According to Robert Walters, a recruiting company, the Dubai Expo 2020, the conclusion of the Qatar boycott, and the easing of limitations on foreign ownership in the United Arab Emirates are all anticipated to provide a significant boost to the Middle East’s hiring and deal markets in the coming years.
A significant increase in hiring and transaction activity is anticipated in the Middle East as the end of the year 2021 approaches, according to global recruiting company Robert Walters.
According to Robert Walters’ most recent region market report, the recruitment market in the Gulf Cooperation Council (GCC) maintained its robust recovery in the first half of 2021, mainly as a result of the Dubai Expo 2020 and the lifting of the embargo against Qatar.
The report said that “virtually all of the UK, US, and regional legal firms spanning a wide variety of industries have returned to the market, with corporate attorneys being the most sought for in the UAE.”
Demand, according to the company, will be driven by the lifting of numerous limitations on foreign ownership in the UAE, the halting of the Qatar boycott, and the Dubai Expo 2020.
There is a glut of mid-level associate positions in the corporate sector, which is expected to increase as a result of increased investment in the area, according to the report.
“Due to long-standing limitations imposed as a result of the worldwide epidemic, Saudi Arabia has seen a delayed recovery. It is obvious that the market will rebound stronger in the second half as a result of a slew of new players entering the market in the first half of the year. The need for attorneys in Qatar and Oman has also increased as a result of many long overdue changes in those Gulf Cooperation Council countries.”
According to the report, the in-house legal recruiting market was very active in some industries. “Due to the influx of new companies into the market and the establishment of new government bodies, there has been a significant surge in legal recruiting in Abu Dhabi.”
Results were generally better than anticipated across the board for law firms. As a result of the huge amount of foreign investment presently flowing into the area, as well as government efforts to boost economic activity, the firm predicts that the corporate legal market will continue to see a comeback.
In addition, we want companies to commit to long-term flexibility plans for their staff members, in order to provide attorneys with the work-life balance they have demanded in the past. With all indications pointing to a bright future for the Middle East legal industry, we anticipate that the second half of 2021 will see a renewed emphasis on the Saudi legal market.”