Statistix

IMF Staff Completes 2017 Article IV Mission to the United Arab Emirates

scrubbedexpat141

Fascinating.

Even the IMF believe the Expo hype.

Millhouse

The IMF would never say otherwise.

What I find interesting is that some sectors of the economy are doing very well. It's just they do not translate to actual jobs or a feeling that things are doing well.

Let's also not forget that the IMF would have been fed questionable data.

scrubbedexpat141

Tongue firmly in helmet.

Dubai's the weirdest I've known it. Busy busy busy but also not and people being punted all over.

Very strange.

Miss Ann Thrope

I think if you read carefully there are quite a few barbs concealed in the IMF report...

shiva

Its reminding me of 2007.
Certain sectors are doing very well, others are apocalyptic.
I had another mate laid off this morning, he thought he'd survived the oil and gas purge, apparently not and I must know about half a dozen long term expats bailing this summer, combination of cost of living and the distinct feeling we've been here before.

scrubbedexpat141

Cost of living is a new but valid reason for some leaving.

Inselaffen

VAT is not going to help that!

scrubbedexpat141

No, I suppose not.

BUT - the Mrs just got an extra 5% on housing allowance and I'm in the middle of a pay review.

al dente

It feels very 2008 down our way.

Two of our oldest friends are leaving. One, the project ended and the other hadn't seen his boss for 5 months, felt frustrated, so resigned. His team then resigned too. Interestingly he was offered a job in China for a big player but they couldn't make the numbers work so has chosen to 'retire' and become a consultant - back to the UAE! They will live in Europe and he will flit over when needed.

Other than that FB is full of leaving sales and Crown say they are inundated with few bookings for new arrivals.

Yet LinkedIn is full of jobs, some even don't specify UAE national only. There is a fair big of rejigging going on and we live in interesting times.

Kakawax

World Skills is being held in Abu Dahbi in October, goes without saying that finding native talent has been fruitless.
That potential loss of face on the world stage has repercussions and moves are afoot to redress the balance... though prolly not in our lifetime

Statistix

I heard a rumour that even a former Bored member, The Dean, may be relocating back home........

scrubbedexpat141

You're him aren't you?



We're offering jobs to people but generally they're taking the same cash. If they're at risk or even slightly concerned we're securing them for slightly less, more often than not.

Critical / hard to source roles still get increases but not much.

Millhouse

We are not that busy. Companies are not investing or expanding and hence are not requiring new money.

Local private equity money is busy looking for deals in India, and Africa. Very deal regional deals are happening. People are asset managing ... which normally means sorting out the bad shit. KSA is showing some hope, but we are still at the hope stage.

Millhouse

They are getting the last drips of milk from the cow before it dies.