Mashreq and Al Hilal Bank: one card fits allJuly 29, 2015 3:08
The mystery of the missing masses
Officials say the UAE did not witness a mass exodus because of the global financial crisis. But what about all those people who lost their jobs?
January 4, 2010 11:11 by Aarti Nagraj
Meanwhile, a recent report by Gulftalent.com found that one in 10 professionals working in the GCC was made redundant between August 2008 and August 2009. The percentage of workers laid off was highest in the UAE, with 16 percent of employees losing their jobs. The report also said that 15 percent of companies surveyed are planning further job cuts.
And many of the people laid off did in fact return home. A report in The Times of India newspaper in August last year claimed that more than 6,000 illegal Indian residents used emergency certificates (one-way travel documents issued to Indian nationals overseas who do not have valid documents such as passports) to leave the UAE between January and July 2009. That’s compared to 1,645 people who used them in the whole of 2008.
According to the report, most of the people who returned worked in sectors that were hit hard by the economic slowdown, including the construction industry.
If all these people did exit the country, and recruitment is still slow, how has the UAE’s population remained the same?