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Dubai was once held as the world’s moneymaking Mecca with thousands of Brits, including many IT professionals, flocking to this oasis in the desert, relishing in the absence of the tax burden back home.
So the recent economic turbulence has come as a bombshell sending shock waves around the world. Back in October the Financial Times reported that many expatriates were losing their jobs while property construction slowed to a standstill amid mounting debt and waning demand.
How does this impact Brain Drain in the UK IT industry? Are people content resting on their British laurels? And if so, how will the return of expats affect an already saturated IT job market?
The IT Job Board spoke to Vik Nanda, Team Leader of IT recruitment consultancy Pathway in Dubai to find out what’s really happening in the UAE’s most popular region.
‘In the first half of 2009 Dubai was suffering along with the rest of the world, with the number of jobs fast decreasing. This continued until July/August when things slowly started to pick up.’
So has the situation changed?
‘Now, obviously recruiters are still cautious given that we have just witnessed one of the worst recessions since records began, it would be foolish not to be. But businesses are still winning new contracts and there are projects that still need to be finished. So if companies need IT professionals they are going to have to hire. And that’s what they are doing.’
Positive news then for IT professionals considering a change. When asked what advice he would give to IT candidates considering a move to Dubai he replied,
‘I can only give my personal opinion but now seems as good a time as any. The market is still strong, there’s plenty of sun and I love it.’
Although Dubai has felt the effects of the economic crisis it could be possible that the situation has been slightly exaggerated in the media. Yet even if this is not an elaboration it seems the IT industry has not been hurt as badly as other sectors. Construction, property and even tourism industries are bearing the brunt of the recent economic unrest.
But despite the recent bailout by neighbouring Abu Dhabi, there have been plenty of positive predictions for 2010 across most industries both in Dubai and here at home. The Financial Times reported on Monday that economists are describing a very optimistic outlook for Dubai in 2010 with their financial reserves poised to help the region to continue to develop. And with the opening of the world’s tallest tower this week, re-named Burj Khalifa, following the financial rescue, it seems Dubai is keen to show the world it hasn’t lost its sparkle.
What’s your opinion on the latest economic situation? Were you considering moving abroad for work? Or perhaps you think the grass is always greener and there’s no place like home? Leave a comment or write your own IT blog.
For all the IT professionals out there quite happy staying on home ground, don’t forget to visit www.theitjobboard.co.uk to find your next IT job.















Posted on January 9, 2010 by caro
Great start to the year! We all know most of the above, but it’s reassuring to read that 2010 will be better. I have had two (UAE) job offers within the last week so can confirm – jobs are our there if one is prepared to invest the time (that’s loads) looking. Not moving now though as projects can be canned at short notice. I shall be checking the weekly updates and hope others do too.
I have also registered as a blogger and I think the subjects will be of interest to many others. So let’s discuss!!