Specifics of the labor market in the United Arab Emirates

The discovery of minerals and their subsequent export made the United Arab Emirates (UAE) one of the richest countries in the world. The main source of income is oil and natural gas, which dominate the country's economy. However, this dependence on fossil fuels also poses a risk to the long-term sustainability of the UAE economy. And that is why the government decided to diversify its economy and develop other sectors as well. One of the significant measures to diversify the UAE's economy is its long-term strategy called "Vision 2021", which was launched in 2010. This strategy emphasizes the development of sectors such as tourism, financial services, technology, energy, health, education, and infrastructure. The UAE invests in these sectors and creates conditions for the growth and development of not only foreign investment, but also domestic business. The aim of these investments is to diversify the UAE economy and reduce its dependence on oil and natural gas. The development of other sectors brings new job opportunities, increases productivity, and increases the economy's resilience to fluctuations in raw material prices. This bachelor's thesis examines and evaluates the current changes in the labor market. The persistently low employment of domestic residents in the private sector and the low rate of participation of women in the labor market were identified as the biggest persistent shortcomings. For higher employment, the UAE should compensate for unequal working conditions between the public and private sectors and increase the participation rate of women.