The MENA region has vast reserves of petroleum and natural gas that make it a vital source of global economic stability. According to Oil and Gas Journal estimates, the MENA region has 60% of the world’s oil reserves and 45% of the world’s natural gas reserves.
Despite this enormous natural wealth, the MENA region has one of the highest unemployment (19%) in the world. World Bank June 2013 statistics reveal that the youth unemployment rates across the MENA region are the highest in the world – with more than 25% of youth in MENA unemployed.
The World Bank attributes the growing number of unemployed graduates are either due to the irrelevance of the skills they acquire, the cronyism that still dominates the region’s economies, or the lack of sufficient capacity to absorb the increasingly educated and skilled labor force.
By 2023, the World Bank estimates that 85 million additional jobs for youth will be required in the MENA region, posing a huge challenge for the region’s governments. Between 1970 and 2010, population of the Arab countries nearly tripled. The region will have 598 million inhabitants by 2050, according to the International Monetary Fund. (IMF)
The below Infographic “Employment In The Middle East – Statistics and Trends ” from Go-Gulf.com reveals about the employment industry, career opportunities, and hiring expectancy and job trends in Middle East.