Talent Outsourcing Services in UAE to reach $6.8 billion by year-end, new report reveals

Talent Outsourcing Services in UAE to reach $6.8 billion by year-end, new report reveals

DUBAI, 5th April, 2023 (WAM) -- Ranked 16th globally for ease of doing business, the UAE is now the second-largest economy in the Arab world, with a gross domestic product (GDP) of around US$360 billion in 2020. As one of the key markets or demand “hot spots” for job outsourcing, the country is rising as a strategic hub where entities can easily outsource parts of their value chains and source-in talent from third parties, thus facilitating high growth overtime.

According to a new report by Boston Consulting Group (BCG) in collaboration with Forward MENA previously known as Beirut Digital District (BDD) Academy, the total spending by UAE-based organisations on outsourcing services from local and offshore providers was estimated at over US$4.8 billion in 2018 and is expected to reach US$6.8 billion in 2023, with a compound annual growth rate (CAGR) of approximately 7 percent.

The report, titled “MENA Talent Map”, found that the UAE is one of the largest suppliers of talent in the Gulf Cooperation Council (GCC). Customer support, finance and accounting, human resources, and KPO are the major jobs and job clusters supplied by the UAE.

In terms of the nation’s future economic outlook, three job clusters were highlighted to help