Saudization will drive job creation for citizens: GulfTalent

Employment opportunities are on the rise for Saudi nationals in 2018 as companies fall in line to meet the government's Saudization policies, recruitment firm GulfTalent said in a recent report.

"Some firms are seeking to achieve mandatory Saudization ratios by simply reducing their expatriate workers,” the online recruitment portal said.

It, however, added that more expats are "leaving the job market than the (number of) Saudis being hired."

Jobs in Saudi Arabia were seen shrinking this year, with 2 percent of firms reporting a reduction in headcount, the report said.

However, the overall GCC job market is set to grow at an average rate of 9 percent this year, driven by the recent rise in oil prices and an improvement in business optimism.

Kuwait leads the GCC in job creation, with 18 percent of firms increasing headcount.

In the United Arab Emirates (UAE) 13 percent of firms are reporting an increase in personnel, supported by Abu Dhabi’s oil sector and Dubai's non-oil sector, including the impact from infrastructure spending for Expo 2020.

Following the substantial downsizing over the past three years, the oil and gas sector is set to witness the region’s fastest headcount expansion, with 39 percent of firms expanding their workforces.

The healthcare and banking sectors also continue to expand, but construction and FMCG are expected to underperform.

Meanwhile, the largest demand for skilled professionals is in the finance field following the introduction of value-added tax (VAT) and the need to update finance processes and systems.

Demand for human resource professionals ranks second as companies seek to re-build HR teams that were drastically reduced over the last three years as they prepare for expansion, GulfTalent said.