UAE: Land of opportunity for the skilled

In order to further improve ranking, José Caballero, senior economist, IMD Competitiveness Centre, advised that the UAE should ensure that workforce morale remains high by reinforcing worker training programmes as well as apprenticeship schemes. Evaluating concerns about personal security and property rights and ensuring an increase in the quality of education (pupil-teacher ratios) may also be important.

Ambareen Musa, CEO and founder of Souqalmal.com, said the UAE, especially Dubai, has been put on the global map and a lot of people come for opportunities this country offers. It gives newcomers opportunities to grow in their careers as new companies keep sprouting — thanks to a brilliant startup community here. “Attractive and tax-free packages offered by companies in the UAE, safety and security for families, top-quality lifestyle and incredibly good opportunities for career growth attract talent from around the world. These are the major attractions for regional and global professionals to relocate to the UAE,” she said.

This country’s strategic location to reach Asia, Africa and Europe in the span of 6 hours also makes it an attractive destination for travellers and globetrotters, she added.

Commenting on the challenges of recruiting talent for startups, she noted that hiring is a costly affair for them. However, it is being looked into at the government level on how to help startups.

Pankaj Mundra, co-founder of Nimai Capital, said the UAE has had a diverse talent pool across sectors for a long time. The main reason is that the country has been hosting major multinational companies, including Fortune 500 companies’ regional and branch offices.

He said two sectors — startups and fintech — are mainly facing talent and skills shortages.

Caballero said the UAE dropped one position this year mainly because of the worsening of indicators related to investment in education. Although most of these indicators decline slightly, their accumulated impact is stronger.

In the pupil-teacher ratio and primary education sub-indices, the ranking dropped from 49 to 55; apprenticeships from 7 to 9; employee training from 11 to 13; and health infrastructure from 14 to 15.

In Appeal, José Caballero said it is important to note that there has been a negative turn in executive opinions in regards to worker motivation, the level of personal security and protection of private property rights. In Readiness, the prioritisation of the teaching of sciences in schools drops as well as the effectiveness of management education.

The UAE should ensure workforce morale remains high by reinforcing worker training programmes José Caballero, senior economist, IMD Competitiveness Centre