Arab Today, arab today gcc population growth calls for diversification
Last Updated : GMT 17:59:14
Arab Today, arab today
Arab Today, arab today

GCC population growth calls for diversification

Arab Today, arab today

Arab Today, arab today GCC population growth calls for diversification

London - Arabstoday

Fast-growing populations across the GCC countries make economic diversification imperative in the region, S&P has said in a report. Population in the GCC region has grown by an average 4.2% over the past decade, of which 55% is below the age of 30, S&P said in the report. Meanwhile, the labour force has expanded by an average 3% per year over the past decade to reach 15.3mn in 2009. “This makes it imperative that economic diversification in the region continues to create more jobs, especially as the oil sector is more capital-intensive than labour-intensive,” S&P said. According to S&P, unemployment data for the GCC was “hard to find”. The Saudi Arabian Monetary Agency said unemployment in the kingdom reached 5.4% in 2009. But this number does not show a concerning picture: 10.5% of Saudi nationals were unemployed that year and 43.2% of those nationals below 24 years old were without a job, S& P said citing figures released by the Saudi Central Department of Statistics. A similar picture emerges from data published by the UAE statistical office: official unemployment rate in the UAE was 4.2% in 2009, a number that breaks down between non-nationals (2.8%) and nationals (14%). The situation is complicated by the fact that the employment of nationals is generally concentrated in the public sector, while foreign nationals are primarily employed in the private sector. About 90% of nationals in the UAE and 55% in Saudi Arabia are employed in the public sector, where wages are generally higher and social benefits more attractive. Most GCC governments have recognised the necessity to encourage the shift of the national workforce from the public sector to the private non-oil sector and to foster the expansion of the latter. The Saudi Ninth Development Plan (2010-2014), for example, aims to lift the non-hydrocarbon sector share of the kingdom’s GDP from 70% to 81%. Similarly, Kuwait’s five-year development plan has the non-hydrocarbon sector share rising from 44% to 61% by 2014. “Achieving those targets will be important to position the GCC economies on a long-term sustainable growth path,” S& P said.from gulf times.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gcc population growth calls for diversification Arab Today, arab today gcc population growth calls for diversification

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Air raid kills eight women, child

GMT 06:42 2017 Friday ,17 February

Air raid kills eight women, child
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 05:26 2017 Sunday ,19 February

US natural gas market tightens

GMT 05:06 2017 Sunday ,19 February

Merkel: Euro is too low for Germany

GMT 04:58 2017 Sunday ,19 February

Swedish PM: Brexit deal in 2 years is unlikely

GMT 20:02 2017 Saturday ,18 February

Gold edges higher as global equities lose momentum

GMT 10:20 2017 Thursday ,16 February

New Zealand's Spark rings up interim profit rise
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 15:16 2017 Sunday ,19 February

Apple to start India operations with iPhone SE

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday