Secret Of Dubai Finance

23 Jan 2013

Young men and women in finance are facing job crunch around the world, but the Emirate has added as many as 2000 high-paying finance jobs in the last 1 year. The latest survey by the Dubai International Finance Centre reveals the Emirate’s financial centers at present employed over 14,000 experts, a jump of 16% over the previous year.

Not many from the Emirate can boast of being a finance expert, and they number just 3% of the total. And who has added to the increase of finance experts last year? Not Europeans who numbered 37% of the total but 2520 experts from the rich North America. This is testimony to the economic crunch that has diverted the experts to the Emirate. In 2010, over 2000 American experts had moved to Dubai.

There is however a disconnect that the situation projects. If North American finance experts were moving in such large numbers to Dubai, why would finance rating agencies predict problems to the Emirate’s economy time and again? In fact, all noted rating agencies had predicted doldrums for Dubai, and each time the Emirate created a landmark. After all, it is the American experts who are ruling the roast in Dubai.