The World’s Expo2020 will increase the competition in the local job market, though there’s a massive number of employees will benefit from salary increases up to 25 percent, according to an industry expert.
Any increase in job demand will also likely to be met with the addition of more opportunities in other growing sectors. Although the event may trigger an arrival of jobseekers into Dubai, only those with the necessary work visa can stay in the country permanently.
Considered the third largest in the world after the Olympics and the World Cup, Dubai’s status as an expatriate is expected to further elevate. The World Expo is expected to create 220,000 jobs, but the UAE population, which stood at 9.2 million as of last year, is already forecast to reach 12.2 million in 2018. With thousands of jobs forecast to be created, more people will want to come to Dubai for work and jobseekers may be in for a tough ride ahead.
The jobs needed for the expo, massive competition from both global and local resourcing companies to put in place. “In turn, recruiters and headhunters from all over the world will start casting an eye on the region as top jobs and associated salaries hit the construction, hospitality and financial sectors,” he added.
. “Salary raises will mainly impact mid- and senior-level employees with relevant experience,” according to the HR consultant. The expected pay increases will benefit the real estate and banking industries, construction/infrastructure, but it will not be across the board.
“We wouldn’t expect to see any substantial salary increase in the near future,” he said. “The announcement has just been made. It takes time for it to trickle down to hiring, getting new budgets, hiring plans and company expansion plans,” as he ended.