Middle East youth rewriting the rules of corporate success, says report
Young people in the region are prioritizing financial stability, personal purpose, and mental well-being over traditional markers of success such as climbing the corporate ladder, according to the 14th edition of Deloitte Global's Gen Z and Millennial Survey.
The survey findings are particularly relevant for the Middle East, where over 60% of the population is under the age of 30: in Saudi Arabia alone, two-thirds of nationals fall within this age group, while nearly half of the UAE's population is between 15 and 35.
Mutasem Dajani, CEO of Deloitte Middle East, said: "As our region navigates the ongoing economic and social transformation, as well as the disruption caused by emerging technologies, it's imperative for organizations to recognize and adapt to the priorities of our youth."
"On top of financial stability our youth today are expressing a need for a sense of personal purpose, which is essential for their mental well-being and career satisfaction. At Deloitte, we are committed to supporting young talent by fostering an environment that empowers them to thrive and enjoy meaningful careers," he stated.
Deloitte's global study is based on responses from over 23,000 Gen Z and millennial participants across 44 countries.
Three-quarters of respondents in these generations believe GenAI will transform their work in the coming year. Gen Zs and millennials are using GenAI more frequently, prioritizing training to boost their skills, and seeing improvements in their work quality.
More than half already use GenAI in their day-to-day work, with 29% of Gen Zs and 30% of millennials using it all or most of the time.
However, more than 60% of youth worry GenAI will eliminate jobs and are motivated to seek jobs that they perceive as safe from GenAI-driven disruption.
Working alongside GenAI, more than eight in 10 Gen Zs and millennials say developing soft skills, like empathy and leadership, is even more important for career advancement than honing technical skills. Yet only 6% of Gen Zs say reaching senior leadership is their top career goal. Instead, they are gravitating toward roles that allow for learning, growth, and balanced living.
Notably, these generations are questioning the value of higher education. Around one-quarter expressed concerns about the relevance of the curriculum to the job market, and the practical experience it offers.
The pursuit of money, meaning, and well-being
When asked about the factors that impact their career decisions, Gen Zs and millennials gave responses that fell into three categories: money, meaning, and well-being.
The Deloitte survey underscores that these areas are tightly interconnected as respondents seek to find the right balance.
According to the survey, financial insecurity is on the rise: nearly half of Gen Zs (48%) and millennials (46%) do not feel financially secure, up from 30% of Gen Zs and 32% of millennials in last year's survey.
The survey data also reinforces that without financial security, Gen Zs and millennials are less likely to have a positive sense of mental well-being and less likely to feel their work is meaningful.
Moreover, purpose influences job satisfaction. Roughly nine in 10 Gen Zs (89%) and millennials (92%) consider a sense of purpose to be important to their job satisfaction and well-being.
Among those who report positive mental well-being, 67% of Gen Zs and 72% of millennials feel their job allows them to make a meaningful contribution to society compared to 44% of Gen Zs and 46% of millennials who report poor mental well-being.
Rana Salhab, People & Purpose Managing Partner at Deloitte Middle East, said: "Gen Zs and millennials are rebalancing priorities at work, amid a dynamic business landscape that is being constantly reshaped by technologies such as AI."
"What we're seeing in the Middle East is a redefinition of ambition, not a lack of it. Younger people want to build careers that are aligned with their aspirations. It's a powerful call for more human-centered leadership, one that is thoughtful about the impact of technology and supporting the workforce while advancing organizational goals," he added.- TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
DUBAI
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
UAE Moments
an hour ago
- UAE Moments
UAE's Growth: Economy, Culture, Sustainability & Innovation
The United Arab Emirates: A Comprehensive Insight into Progress, Culture, and Economy Introduction to the United Arab Emirates The United Arab Emirates (UAE) is a modern nation recognized globally for its remarkable advancements in technology, architecture, and economic development. Situated in the southeastern corner of the Arabian Peninsula, the UAE comprises seven emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Fujairah, and Ras Al Khaimah. Since its formation in 1971, the UAE has transformed from a desert economy reliant on pearl fishing into a global hub for trade, tourism, finance, and innovation. With a strategic location connecting Asia, Europe, and Africa, the UAE serves as a focal point for international businesses and cultural diversity. The blend of traditional Arab heritage and futuristic modernization makes it one of the most intriguing destinations for tourists, investors, and expatriates. Through strategic planning and visionary leadership, the UAE has established itself as a powerhouse in the Middle East and beyond. A Thriving Economy Built on Oil, Trade, and Diversification The Role of Oil in UAE's Economic Beginnings The foundation of the UAE's economic development began with the discovery of oil in the region. Oil exports led to a rapid influx of wealth, allowing the country to invest heavily in infrastructure and public services during the 1970s and 1980s. Abu Dhabi, which holds the majority of the UAE's oil resources, became the primary financial contributor to the federation's prosperity. However, while oil revenues played a significant role in the initial phase of development, the UAE understood that reliance on a single resource posed risks to long-term stability. This insight led to a concentrated effort to shift the economy towards diversification. Today, oil contributes less than 30% of its GDP, showcasing the success of its strategic planning. Economic Diversification and Innovation To reduce dependence on oil, the UAE has invested heavily in industries such as tourism, technology, real estate, aviation, and renewable energy. Dubai, often regarded as the face of UAE's economic success, has become a global hub for trade and tourism. Attractions such as the Burj Khalifa, Palm Jumeirah, and events like the Dubai Expo highlight its ability to attract visitors and investors from all over the world. Real-world examples include Dubai International Airport, which consistently ranks among the busiest airports globally, showcasing the UAE's importance in global connectivity. Another instance of innovation is Masdar City in Abu Dhabi, an urban development focused on sustainability and renewable energy, supporting the UAE's vision for a green future. Statistical Insights into UAE's Economy According to data from the World Bank, the UAE's GDP reached approximately $421 billion in 2022, reflecting its impressive economic growth. Non-oil sectors account for over 70% of this GDP, indicating the effectiveness of its diversification policies. Additionally, international trade amounts to nearly $600 billion annually, positioning the UAE as the Middle East's trade capital. The UAE has also ranked among the top 10 countries globally for ease of doing business, with various free zones like Jebel Ali Free Zone (JAFZA) and Dubai Airport Free Zone providing incentives for international companies. Such initiatives have driven the UAE to become a preferred destination for global investors. Culture: A Unique Blend of Tradition and Modernity The Heritage of the UAE and Preservation of Arab Identity Despite its rapid modernization, the UAE prides itself on maintaining its Arab roots and heritage. Traditional values of hospitality, family, and respect still dominate everyday life. Cultural landmarks such as the Sheikh Zayed Grand Mosque in Abu Dhabi serve as symbols of both religious devotion and architectural genius. Festivals like Eid Al Fitr, Eid Al Adha, and National Day highlight the UAE's rich cultural traditions. These events are celebrated with grandeur and serve as moments where residents, expatriates, and tourists come together to appreciate the Emirati way of life. Integration of Global Customs and Diversity The UAE is home to over 200 nationalities, making it one of the most multicultural nations globally. The Emirati people have embraced diversity by integrating various cuisines, languages, and customs into their culture. For example, Dubai hosts the Dubai Shopping Festival, an event that attracts international participants and showcases a blend of global traditions. Cultural exchange is evident in the UAE's educational institutions as well, where schools offer curricula from countries such as the United Kingdom, United States, India, and more. Expatriates find comfort in the UAE's inclusive laws, while Emiratis retain their heritage, creating a harmonious society. Sustainable Urban Development and Architecture Modern Architectural Wonders The UAE has become synonymous with groundbreaking architectural achievements. From the tallest tower in the world, Burj Khalifa, to the artificial islands of Palm Jumeirah, the country's innovative spirit knows no bounds. The Louvre Abu Dhabi offers another example of architectural ingenuity, combining traditional Arab designs with modern aesthetics. Such projects have not only captivated the world's attention but have also driven economic growth by attracting millions of tourists annually. For example, statistics show that Dubai received nearly 16 million visitors in 2022, making it one of the most visited cities globally. Sustainable Development Projects The UAE has also taken a leadership role in promoting sustainable urban development. Masdar City serves as a shining example, with its focus on sustainability, renewable energy, and zero-carbon living. Additionally, projects like the Dubai Clean Energy Strategy aim to make renewable energy account for 75% of Dubai's power by 2050. Alongside these initiatives, the UAE has launched programs like the Green Economy Initiative and UAE Energy Strategy 2050 to reduce carbon emissions, ensuring modernity does not come at the cost of environmental degradation. Tourism: A Pillar of UAE's Diversified Economy Global Attractions and Events Tourism is one of the fastest-growing sectors in the UAE, contributing significantly to the nation's economy. Landmarks such as the Burj Al Arab, Dubai Frame, and Abu Dhabi's Emirates Palace are magnets for travelers worldwide. Events like the Dubai Expo and the Abu Dhabi Grand Prix further diversify the types of tourists visiting the country. Research conducted by Dubai Tourism reveals that the emirate aims to attract 25 million visitors by 2025. This ambitious target reflects the success of various tourism strategies, including hosting cultural festivals, music events, and exhibitions. Artificial islands and luxury resorts have also contributed to strengthening the UAE's reputation as a world-class tourist destination. The Rise of Eco-Tourism Eco-tourism is emerging as a popular trend in the UAE, thanks to initiatives such as the Al Marmoom Desert Conservation Reserve and Jubail Mangrove Park. These destinations allow visitors to connect with nature while learning about the UAE's environmental conservation efforts. Furthermore, wildlife sanctuaries like Sir Bani Yas Island offer a haven for endangered species, turning the UAE into more than just a destination for opulence—it's also a place for ecological exploration. Education and Technological Innovations Advancements in UAE's Educational Sector The UAE prioritizes education as a cornerstone for future development. State-of-the-art schools and universities, such as Zayed University and NYU Abu Dhabi, reflect the country's commitment to raising globally competitive professionals. Education reforms have introduced technology-driven curricula to ensure students are prepared for the digital age. For example, the UAE Ministry of Education's Smart Learning Program has integrated advanced technologies like Artificial Intelligence (AI) into classrooms, offering new opportunities for teaching and learning. The UAE as a Regional Technology Leader The UAE has emerged as a hub for technological innovations. Startups specializing in technology reside in zones like Dubai Internet City, supported by government funding and incubator programs. The UAE is also pushing boundaries in AI through high-profile projects such as employing AI for healthcare diagnostics and smart city developments. Additionally, Emirates Mars Mission—the UAE's space exploration venture—highlights its foray into advanced sciences, making it the first Arab nation to reach Mars. Such initiatives solidify the UAE's position as a leader in modern innovation. Business Environment and Opportunities A Magnet for Global Investors The UAE provides an investor-friendly business ecosystem backed by free zones, tax exemptions, and modern infrastructure. JAFZA alone has over 8,000 companies across industries, ranging from logistics to advanced manufacturing. Moreover, UAE's robust banking system and strong rule of law make it an attractive destination for businesses seeking stability in the Middle East. Major corporations, such as Amazon, Google, and Microsoft, have established offices in the UAE, capitalizing on its strategic location and advanced digital infrastructure. Support for Startups and Entrepreneurs Initiatives like Dubai Future Accelerators and Sharjah Entrepreneurship Festival encourage global startups to operate in the UAE. Emirati youth are also displaying a growing interest in entrepreneurship, supported by programs such as Khalifa Fund for Enterprise Development, which offers grants and mentorship. Statistics show that SMEs (Small and Medium Enterprises) contribute over 53% to the UAE's GDP, emphasizing the country's commitment to fostering innovation and growth. UAE's Vision for the Future The UAE has set ambitious goals under Vision 2021 and Vision 2030 frameworks, which emphasize sustainability, innovation, and diversification. Projects like the Dubai Clean Energy Strategy align with these goals, with a focus on shifting away from fossil fuels. Additionally, the upcoming COP28 conference, to be hosted in the UAE, exemplifies the country's leadership in tackling global environmental challenges. Global Collaborations and Partnerships The UAE continues to strengthen its international relations through partnerships with major economies like the United States, China, and India. Collaborative efforts in sectors such as energy, education, and defense underscore the country's importance on the global stage. Its active participation in organizations like the International Renewable Energy Agency (IRENA) further showcases the UAE's role in shaping the future of sustainable development worldwide.
Al Etihad
3 hours ago
- Al Etihad
UAE's Calidus concludes successful participation at IDEF 2025 in Istanbul
27 July 2025 20:02 ISTANBUL (WAM)UAE-based Calidus Holding Group has concluded its successful participation in the 17th edition of the International Defence Industry Fair (IDEF 2025), held at the Istanbul Expo Centre from July 22 to 27, as part of the UAE National Pavilion, supervised by Tawazun Council for Defence Enablement (Tawazun).The Calidus stand witnessed strong engagement from senior officials, military leaders, and official delegations from around the world, who praised the advanced capabilities of the UAE's defence industry and commended Calidus products for their reliability, precision, and competitiveness on regional and global the exhibition, Calidus signed several agreements and memorandums of understanding, including an MoU with Türkiye's Presidency of Defence Industries (SSB) to support supply chain collaboration and industrial localisation programmes, as well as an MoU with CTech to explore joint satellite communications and data link projects for military Director and CEO of Calidus Holding Group, Dr. Khalifa Murad Al Blooshi, stated that the participation significantly boosted the company's international presence and showcased the technological innovations of the UAE's defence sector, particularly in AI-driven and next-generation defence solutions, all designed and manufactured exhibited a range of advanced solutions, including the MATV armoured combat support vehicle integrated with the Al Hedaa missile launcher, six variants of the Al Hedaa system, models of the B-250 light attack and B-250T advanced trainer aircraft, a mock-up of the CLS military vehicle production facility, and cutting-edge electro-optical and infrared company also presented its locally manufactured military chassis, built for high-load and extreme-condition performance. The company emphasised that its IDEF 2025 participation aligns with its broader vision to strengthen the UAE's role as a key player in the global defence landscape through technology localisation, strategic autonomy, and regional and international market expansion.
Khaleej Times
4 hours ago
- Khaleej Times
UAE: Visa waiver for some Pakistani passport holders comes into effect at all airports
The UAE and Pakistan have activated a visa waiver for diplomatic and official passport holders, said Ishaq Dar, deputy prime minister and foreign minister of Pakistan. In a statement on social media platform X, Dar said he met Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs earlier this week, where he was informed that the visa waiver has come into effect from July 25, 2025. The two countries signed a visa exemption agreement for diplomatic and official passports in the last week of July during the 12th session of the Pakistan-UAE Joint Ministerial Commission (JMC) in Abu Dhabi. "In my meeting at Abu Dhabi on June 24, 2025, with my brother Deputy Prime Minister and Foreign Minister of UAE, Sheikh Abdullah bin Zayed Al Nahyan, we agreed mutual visa waivers on diplomatic and official passports between our two brotherly countries and we both signed a Memorandum of Understanding to make this arrangement effective and operative after 30 days of the signing of the said MoU. "I am pleased to confirm that I have been informed by the UAE authorities that the visa waiver for diplomatic and official Pakistani passports entering the UAE has been activated, effective July 25, 2025, at all UAE airports,' Dar said. On the reciprocal basis, he added that similar arrangements have also been activated for UAE nationals at all Pakistani airports. The UAE and Pakistan have close diplomatic, cultural and trade ties. There are over 1.7 million Pakistanis living and working in the UAE. In addition, hundreds of thousands of tourists from Pakistan visit the Gulf country every year. Pakistan's Prime Minister Shehbaz Sharif has visited the UAE numerous times ever since he took office. Importantly, this waiver is only for diplomatic and official passport holders and it is not applicable for ordinary passports.
