GCC Labour Market Outlook
According to a new report by Expert Market Research titled, “GCC Labour Market Size, Share, Analysis, Report and Forecast 2024-2032″, the GCC labour market is projected to grow at a CAGR of 2.60% between 2024 and 2032. Aided by the increasing demand for labour to boost economic and industrial development and favourable labour laws in the region, the market is expected to grow significantly by 2032.
The GCC labour market plays a crucial role in driving economic growth and development in the region. The labour market encompasses a diverse range of occupations and sectors, including energy, construction, healthcare, education, and the burgeoning technology sector.
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The increasing demand for skilled workers is a significant driver of the GCC labour market growth. With the rapid evolution of technology and the shift towards knowledge-based economies, there has been a substantial demand for professionals equipped with specialised skills and qualifications. This demand is particularly pronounced in the burgeoning fields of information technology, healthcare, renewable energy, and finance, leading to a surge in opportunities for skilled professionals.
The growing trend of economic diversification in the region has further influenced the GCC labour market development. In an effort to reduce dependency on oil revenues, GCC countries have been actively promoting sectors such as tourism, manufacturing, logistics, and entertainment. This diversification has led to the creation of numerous job opportunities, thereby fuelling the growth of the labour market.
In addition to these factors, government initiatives aimed at labour market reform also play a significant role in shaping the GCC labour market growth. These include policies aimed at promoting employment among nationals, known as “nationalisation” or “Saudization” in the context of Saudi Arabia. These policies have led to a significant increase in the number of nationals in the labour market, contributing to its overall growth.
The expanding role of women in the workforce has also boosted the labour market. With increasing emphasis on gender equality and the empowerment of women, there has been a significant increase in female participation in the labour force across the GCC region. This trend is expected to continue, further propelling the GCC labour market expansion.
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Moreover, the implementation of labour mobility policies in the region, allowing expatriate workers to change jobs without employer consent, has resulted in a more dynamic and flexible labour market. These policies are expected to attract a greater number of international workers, thereby expanding the labour force.
GCC Labour Market Segmentation
The market can be divided based on employment, end use, country of origin, and country.
Market Breakup by Employment
Market Breakup by End Use
- Oil and Gas
Market Breakup by Country of Origin
- Sri Lanka
- South East Asia
- European Union
Market Breakup by Country
- Saudi Arabia
- United Arab Emirates
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the GCC labour companies.
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