12.9 per cent western expatriates lost their jobs this year, in comparison to 9.9 per cent Indian workers who were laid off
12.9 per cent western expatriates lost their jobs this year, in comparison to 9.9 per cent Indian workers who were laid off
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First, the bad news. According to a report released by the Gulf recruitment portal
on Wednesday, salary hikes in the Gulf decreased to 6.2 per cent in 2009 from 11.4 per cent in 2008. However, more Indian workers in the Gulf have been able to keep their jobs compared to their American counterparts, says the Employment and Salary Trends in the Gulf 2009u00a0- 2010 report . The study covered Saudi Arabia, Kuwait, Qatar, Bahrain, Oman apart from the UAE.
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Paras Shahdadpuri, president of the Indian Business and Professional Council in Dubai |
Not a surprise
Hitesh Oberoi, COO, Infoedge India Ltd (parent company of naukri.com), said, "Dubai's economy is largely dependent on real estate, it's unsurprising that it would have the highest redundancy rates." He added that India stood to gain. "While working abroad will seem attractive for blue collar workers and junior white collar aspirants, the real deal is right here in India. We've seen many from the Gulf who want to return to attractive opportunities here," said Oberoi.
Paras Shahdadpuri, chairman of the Nikai group and president of the Indian Business and Professional Council in Dubai said, "Companies here did not panic the way the ones abroad did. We had expected a real estate correction in 2009. Coupled with last year's economic crisis, it's been double trouble but Dubai will continue to attract investors."
| What the report said |
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UAE and Kuwait were the worst affected with pay rise falling to 5.5 per cent and 4.8 per cent respectively in 2009. The average expected pay rise in 2010 is 6.3 per cent. Almost two-thirds of professionals did not get raises this year |
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