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Microeconomics - Research Paper Example

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Goods such as food and drinks, electronic goods, vehicles etc are tangible resources whereas services like education, healthcare, tourism, business consultancy etc are intangible…
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Microeconomics
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Download file to see previous pages Abdullah (2007) has pointed out that “8 out of 10 people living in the UAE were born abroad as per the statistics available in 2005. Moreover, the percentage of non-citizen will reach 90 per cent by 2015”(Abdullah, 2007). At present, UAE is trying to reduce the number of expatriate workforce in the country by injecting more locals in the employment sector. This paper analyses the pros and cons of scarcity of manpower resources in UAE.
Even though the major revenue source of many of the Gulf countries are oil resources, the case is entirely different for UAE. Business is the major revenue source for UAE. In fact UAE is the business hub of Middle East. Majority of the prominent companies all over the world has business units in UAE. Educated and skilled manpower resources are a must for the business units in UAE. The number of educated UAE locals is less than the demand created by the employment sector in UAE. In other words, supply of UAE labour force would become inadequate to meet the demands crated by the business sector in UAE. Under such circumstances, expatriate workforce is helping UAE immensely in meeting the demand for professionals and skilled workers in industrial and business sector. In short, scarcity of skilled workforce in UAE is helping UAE to bring professionals from all over the world to UAE soil so that the business sector will always get the services of skilled people from different countries. In other words, scarcity of workforce helps UAE to provide diverse workforce from all over the world to UAE business units. It should be noted that diversity of workforce is extremely important in current extremely globalized business environment.
Scarcity of domestic workforce helps UAE to strengthen its trade ties with other countries. For example, UAE is successful in establishing string trade relations with India because of the huge number of Indians working in UAE. Dubai world, Dubai media city like big companies are ...Download file to see next pagesRead More
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