UAE Non-Oil Business Activity Surges to Nine-Month High in December

Image
 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...

Metaverse Jobs in Dubai: Roles which will be in demand

 

The emirate's economy will grow by $4 billion and support 40,000 virtual employment under the Dubai Metaverse Strategy, which was unveiled on Monday. Executives in the human resources sector and metaverse specialists have described to Khaleej Times what these occupations, which will likely be formed in the coming years, may involve.

Digital architects, engineers for AR and VR, 3D graphic designers, artists, and architects, as well as inventors, NFT experts, storytellers, and digital salespeople, might all play a role.

Strategy and planning 

A corporation should have a person who can design a plan that includes developing a roadmap and blueprint for a step-by-step method for growing in the metaverse, according to Sharad Agarwal, chief metaverse officer of Cyber Gear.

In the metaverse, there are many construction pieces that call for various skill sets. A corporation needs a strategic planner as its primary resource. Because the metaverse is all about immersive experiences, businesses will need AR and VR engineers, 3D graphics designers, artists, and architects to develop digital twins, which transfer the actual world into the virtual one, according to Agarwal.

Blockchain programmers

He added that since the metaverse must be constructed on a blockchain platform, a blockchain programmer is another position that might open up in this industry.

NFT experts, content developers

Firms will then want personnel who are knowledgeable about integrating payment gateways and wallets. People that comprehend NFT are the next breed since it is a method of monetization, a means of creating loyalty programmes, etc. Additionally, "storytellers"—content developers who can weave a narrative—will be needed by metaverse businesses. They'll be able to produce unique and interesting material. Additionally, there will be employment opportunities for those who already have networks on Twitter or LinkedIn that can be used to grow an audience, according to Agarwal.

He emphasised that creating a sense of community takes time and is essential for success.

Virtual jobs explained

According to senior consultant George Foley at Michael Page, the metaverse is being created as a result of virtual employment. Don't be fooled by their "virtual" titles; they hold very real roles that will have a big impact on the economy and your daily life.

He declared, "We need individuals to create this virtual environment for us since the metaverse is swiftly becoming a reality. This implies that digital architects, world builders, and innovators have a completely new set of jobs available to them. Additionally, live "virtual" performances, digital salesmen, and even customer service roles are all potential job adaptations, according to Foley.

Remote work, freelancers

Remote employment was extremely uncommon ten years ago, according to Korn Ferry's Vijay Gandhi, regional director for Europe, the Middle East, and Africa.

"More professionals will be working from Dubai thanks to accommodating work-from-home rules and cutting-edge telework technology. The future of the technology, fashion, and service industries will involve virtual professions, or jobs that don't require a real workplace. Jobs like web developers, digital roles, online teaching, video editing, social media influencers, bloggers, and freelance writers are just a handful that will continue to grow regardless of location. The distant rate among these professionals in the future is particularly striking given the significant percentage of white-collar jobs normally performed in an office,” continued Gandhi.

Key sectors

There are numerous job prospects that would materialise as part of the Dubai Metaverse Strategy, according to Arshad Khan, co-founder and CEO of Arabian Bourse.

"Virtual jobs in the education and training sectors are anticipated to grow on a basic basis. This comes after the rise in online learning that occurred often in schools, universities, and other institutions over the past two years during the coronavirus pandemic. As well as creating jobs in the blockchain and cryptocurrency industries, as well as in artificial intelligence, startups, entrepreneurship, virtual reality, and Web3, the exploitation of cutting-edge metaverse technologies is anticipated,” he added.

Crypto jobs

"Because the metaverse and NFTs were made possible by the cryptocurrency and blockchain industries, it is anticipated that the number of crypto-based professions in Dubai and the UAE as a whole will keep growing. The digital economy is anticipated to grow as well, with increasing software development and content creation serving as identifiers of the current economic and technical transition. Functional knowledge in areas like machine learning, IoT, cybersecurity, and cyberlaw is also anticipated to increase, according to Khan.

Comments

Popular posts from this blog

Enhancing Relationships: Sheikh Khaled’s Trip to India Signals a New Phase of UAE-India Relations.

UAE's Enduring Legacy of Generosity: New Initiatives Highlight Global Humanitarian Efforts.

The UAE's AI Ambitions Get a Boost with Nvidia Chip Approval: A Game-Changer for the Gulf Region.