Saudi Arabia Leads Gulf Cooperation Council with 30% Increase in Online Job Listings

---

Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Online job listings in Saudi Arabia rose 30% in March from the same month last year, according to Monster Employment Index, despite a significant drop in the oil sector. Online Saudi job listings in the creative and media industry increased 55%, according to the employment index. However, Saudi Arabian job listings fell 3% in the oil sector, according to the employment index.

"Impacted by the drop in oil prices, the Saudi oil sector has been the worst performer in the last month, and the only one [among the Gulf Cooperation Council] registering a negative growth of 3% [year on year]," said Sanjay Modi, managing director of Monster Employment Index. "Companies operating in the oil sectors are keeping a tight grip on their budgets, and our data suggests hiring in this sector has slowed down considerably."

As the country is preparing to open up to foreign investment, local and international firms operating in Saudi Arabia are excited at the prospect of promoting their products and services, which has led to a significant increase in demand for creative talent, Modi said.

Six out of seven countries in the Middle East-North Africa (MENA) region indicated increases in availability of online jobs.

Gulf Cooperation Council (GCC) countries are forecast to experience a rise in contracts placed in 2015 to $172 billion, despite the lower oil prices. Demand for material and skills will continue to grow, which will test the capacity of the supply chain.

"The scale and quality of the GCC construction boom is reflected in the growing number of top-quality infrastructure, building and industrial projects being completed across the region," said Edmund O'Sullivan of Meed Quality Awards.

About $135 billion worth of contracts are due to be awarded in Qatar from 2015 to 2020, driven by the 2022 World Soccer Cup. This is in addition to the $100 billion placed since Qatar was appointed as host nation in 2010.

For related information, see January 7, 2015, article - Oil Prices, Other Factors Dampen Middle East-North Africa Energy Investment Forecast.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.