the youngest population in the world so in the coming years there will be large numbers of people entering the Middle Eastern jobs market. It is predicted that there will need to be 100 million new jobs created in the next decade to keep up with the growing population and help maintain the living standards at the same level as they are now.
The short term outlook appears to be more positive, according to the “Arabia50/500 Leading Indicators” report published by AllWorld Network, which revealed that most Arab companies performed well in 2009 despite the dismal global economic downturn. The report, which surveyed the top 50 companies and top 500 entrepreneurs in the region, showed that growth in the Middle East will pick up pace in the coming months and will lead to increased job creation for the region.
The majority of companies showed growth last year and it is predicted that 95% of companies will experience growth over the next six months and many are predicting sales growth figures as high as 50%. Employment in the Middle East has increased by 50% in the last four years and it is now expected that this figure will increase significantly again during 2010.
While the increase in private sector employment in the region has been slow there are now some indicators that job creation within the region is starting to gain more momentum. At present 75% of business owners in the Middle East are hoping to launch a second enterprise and 50% of these entrepreneurs also hope to bring in outside investment. New incentives such as profit sharing for managers and employees along with more on the job training are now starting to become the norm in the region.Paul Holdsworth, Staff Writer, Gulf Jobs Market News