DUBAI - Over half of MENA companies are planning to recruit in the next three months as the region emerges from the economic downturn, a new report Sunday found.Some 52% of companies in the Middle East and North Africa, or MENA, are planning to hire in the next three months, with 26% definitely recruiting and 26% probably hiring, according a study by market research group YouGov and Middle East jobs Web site Bayt.com.
In the United Arab Emirates, a quarter of respondents said they would be employing in the next few months, while 23% were likely to take on more staff.
Out of the 14 countries surveyed, companies in Oman and Saudi Arabia had the most positive outlook on recruiting, with 34% and 31% respondents respectively saying they would be hiring in the next quarter.
Amid the fallout of global financial crisis last year there were widespread job losses, particularly in the U.A.E. Thousands of expatriates in mainly real estate and financial services were laid off as fears grew about an exodus of skilled workers from the U.A.E.
Emaar and Nakheel, Dubai's two property behemoths, have been tightlipped about redundancies but are widely thought to have made cuts, while Egyptian investment bank EFG-Hermes predicted earlier in the year that Dubai's population would contract by 17% in 2009.
Last month, Deyaar Development PJSC (DEYAAR.DFM), Dubai's second-largest developer, laid off around 60 people, or 20% of its workforce. Dubai World has cut its global workforce by 15% to just under 70,000, and its U.A.E. workforce 25%. Now, however, there are signs this trend is reversing.
"As many regional companies struggled to stop spiraling costs during the recession, many people caught in the crossfire lost their jobs, said Joanna Longworth, chief marketing officer at YouGov Siraj, a Middle East subsidiary of YouGov in the UK. "It follows now, as business picks up, that companies find themselves short-staffed and in need to recruit. This is another indication that the economic situation is improving," she added.
Some 55% of firms in Qatar said they would or might hire next quarter compared to 53% for Kuwait and 47% in Bahrain. By contrast, firms in Morocco were the most negative with 41% saying they had no plans to hire in the next three months.
The study was conducted to identify employment trends and job availability among MENA companies.