Growing economies usually add new jobs at fast pace. With Expo 2020 fast approaching in Dubai, the annual rate of growth in new jobs will easily double if not triple. However, just a handful of job sectors will account for more than 50% of all new jobs created. Estimates indicate that careers in healthcare, construction, professional and business services, and social assistance alone will account for the majority of jobs in demand.
In addition huge number of new openings will be created over the same period as older expat workers retire and leave the labor force. What’s more interesting is of the top five fastest-growing occupations of 2020, many don’t even require a college degree. Notwithstanding, earning a college degree or higher is a good predictor of a workers future career success. Even though several of the top careers of 2020 don’t require degrees, many of the “driver” careers do. Driver careers are those careers in high-skill sectors of the local economy that support economic growth – and these careers are increasingly requiring advanced training and higher education.
Employers of the future will increasingly seek candidates with a bachelor’s degree or higher. This will be particularly true among high demand careers in competitive job markets. It’s estimated that in many markets where high demand jobs will be created, an upwards of 60% of workers will hold at least a bachelor’s degree.
Given the strong correlation between higher education and economic growth, some experts have been bold enough to claim that the growth of the UAE’s economy through 2020 and beyond will be tied directly to the level of education achieved by its workforce.
So what type of education will put you at the top of the pack in 2020? Well, we turned to some of the top employers to answer this question.
Companies are now looking for graduates with degrees in accounting, engineering, computer science, business and economics. Ironically, while most employers are looking for grads with the aforementioned skills, most college students are enrolled in history, education, history, and social science majors (lower demand areas).
Most probably, by 2020 demand for college grads with relevant skill sets will outpace supply two times. Good news for those with in-demand skill sets – who will be able to demand higher premiums for their services – but bad news for the under-educated – who may struggle to find employment in the Gulf’s top job markets. Now that you understand the value of education, as it relates to future job opportunities, let’s take a look at those job sectors that are expected to be among the fastest-growing by 2020.