24/05/2017 05:36 AST
A study ranking countries in Middle East and North African region based on their ability to attract, grow, and retain talent revealed that the next Arab generation must develop talent to compete in a global digital economy.
INSEAD Business School, Google and the Center for Economic Growth released on Sunday this year’s edition of the Middle East and North Africa Talent Competitiveness Index (MTCI), a study ranking countries in the region based on their ability to attract, grow, and retain talent.
The countries were ranked based on the level of readiness for the future of work: well positioned (UAE, Qatar and Saudi Arabia, Bahrain) mixed readiness (Kuwait and Jordan), less well positioned (Oman, Lebanon and Tunisia) and low readiness (Egypt, Morocco and Algeria).
The MTCI provides an in-depth look at Arab countries’ performance and lists a series of recommendations that would help improve their ranking, with investment in education and digital skills at the forefront. Embracing technology, enabling SMEs and providing affordable and high-quality access to the Internet were also one of the key recommendations that were found to improve talent competitiveness on a global and regional scale.
Dr. Bruno Lanvin, Executive Director, Global Indices, INSEAD, said “from a demographic point of view, the MENA region is younger than the rest of the world, which is both a blessing and a challenge. On one hand there is energy, creativity and ambition in the new generation; on the other hand creating enough jobs for them is an urgent necessity. Technology is a critical dimension of this challenge as the jobs of the future need to be thought of in areas such as artificial intelligence, virtual and augmented reality, and life-long continuous upskilling. Now is the time for governments and business in MENA to implement the required policies to take advantage of the opportunities at hand to support entrepreneurship, competitiveness and innovation across the whole region.”
Selim Eddé, Head of Public Policy at Google MENA, said: “The Middle East and North Africa has immense potential in its talent and young population. Major factors such as embracing technology, enabling the SME ecosystem to thrive, and providing equal access and connectivity, are key ingredients that would help Arab countries leverage the fourth industrial revolution with the many opportunities that lie within the region.”
Patricia McCall, Executive Director, Centre for Economic Growth, commented, “with the highest youth unemployment rates in the world, our region’s biggest economic challenge is the creation of productive and sustainable jobs for our youth. A key requirement will therefore be developing the talent of the next generation to be competitive for the global economy. This important report enables leaders from the public and private sector to take the targeted actions required in order to achieve this strategic goal.”
The MENA region has invested considerably in education to improve competitiveness, with an average spend equal to 18% of total government spending (versus a global average of 14%). MENA faces a common context: high youth bulge (2x global average), 30% employment in public sector (vs 10% globally), rigid labor market regulations and a gender gap (men 3x more likely to participate in workforce than women). Furthermore, the MENA digital economy stands at 4% of GDP, half of what the US is at (8%) and lags behind the EU (6%).
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