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UAE likely to see $50bn skilled labour gap by 2030

UAE likely to see $50bn skilled labour gap by 2030

Dubai : Businesses focus too much on technology as opposed to human labour, causing a skill gap in the market, according to the MD of Korn Ferry

By 2030, the UAE is likely to experience a skilled labour gap worth $50 billion, making up 5 percent of the economy, according to Jonathan Holmes, country chair and managing director of Korn Ferry Middle East.

Speaking at the Arabian Business Forum, Holmes said the gap which constitutes 110,000 skilled labour is a result of organisations focusing too heavily on technology as opposed to human labour.

“That’s not a number to be ignored. We would have $50bn extra in the economy if we filled the gap. Organisations have a blinded view of technology, where they have been focusing too heavily on technology as a solution for business, whereas people will become more important and costlier if organisations don’t change that,” he said.