Reports Indicate Strong Business Confidence in the Middle East

The latest working capital study by PWC Middle East reports that businesses in the region have experienced a strong post-pandemic rebound and that revenues have risen above pre-pandemic levels.

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This article is written and produced by Auxilium, one of the GCC’s leading Employer of Record and outsource staffing solutions providers.

The latest working capital study by PWC Middle East reports that businesses in the region have experienced a strong post-pandemic rebound and that revenues have risen above pre-pandemic levels.

The study, which outlines the underlying regional trends impacting Middle East businesses and helps companies to assess their working capital performance, indicated that many businesses were now moving their focus away from strategies based on stabilizing and surviving, to more positive strategies around recovery and growth.

The study said that a number of factors are contributing to the upturn, including the strong response taken by governments in the region to overcome COVID-19; the increase in oil prices; and the positive impact of two major international events, EXPO 2020 in Dubai, and the upcoming FIFA World Cup in Qatar.

Confidence in the region’s economy was reinforced earlier in the year by the Hays 2022 UAE Salary Guide. Although the survey showed that salaries were not expected to increase by as much in 2022 as they did in pre-pandemic years, nevertheless they did reflect very positive business sentiments across the board in the Gulf Region.

The guide, published at the beginning of the year, correctly predicted that the most resilient business sectors in 2022 would include technology, human resources, and healthcare, with continued strong demand in the consulting, advisory and recruitment fields, as well as the usual high demand for people in the real estate and sales & marketing professions.

In fact, a number of reports and analysts are indicating that almost all industries in the region are showing an increase in recruitment activity, and that for many sectors, there are skills shortages in a number of key roles.

This is good news for talented candidates looking to start or develop their careers in the region, as well as for established companies looking to expand internationally, or for new start-ups seeking to capitalize on the post-pandemic economic upturns.

One of the most efficient and effective routes to enter a new market is to work with a professional EOR partner. An EOR is a third-party organization that acts as the legal employer of a company’s workforce and takes on all essential employer-related and HR management functions on their behalf. Importantly, it allows a company to hire and engage employees in a country without having to set up local entities.

EORs expedite the legal, regulatory and compliance processes that companies have to navigate in order to establish their local teams and infrastructure, while mitigating or reducing many of the associated risks.

EORs also offer individuals the security and confidence of being permanent employees, rather than temporary or contract workers. This is particularly important for people starting their careers with a new company and in a new country.

Talk to Auxilium

If you are considering expanding your business into the GCC, or if you are looking to recruit international talent to help grow your business, then you should talk to Auxilium, one of the leading EOR and outsource staffing solutions providers in the GCC Region. We help organizations to expand and recruit staff in the UAE, Qatar, Bahrain, Saudi Arabia, Kuwait and Oman.

For more information on employer of record and outsource staffing services, please contact the Auxilium EOR Team

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