A 10% rise in job creation was reported in the UAE in Q2 this year over Q1, according to the latest report by Cooper Fitch.

There was also the largest increase in job creation among Gulf countries. Bahrain was in second place with 9% followed by Oman with 6%, Qatar with 4% and Saudi Arabia at 3%. In contrast the job market in Kuwait contracted by 2% in Q2.

Reforms introduced to attract top talent, such as the Golden Visa scheme, have been successful, as an increasing number of high-net-worth individuals have flocked to the country.

The UAE’s economy has grown at a steady pace following high oil prices, growing by a predicted 8.2% in Q1. It’s forecast that real GDP will grow 5.4% in 2022, Khaleej Times reports, due to higher oil production and a promise by the government to double the manufacturing sector by 2031.

Furthermore, the positive trend in job creation was shown in the UAE’s monthly Purchasing Managers Index (PMI).

The findings released by Cooper Fitch showed the majority of new employment is fuelled by the public sector, finance, sales and marketing and cyber security, amongst others.

It’s also forecast that thousands of jobs will be created in new-age sectors, with 40,000 just in the metaverse, the report goes on to say. In addition, opportunities for 100,000 coders will also be created in the UAE.

According to Cooper Fitch analysts, 2022 will be a positive employment year for the UAE and other Gulf nations: “We are forecasting mid-high single-digit growth across each of the Gulf countries for the year ahead.”