Abu Dhabi Market Update
Abu Dhabi is going through a business growth phase and the economy appears to be going from strength to strength. The economy is expected to grow by 2 percent this year and expand by an average of 2.5 percent until 2022, supported by higher oil production and continued spending by the government that will boost non-oil economic growth.
The Abu Dhabi government confirmed a three-year AED 50 billion stimulus package, to spur economic growth, encourage foreign investment and improve the business environment in the emirate. The government's move followed other steps taken to bolster the country's attractiveness to foreigners such as 100 percent foreign ownership for expatriates in certain sectors including real estate and reducing the costs of business licenses.
As a result, Abu Dhabi has become an attractive city for investment, business activity and expats moving to the region.
Emiratisation initiatives have also been set out by the Government as part of the 2021 Vision. This includes the creation of 20,000 new jobs for UAE nationals over the next 3 years and an AED 300million fund to train 18,000 UAE national jobseekers.
In summary, Abu Dhabi is not only a desirable place to live for UAE nationals and expats, but it has a positive hiring outlook across all sectors including legal, HR, finance, technology and banking.
If you have any upcoming recruitment projects or hiring needs in Abu Dhabi, please don’t hesitate to reach out to Jonathan Berry, Head of Abu Dhabi directly at +971 52 692 7937 or email at Jonathan.Berry@robertwalters.com