Why Live and Study in Dubai in 2013
Dubai offers you fantastic career opportunities, an exceptional quality of life, and a uniquely international mix of people and cultures.
1. Trade is thriving
Last May, Dubai-based ports operator DP World announced an 18 percent increase in its profits for 2011, growing to $532 million last year from $450 million in 2010. This underlines the UAE’s growth—and particularly that of Dubai, a regional and international trade hub. Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation as well as Director-General of Dubai Customs, said that these numbers reflect the UAE’s strong and dynamic economy. “Dubai’s sophisticated modern infrastructure, the advanced services at sea and air ports together with the customs facilities available to all land, have contributed considerably to achieve such positive results in Dubai foreign trade.”
2. Property prices are firming up
According to data from the Dubai Land Department, property sales in Dubai soared 54 percent as value rose 32 percent in Q1 2012, compared with the same period last year.
3. Tourism is booming
Consolidated numbers for Q1 are not yet available, but the latest data from the Dubai Department of Tourism and Commerce Marketing shows Dubai topped the world in terms of hotel occupancy levels and average revenue per available room for January 2012. Dubai ranks above global tourism heavyweights such as Hong Kong, Sydney, London, Tokyo, Paris, Los Angeles, New York, Buenos Aires, Toronto, Madrid, Berlin, Beijing, and Rome.
4. A good year for corporates
The UAE’s listed corporates had a remarkable year in 2011 with earnings registering three-digit growth compared to the previous year, according to a study by Kuwait Financial Centre. The report shows that UAE corporate earnings surged 104 percent in 2010, after the earnings slump of 51 percent reported by corporates from 2009 to 2010.
5. Employment continues to increase
Many large companies in Dubai are looking to fill more and more new vacancies. Dubai-based Emirates Airline (the world’s largest airline) is looking to recruit 4,500 staff members this year, but demand is also strong elsewhere. Utility firm Dubai Electricity and Water Authority, real estate company Emaar Properties, aluminum manufacturer Dubal, and many more are all looking to recruit in 2012. With this rise in demand for skilled personnel comes an accompanying rise in pay packages for existing employees.
According to James Sayer, associate director at Robert Half UAE, “Our research shows that there is buoyant hiring activity through the first half of 2012 and companies are starting to realize that they need to recognize their top performers or risk losing them to other organizations.” The figures suggest that increased hiring activity means companies are increasingly concerned about keeping their best employees on board. “Companies need to ensure that they are paying competitively with an appropriate salary and bonus structure,” says Sayer.
6. So do advertising, dining—and traffic!
After a few years of wafer-thin magazines and slimline news dailies, Dubai’s print publications are once again gaining weight—and so are its inhabitants! The restaurants and cafés are full once again, brimming with customers fighting for economic resurgence with their wallets. Finally, if you’ve recently been on the Sheikh Zayed Road, Dubai’s main transport artery, you’ll know that traffic gets heavy during peak hours. Increasing activity on the road is always an excellent sign of increasing activity in the country’s economy.