Dubai: Rising inflation and weakening of Gulf currencies have taken a toll on the Middle East job market, with majority of Indian and Pakistani workers unhappy with their current jobs and willing to look for a change, a new survey said.
According to the ArabianBsiness.com salary survey released on Sunday, 69 per cent of workers were more likely to quit their jobs this year. Only 16 per cent of Indian and 13 per cent of Pakistani workers said they were less likely to switch jobs.
The attractiveness of the Gulf region for expatriate workers has taken a hammering over the last two years due to the rising cost of living and weakening of Gulf currencies linked to the declining US dollar.
Inflation surged to record highs across the Gulf last year, registering a rise of 14 per cent in Qatar, 7.6 per cent in Oman, 6.2 per cent in Kuwait, 6 per cent in Saudi Arabia, 4.9 per cent in Bahrain and 9.3 per cent in the UAE.
The businesses in Gulf countries, where the number of Indian workers is estimated to between four and six million, face a tough year ahead in retaining staff with majority of the workers expressing willingness to quit their jobs this year, the survey said.
Data from the annual survey shows a sharp decline in job loyalty across the Gulf states. In Saudi Arabia, 69 per cent were planning a job change while in the UAE the figure stood at 68 per cent.
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