Employment
rates are typically considered an important indicator of a robust
economy and growth.
When
many people are employed, it signifies that a
country has a stable economy;
businesses are busy and highly profitable so that retrenchment never
happens, and there is a constant need to hire additional employees.
Because
of this, a high employment rate is used as an indicator of a
country’s prosperity.
The
Legatum Institute, a renowned UK-based educational charity,
includes this factor, which falls under the Economic Quality pillar,
in their yearly ranking of the world’s most prosperous nations.
The
Legatum Prosperity Index’s Economic Quality pillar is measured
using five key areas:
- Structural economic policies
- Economic satisfaction and expectations
- Distribution of wealth
- Labor and financial engagement
- Production quality and diversity
With
these areas in mind, this particular pillar evaluates
each country’s openness of economy and business and financial
opportunities for organizations and individuals.
MENA Countries Offering Top Employment Opportunities
As
one of the most prosperous regions in the world, the Middle East and
North Africa area has always been a favorite destination of foreign
workers.
These
countries offer
an abundance of employment opportunities that
both locals and expats find attractive, and can fulfill their career
and financial aspirations.
Based
on the Economic Quality pillar of the Legatum Prosperity Index, below
are the top five countries that offer the best employment
opportunities in the MENA region:
Ranking
9th
on the Economic Quality pillar, Bahrain is considered one of the best
countries that provide high-quality jobs and opportunities for career
advancement.
According
to a CNBC report, the majority of expat workers say that they enjoy
better earnings prospects in Bahrain than
in their home country. They are satisfied with their jobs and are
positive about their career outlook as well.
Additionally,
the majority of workers in Bahrain are happy with their work-life
balance. They find time to have fun and enjoy and do not devote
themselves to purely working.
Occupying
the 18th
spot in the Economic Quality pillar, the UAE continues to be one of
the most sought-after destinations for foreign workers. It is one of
the best countries for locals to work in as well.
This
country is widely renowned for its impressive financial
incentives for expats.
Workers
here receive attractive benefits as part of their employment package,
which is generally considered one of the highest in the world.
Foreign
workers also enjoy better earnings prospects than what they
previously received in their home country.
The
UAE is also recognized for its inviting work culture; because of
this, many workers are satisfied with their workplace environment,
practices, and values.
As
one of the wealthiest countries in the world that boasts high
standards of living, Qatar ranks 23rd
in the 2018 Prosperity Index.
Expats
make up most of the working population in this nation. English is
widely used here as well. As such, foreigners will experience a
smooth transition if they pursue employment in this country.
Additionally,
Qatar
has a low unemployment rate for its legal citizens.
They enjoy satisfactory career prospects, as well.
Moreover,
workers in Qatar receive compensation packages that are usually
similar to those paid in Western countries. However, they are
tax-free.
The
country of Israel ranks 32nd
in the Economic Quality pillar.
Aside
from having a stable economy, the latest study shows that Israel
only has an unemployment rate of 4.8 percent.
For
expats and locals, working in Israel today means immersing themselves
in a more liberal and diverse market economy. It is also highly
likely that workers will find themselves engaged in technology and
export – the country’s top two booming industries.
As
one of the safest and most beautiful countries in the world, Israel
is one of the best places to work in for people seeking work
overseas.
Ranking
43rd
in
the Economic Quality pillar of the Legatum Institute’s
2018
Prosperity Index,
Kuwait has maintained its status as one of the most popular
destinations for foreign workers. This is mainly due to the fact that
the country has one
of the lowest unemployment rates not only in the MENA region but
worldwide
as well.
Additionally,
both locals and expats enjoy tax-free compensation packages –
another excellent reason to work here.
In
Kuwait, employment opportunities abound in the oil, finance, business
services, and real estate sectors.
The
abundance of employment opportunities in a country is a crucial
factor to consider when deciding where to work overseas.
By
taking note of the economic status of a nation, expats will also have
a higher chance of boosting their career prospects and financial
status and achieving the perfect work-life balance.