UAE: 8 in 10 Emiratis want to start their own business, be self-employed – News

The number of citizens working in the private sector will increase by 36% between 2022 and 2023, while the government aims to employ 75,000 locals by 2026

The majority (80%) of UAE graduates want to develop entrepreneurial skills to eventually become self-employed and start their own businesses, according to a new survey by global consultancy PwC Middle East.

The findings show that young citizens are keen to develop skills related to research and data analysis, emerging technologies, and creativity and innovation. The survey covered 500 Emiratis and recent graduates in the UAE’s public and private sectors.

Around two-thirds of young citizens currently working in private companies are considering returning to the public sector, according to the inaugural PwC Middle East – Emirates Survey 2023. However, their interest in private sector employment in the UAE started to increase as more opportunities emerged in the private sector as the government pushed to hire more graduates in the private sector.

The number of Emiratis working in the private sector will increase by 36% between 2022 and 2023. According to PwC, the government aims to employ 75,000 Emiratis in the private sector by 2026.

Efforts to attract Emiratis into private enterprise are proving increasingly effective, the study noted. However, more needs to be done by employers to promote the retention of national talent through targeted investments that result in sustained economic development or tangible long-term business benefits for the UAE.

The survey found that 62% of UAE graduates find it more difficult to find a job in the private sector, while 61% are interested in joining the private sector for better learning and development opportunities, as well as a more autonomous work environment that encourages innovation and creativity .

“Collectively, we must all play a leading role in helping the UAE achieve its shared vision and continue to build a sustainable, prosperous economic future. Now is the time for us to work together to achieve this ambitious national agenda,” Khaled Bin Braik, PwC Middle East Emiratization Leader, said.

At the same time, 50% of Emiratis working in the private sector face work-life balance challenges and are significantly less satisfied with their pay and benefits package than those working in the public sector.