Gulf region's and beyond's employment future In the next five years,
23 percent of jobs are anticipated to change. Gulf region's and beyond's employment future Idea of jobs of the future Global supply chains, as well as the nations at their core, are at a turning point in a world that is changing quickly as they deal with rising geopolitical unpredictability, economic instability, and high inflation and commodity prices. The Fourth Industrial Revolution, changing consumer and worker expectations, and the pressing need for a more sustainable economy are all contributing to significant changes in the labor market and driving up demand for new jobs and skills at the same time. Approximately 23% of employment worldwide are anticipated to change over the next five years.global supply chains changing
Global supply chains are becoming more unstable and volatile as a result of geopolitical tensions. Saudi Arabia and the United Arab Emirates are two of the top 10 nations anticipating economic change as a result of supply shortages and associated rising input costs. Compared to 69 percent internationally, almost 80 and 85 percent of respondents in the two countries, respectively, expect these pressures to drive company transformation and a net 25 and 10 percent expect these trends to entail employment loss.
Nevertheless, the restructuring of international supply chains may offer a chance. With 77 percent of respondents anticipating this to be the case, the UAE tops the global rankings of nations that expect the localization of supply chains to drive business change.
As new technologies advance
The development of new technology may be the most significant cause behind changing the workforce. Technological advancements are predicted to cause structural change in the labor market, with a quarter of businesses worldwide anticipating job losses and more than half anticipating job gains. While predictions of robots taking over physical professions have slowed, tasks requiring abilities that humans have an advantage in, including logic, communication, and coordination, suddenly appear to be more automatable given the development of artificial intelligence. Interpersonal skills and lifelong learning will be even more crucial in the future.
Several Gulf Cooperation Council countries are positioned themselves to take advantage of the possibilities of AI and big data in this quickly changing environment. Adapting talents to a world that is changing
It will be crucial for people to develop new abilities in order to negotiate the changing employment market in this quickly changing global economy. We discovered that over half of a person's skills will need to alter globally during the next few years.
By making today's investments in thorough re skilling or up skilling programs, employees will not only be given the skills necessary for new employment prospects, but these nations will also be able to thrive in the sustainable and diverse economies of tomorrow.
Our research reveals that GCC nations, including the UAE (74%), Saudi Arabia (68%) and Bahrain (66%) rank local labor market skills gaps as the greatest obstacle to industry transformation, much higher than the worldwide average. New opportunities will also be opened up by investments in the green transition and growing consumer interest in sustainability. Businesses anticipate a significant demand for professionals in the fields of renewable energy, sustainability, and environmental protection. As an example, consider Saudi Arabia, the second-largest oil producer in the world. Investments to support the green transition are anticipated to result in an increase in jobs in the Kingdom, with a net 65 percent of enterprises anticipating this to be the case. A wider application of ESG principles in the UAE is anticipated to result in job growth, with a net 52% of enterprises anticipating this.
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