Dubai: The Next Career Destination For Expats In 2024

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Dubai: The Next Career Destination For Expats In 2024

For expats accustomed to relocating in pursuit of career opportunities, Dubai is emerging as an attractive destination in 2024. With a robust economy, declining unemployment rates, and increasing wages, the United Arab Emirates (UAE) presents a promising talent market and salary growth outlook. In this article, our friends at Pacific Prime Dubai will discuss why Dubai in 2024 is like a magnet to top talents from all corners of the world.

Plentiful Opportunities in Dubai in 2024

Dubai’s job market is expected to witness a significant increase in employment opportunities. With a projected GDP growth of over 3% in 2024, the non-oil sectors, including technology, telecom, and real estate, stand out as key drivers of this expansion. These industries have experienced massive investments and project planning, resulting in a high demand for competent workers.

One notable achievement of the UAE is the decline in unemployment rates. The introduction of unemployment insurance in January 2023 played a crucial role in reducing the unemployment rate from 4.3% in 2022 to 3.3% in 2023. The working population in Dubai is more engaged and active, and individuals are gaining greater confidence in job security, financial stability, and social welfare.

As the UAE’s economy continues to thrive, the growth in demand for skilled professionals across various industries has followed suit. Employers are actively seeking individuals with specialized expertise and qualifications to support their expansion plans and drive innovation within their organizations.

Job seekers possessing in-demand skills, such as digital proficiency, technical expertise, and industry-specific knowledge, can expect a favorable market with numerous opportunities. Sectors particularly seeking skilled professionals include:

Technology
Engineering
Finance
Healthcare
Hospitality

The Hiring Outlook for 2024

According to a survey by Cooper Fitch, more than half (56%) of the respondents intend to hire more staff in the coming year (although 20% of companies are planning to reduce their headcount). The UAE’s economy is projected to grow by 3% in 2024, driven by sectors including real estate and technology.

Employers in Dubai Compete for Talents in 2024

In addition to traditional compensation, employees and job seekers can expect a range of benefits in the UAE job market in 2024. Employers are focusing on employee well-being, work-life balance, and professional development. Negotiations around benefits have expanded to include the following:

Family benefits
Dental insurance
School allowances
Work flexibility
Remote working
Company incentives

Performance-based and one-off bonuses, vouchers, and additional time off are also part of the package. Companies are emphasizing a positive work culture and fostering a sense of inclusion among employees through company incentives and perks.

Salaries in the UAE are projected to increase in 2024, particularly in non-oil sectors where substantial growth is expected. Competitive compensation packages are being offered to attract and retain skilled professionals. Salaries are estimated to grow by approximately 4.5%, reflecting the value placed on skilled individuals in the UAE job market.

Contact Pacific Prime Dubai Today!

Making the right choice for your career will result in increased job satisfaction, career advancement, higher income and wealth accumulation. But to protect the most important asset of all–our health, we not only need to eat healthy and follow a suitable exercise routine, but we also need a good health insurance plan.

With 20+ years of experience in the insurance industry, Pacific Prime Dubai can surely help you find the right plan with the best value for money. Even better, you don’t have to pay extra to benefit from their impartial advice and comprehensive support.

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Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.