Overview of UAE

Based on its nominal GDP (Gross Domestic Product) in the year 2020, the United Arab Emirates proudly stands as the 29th most influential economic force globally. It holds the esteemed position of being the second-largest economic powerhouse in the Arab world and maintains its status as a high-income country. The services sector takes the lead in this economic landscape, commanding an impressive 49.2% share, followed by the industrial sector at 15%, and the agriculture sector trailing behind. Notably, a substantial 78% of the country’s labor force actively contributes to the dynamic services industry.

A closer examination of key data underscores the economic prowess of the UAE. In the fiscal year 2020, the country boasts a population of 9.99 million and an astonishing GDP of $421.142 billion USD.

Looking ahead to the economic forecast, the International Monetary Fund (IMF) anticipates a steady and positive trajectory for the UAE. A significant 3.6% increase in GDP is projected, driven by enhanced domestic activities. Particularly noteworthy is the continuation of the upward trend in 2023 after an exceptional GDP growth rate of 7.9% in 2022.

Examining market dynamics, the services sector remains dominant, holding a substantial share in the UAE’s economic landscape, with a majority of the workforce actively contributing to its vitality. While the oil and petroleum industry continue to serve as a cornerstone, providing a solid anchor for the economy, a diverse array of industries such as tourism, aviation, real estate, education, sports, manufacturing, banking, and external trade collectively contribute to shaping the intricate tapestry of the UAE’s multifaceted economic strength.

A brief glimpse of the industries

The foundation of the UAE’s economic prosperity is firmly established through the robust contributions of the oil and petroleum industry. Situated in the oil-rich territories of Abu Dhabi and Dubai, these regions collectively yield an impressive daily production of around 2.9 billion barrels. More than just a source of domestic energy, the export of oil stands as a crucial pillar of the country’s revenue, creating numerous employment opportunities for individuals aspiring to make a mark in this pivotal sector.

Moving beyond the fossil fuel sector, tourism emerges as another fundamental element in the UAE’s economic panorama. The nation showcases an array of luxurious hotels, providing the backdrop for an immersive and lavish tourist experience. Dubai’s skyline is adorned with iconic landmarks like the Burj Khalifa, the world’s tallest building, making it a global magnet for tourists. The allure extends to contemporary attractions and expansive shopping malls, collectively captivating visitors. For those exploring career paths, the tourism sector unfolds a multitude of opportunities, especially in the vibrant cityscape of Dubai, a perennial favorite among global travelers.

Running parallel to these economic narratives is the manufacturing sector, a diversified powerhouse that produces a range of goods including fertilizers, cement, aluminum, handicrafts, and textiles. Beyond catering to domestic demands, the export of these goods significantly enhances the nation’s economic fabric. Enthusiastic and skilled job seekers discover ample opportunities within the dynamic realms of the manufacturing sector, contributing to the nation’s industrial vitality and global trade presence.

Cost of Living in UAE

The United Arab Emirates is one of the most sought-after holiday destinations because of its shopping malls and hotel business. Because of the high standard of living offered, living in the country is expensive. The cost of living may vary depending on the city. Dubai is the most expensive city for foreigners to live in. The table below displays the average cost of living in the United Arab Emirates in 2023.

Category	Area of expense	Cost estimated
Utilities	Heating, Gas, Electricity, Cooling, Water, Garbage, and Internet (60 Mbps or more)	US $ 264
Apartment rents	Monthly rent 1-bedroom apartment in City Centre Monthly rent 3-bedroom apartment in the City Centre	US $ 1,228 US $ 2,288
Travel cost	Gas, one-way ticket, monthly pass of public transport	US $ 7
Food	Fruit, Vegetable, Meat, Dairy, Drinks, and Poultry, Food at Restaurants	US $ 40
Salaries and Financing	Average monthly net salary	US $ 2,765

Cost of Renting

The location of the home, its size, and other elements can all affect the cost of renting in the United Arab Emirates. As the facilities grow, so will the price. The rent for a one-bedroom apartment is about $1,228; the rent for a three-bedroom apartment is about $2,288.

Cost of living depending upon your location

Mentioned below is the average cost of living across the leading cities of UAE: –

Cities	(Cost of living) US $
Abu Dhabi	US $2,230
Dubai	US $2,565
Ajman	US $2,750

The top sectors that are expected to hire in 2021 in UAE are:

S. No.	Top Industries Looking to Hire
1.	Manufacturing
2.	Banking
3.	Petroleum
4.	Telecommunications
5.	Science and Technology
6.	Real Estate
7.	Construction
8.	Tourism

Top skills required in UAE

A diverse array of individuals with a broad spectrum of skills is attracted to the United Arab Emirates, a country that presents a multitude of possibilities across its dynamic landscape. With a thriving service industry, the nation presents a wide array of job opportunities for qualified candidates. Whether someone is a seasoned e-commerce expert or an engineer with advanced technical skills, the UAE provides a variety of career options awaiting skilled professionals.

In-Demand Key Skills:

• E-Commerce
• Healthcare
• Business
• Digital Marketing
• Creative
• Human Resource
• Science & Technology

These sought-after skills align with the dynamic requirements of the evolving UAE economy, spanning various sectors and industries. From the digital realm of e-commerce to the precision of healthcare, the range of opportunities is extensive, offering a promising landscape for skilled professionals.

Exploring the cityscape of the Emirates unveils distinctive economic hubs, each with its predominant sector and unique charm. In Dubai, the cosmopolitan hub of the nation, the economy revolves around tourism, aviation, real estate, trade, and financial services. Job seekers focusing on Dubai can anticipate an average annual salary of US $70,238, reflecting the city’s robust economic activity.

Shifting to Abu Dhabi, the second-most populous city, commerce and culture take center stage. Industries such as tourism, aviation, petroleum, and education drive the city’s economic engine, offering an average annual salary of US $68,604.

Meanwhile, Sharjah, the third most populous city, emerges as a hub of industry and culture. Key sectors include education, aviation, culture, healthcare, and sports, with job seekers in Sharjah enjoying an average annual salary of US $66,700.

For ambitious job seekers seeking international opportunities, the United Arab Emirates presents itself as an enticing destination, with its cities offering unique prospects and a rich tapestry of economic activity.

Hiring Cost

In the UAE, hiring new employees is a time-consuming, expensive, and exhausting procedure. The cost of the hiring process depends on a number of factors, including:

• The interview process’s cost and time commitment
• Cost of the onboarding procedure
• The price of the training procedure

Salaries in UAE

The variety of job profiles available in UAE, along with the expected average salaries, are mentioned below: –

Jobs	Salary (US $)
Chemical Engineer	US $44,430
Product Manager	US $46,010
Operations Manager	US $51,454
Accountant	US $62,714
Data Scientist	US $49,269
Civil Engineer	US $54,450
Mechanical Engineer	US $75,600
IT Manager	US $56,017
Industrial Designer	US $57,280
Dentist	US $95,280
Administrative Assistant	US $35,660
Graphic Designer	US $50,740
Content Marketing	US $68,333
Fashion Designer	US $37,161

Employment Laws in UAE

The employment scenario in the UAE is governed by crucial labor laws meticulously crafted to uphold the rights and welfare of employees, encompassing a wide range of fundamental benefits. These regulations address critical aspects such as maternity leave, working hours, annual leave, and various other employment-related matters, establishing a framework that prioritizes the well-being of employees.

The UAE Labor Law, serving as a cornerstone of these regulations, encompasses significant features that delineate the terms of employment and safeguard the rights of workers. Key provisions of the law include:

1. Working Hours:
   Article 65 establishes a standard of 8 working hours per day, forming the basis for a balanced and fair work schedule.

2. Leave Entitlements:
   The law meticulously outlines leave policies, covering both paid and unpaid leaves, with a focus on essential aspects like maternity leave and annual leave. These provisions underscore the importance of achieving a harmonious work-life balance and ensuring employee well-being.

3. Minimum Wages:
   Article 63 sets guidelines for minimum wages, emphasizing the commitment to providing fair compensation to the workforce.

4. Wages Protection System:
   The UAE Labor Law incorporates a robust Wages Protection System, designed to ensure prompt and transparent payment of wages. This system underscores the commitment to financial security for employees.

These features collectively strengthen the legal framework, cultivating a work environment that not only upholds the rights of employees but also fosters fairness and equality. The UAE’s dedication to enforcing these labor laws reflects a commitment to creating a workplace where employees are not only protected but also empowered to thrive in a balanced and supportive professional setting.

The United Arab Emirates has made a robust recovery from the challenges posed by the COVID-19 pandemic, propelled by the government’s judicious fiscal and monetary policies. Remarkably, this recovery has not only surpassed pre-pandemic levels but has also ushered in a surge of heightened commercial activity, leading to a significant uptick in hiring across various industries.

A distinctive facet of this rapidly expanding job market is the escalating demand for positions in the technology sector, underscoring the pivotal role technology plays in today’s workforce. The following are some of the most sought-after remote jobs:

1. Software Engineers and Developers
2. UI/UX Designers
3. Graphic Designers
4. Product Managers
5. Front-end and Full-stack Developers
6. IT Project Managers

This upswing in technology-related roles reflects the pervasive digital transformation reshaping industries, emphasizing the necessity for skilled professionals to navigate the evolving technological landscape.

Beyond the tech sphere, other job sectors have experienced significant demand in the year 2022. Noteworthy sectors witnessing increased hiring activity include:

• Cybersecurity
• Banking
• Consulting
• Sales and Marketing
• Legal

These sectors showcase a diversified employment landscape, offering opportunities across various domains of expertise.

In this dynamic environment, certain companies stand out as trailblazers in recruitment efforts within the UAE. The top five companies leading this surge in hiring are:

1. Parsons
2. Honeywell
3. Management Solutions International
4. Manpower Group
5. TASC Outsourcing

These organizations, with their strategic recruitment initiatives, not only contribute to the economic revival but also serve as stalwarts of stability in the evolving employment landscape of the United Arab Emirates.

How Can EOR Services Help You with Hiring in the UAE?

There are a lot of regulations and procedures to follow in order to hire the best talent in the UAE. You will need to invest a significant amount of time and energy in the hiring process. However, with EOR Services’ one-click, all-in-one employment solution, you can now ease into a smooth recruitment process. Contact EOR Services for further details.