Doing business in Dubai: Trends and developments to keep an eye on

Posting date: 09 May 2019

Doing business in Dubai: Trends and developments to keep an eye on

Dubai has become an increasingly desirable location in which to live and work, with a competitive and diverse business landscape. New developments announced by the government look set to continue the emirate’s upward trajectory as a fully-fledged global business capital, and at Swisslinx we’re excited to continue expanding in this part of the world. With exciting developments in tech entrepreneurship, oil and gas movements and a booming finance sector, there’s plenty to keep an eye on. Here are some of our highlights:


A growing market

As the biggest re-exporting centre in the Middle East, Dubai’s economy has become more dynamic and diversified in recent years, with international trade growing at an average of more than 11% each year since 1998. The emirate also recorded 41% year-on-year growth in foreign direct investment in 2018, creating around 25,000 new jobs and reflecting investors’ optimism in the future of the local economy. As the leading hub for finance and transportation in the Gulf Cooperation Council, Dubai is also ranked in the first quartile for business activity, human capital, information exchange and cultural exchange. It hosts the headquarters for most major international corporations based in the GCC and is an international tourism destination, with entrepreneurship and private investments beginning to emerge to shape a culture of innovation. Alongside that, the UAE has reached the 11th rank in the World Bank’s Ease of Doing Business list for 2019 thanks to its modern infrastructure, supportive legislature and access to networking opportunities.

Put simply, the Dubai business market is expanding in many different directions, making it an exciting time to be doing business in this part of the world.


The emergence of tech entrepreneurship

Early-stage start-ups make up nearly half of all companies registered in Dubai, according to Dubai Statistics Sector, with accelerators and incubators emerging at pace. The UAE sees high levels of commitment from the government and independent programmes to support the tech ecosystem, with Dubai Future Foundation and Dubai Future Accelerators supporting growth in innovation. Alongside incubators are initiatives such as the STEP Conference and GITEX Technology week, providing entrepreneurs and start-ups with the ability to showcase their work and engage with investors.


Banking and finance gain steam

The financial services market has long been a key pillar of Dubai’s economy, and this shows no sign of abating. So far this year we’ve seen the launch of a project aimed at providing 1,500 banking and finance jobs to Emirati citizens within 100 days and plans to triple the size of Dubai’s financial district (DIFC). This expansion is part of a move to cement Dubai’s position as an economic and commercial hub for the region, adding 13 million square feet to the existing Dubai International Financial Center. The DIFC investment hub is already high-performing, reporting its best-ever year for new company registrations in 2018 with a total of 437 new registrations. This saw an 11% rise in net profits for the year, taking the number of registered financial companies to 625.

Transformation is ongoing within the UAE banking sector, with banks operating with high capital and a positive outlook for the sector both now and into the future.


Oil and gas continues to recover

As a major oil and gas hub globally, it’s no surprise that the UAE’s presence in this sector remains strong. After a well-documented price slump in late 2014 the market has recently shown continued stability with the current brent crude price averaging USD $67 - $71. The sector has seen a recent increase in exploration investment, demonstrating a renewed confidence in the market. The GCC has USD $835bn worth of active oil and gas construction projects underway currently.

Development of the region’s major players is ongoing. Aramco has announced an expansion into international oil and gas exploration, likely putting them in direct competition with Exxon Mobil and Royal Dutch Shell, while ADNOC is actively seeking venture partners for its 2030 growth strategy. Such large-scale projects and ongoing investment in oil and gas suggests a burgeoning employment space for both local and international candidates.


How Swisslinx can help you

Established in 2007, our Dubai office has a focus on the Banking & Finance, Technology and Oil & Gas sectors in the Middle East and North Africa. Based in the DIFC, we have access to the huge number of opportunities available to clients and candidates here, keeping ahead of updated and trends within this part of the market.

Our multilingual team of specialists are considered experts in their respective markets and have experience in recruiting for all levels of seniority up to and including C-Suite and Board Level.

Our consultants have access to the most up-to-date information regarding the market and offer the best local advice possible to our candidates and clients. Get in touch with our Dubai office or view our latest jobs in Dubai and the UAE.

In a post-pandemic world, which jobs will continue to thrive?

The impact of the COVID-19 pandemic on economies and corporations has been dramatic, to say the least. Countries around the world have been forced to grapple with enormous change and adjust to the new normal of remote working, and the increasing use of digital technology. As we move into the post-pandemic world, professionals will have to be more self-reliant and flexible – and seek out the most in-demand roles to future proof their careers. Before the outbreak, the job market was still highly competitive and ever-evolving, but with the pandemic disrupting the landscape, certain roles will grow faster than others. Therefore, it’s time to take a look at the jobs with the highest demand, to help talent leaders and candidates make better decisions post-pandemic.   Cybersecurity roles   Cybersecurity is one of the most in-demand roles in technology. Over the years, cybersecurity job postings have increased dramatically and with the pandemic forcing many companies to adopt a remote working culture, this has posed new security challenges. Research has shown that the number of cyber-attacks in Switzerland during the height of the pandemic was up three times more than normal. Since there are more people now working from home, there’s more data available in the cloud, which means many companies are more vulnerable to attacks. In early 2021, many security bodies in Switzerland were targeted by malicious email that appeared to come from trusted organisations, like the police and banks, further exemplifying that cybersecurity risks have become a huge problem. Therefore, cybersecurity experts will be hugely in-demand and these professionals can look forward to many opportunities in the field.   Data analysts and scientists    Research has shown that by 2025, 97 million new roles will emerge, most of which will be driven by automation and data. In a post-pandemic world, there’s no doubt that businesses will continue to rely on advanced technology to understand the origin of different data sets. This means that data analysts will be highly sought after over the next few years. With more people working remotely and with more technology-based roles on the horizon, the amount of data generated is only going to increase. All of this data needs to be managed and analysed to understand correlations, and to draw meaningful conclusions. Big data is everywhere now and the pandemic has accelerated this shift toward machine learning and smart communication.   Software developers   It’s no secret that Switzerland’s technology scene has become one of the most advanced in Europe, with Zurich standing up as a powerhouse for the country’s digital technology. There’s a great demand for software developers with growing numbers in Switzerland, and research has shown that there was over 155,700 registered software developers in 2019, a figure which has likely grown since. Companies will increasingly need software developers to build the digital infrastructure for their projects in the post-pandemic world. Also, artificial intelligence investment increased during the pandemic, with more companies implementing AI into their products and processes. This means that businesses will need developers with AI skills and experience. And with more people spending time online, the role of developers has become even more crucial for a wide range of businesses.   Why not contact our friendly team of recruitment specialists?   There’s a wide variety of roles set to thrive in the post-pandemic world, but what remains clear is that these jobs will be digital and technology-focused. At Swisslinx, we’re committed to keeping pace with all the changes within the digital and technology markets. Our team of recruitment specialists have years’ of experience in recruiting top candidates, and we’ve built excellent relationships as a result. Whether you’re looking to recruit or are seeking new roles in Switzerland, contact us today to speak to a member of the team. We’re always happy to help. <!--[if !supportLineBreakNewLine]--> <!--[endif]-->

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How to strengthen your personal brand

Personal branding is everywhere in today’s digital age. With the rise of influencers on social media platforms, personal branding has become an industry in itself – and it’s now a vital part of an employee’s journey as they build their career. The concept of the personal brand is well established in the business world. A personal brand lays the foundation for success in the future, so it’s important to start building your public persona early.   Since there’s now so much competition in this changing workplace landscape, it’s never been more important to build a strong personal brand that enables you to stand out uniquely from other professionals. Research has shown that employers frequently screen candidates through social media. Therefore, how you present yourself online is now crucial for securing job opportunities. But how do you brand yourself online and build credibility? Here are some keys ways that professionals can improve their digital footprint and build a strong personal brand.    Create an engaging social media presence    With the growth of LinkedIn, blogging, and other social media networks, it’s never been easier to create a compelling social media presence. One of the best ways to impress employers and strengthen your personal brand is by adding as much detail as possible to your LinkedIn profile. This includes showcasing your endorsed skills, an interesting headline and a creative description that discusses your accomplishments and any recommendations. It’s important to make sure your social networks tell a cohesive story, which can help to establish yourself as a positive, friendly professional, boosting your personal brand as a result.   Be consistent in your communications   When it comes to building and strengthening your personal brand, it’s important to know that results won’t happen immediately. It’s a lifelong commitment that requires patience. However, without consistency in your communications, it’s very difficult to make any progress. For example, all your social media channels need to have the same tone of voice and communicate the same message. Even the smallest of inconsistencies can have an impact on personal brand effectiveness. It can be difficult to think of yourself as a brand, but personal branding is all about consistently reinforcing your story, whether that’s through written content or video. Your CV says a lot about your experience, but when you’re consistently publishing original content, it demonstrates to employers that you’re self-motivated and passionate about your career.   Find a niche and make it your own   It’s much easier to be consistent with your messaging when you have a focus. One of the best ways to strengthen your personal brand is by showing that you’re well versed in a single topic. For example, if you’re looking to move into the financial services sector, keep your messaging focused on that target demographic, as it will be much easier for others to define your personal brand. Having a niche focus is important because it allows you to build your brand around your desired market or ideal employer. Narrowing the focus around your personal brand makes you more easily identifiable and can lead to more specific job opportunities.    Network effectively   Networking is hugely important in building and maintaining your personal brand. So, make sure you engage with people online and offline and cultivate these relationships over time. There is a multitude of ways to connect with people, like joining groups and conversations on social media. While networking through LinkedIn is key, take the time to attend networking events and virtual conferences to meet valuable, relevant people who can help with your career. All of these relationships contribute to the development of your personal brand, because the more you engage, the more you grow.   Are you looking for the next step in your career?   Building a strong personal brand is hugely important for your career growth. Always invest time in engaging with new relationships, conferences and projects that you could showcase, as a part of your brand. The idea of a brand no longer just applies to companies. At Swisslinx, we’re passionate about career development and helping candidates secure their ideal role. We constantly add value to our clients and candidates and are dedicated to building positive relationships with those we work with. Our team of specialist consultants recruit for roles in various markets, including financial services, digital and technology, as well as health and life sciences. If you’re seeking a new role, contact our team today to discuss how we can help.

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