Doha to offer about 5000 new jobs in financial sector
About 5000 new financial service jobs are likely to open in Doha this year, generated by banks in Qatar, as several expatriate bankers are planning to move into the emirate.
As per the forecast by Kinsey Allen, the recruiter, Dohas financial service industry will employ about 20,100 people towards end of this year, which is thrice the number of people employed in the sector in 2006 and much higher in comparison to the 14,900 people working in the sector towards the end of 2009.
The reasoning behind such an expansion is the constant increase in foreign investment, an increase from $3.63bn in 2008 to $20.75 in 2009.
More expatriates are likely to be attracted to Qatar, due to its lack of income tax and comparatively liberal culture, with recruiters, for instance, already reporting increased interest from London banks, as the income tax rate is likely to see a surge this April in UK.
The number of employees in Qatar financial services sector has increased by 35 percent year on year for the last four years, says James Bridgman, the Managing Director of Kinsey Allen’s Middle East operations.
Posted on 4/3/2010