It is hard to argue the fact that Dubai is one of the most luxurious places in the world to visit, with its world-class hotels and restaurants. Despite recent economic slow downs in retail across the world, luxury brands like those produced by The Rivoli Group and Bin Hendi Enterprises saw profit increases of 20-25% over last year’s sales.

Dubai was listed as the 4^th most luxurious market, just behind Paris, New York and London. Dubai was listed second worldwide in terms of global retailer presence, at 55%, beaten only by London which has 56% of the international brands. All of this bodes well for hospitality and tourism.

New luxury hotels have been appearing, and the airport is a major stimulant for the tourism industry in Dubai. MasterCard has once again endorsed travel to Dubai by sponsoring Summer Surprises 2010, which attracted 2.3 million visitors and over $3.37 billion in spending in 2009. MasterCard’s recent survey of consumer confidence reported that 88% of consumers in the UAE have plans to increase their recreational spending throughout the remainder of 2010.

In most other areas of the world, consumer spending is down and not expected to recover anytime soon. Tourism around the globe is at the lowest rates it has been in many years. Yet tourism and luxury retail in Dubai are rebounding faster than expected. Hospitality and tourism sectors should see rapid growth in the available number of open positions as the economy continues to improve, but candidate shortages may be a problem. This is good news for job seekers that want to break into the luxury hospitality and tourism industry in Dubai.

The vast amount of engineering programs offered at the many universities in Dubai should be proof enough of the future of engineering in this region. The local media in Dubai seems to announce another new company opening every day that has a full team of engineers. When you consider these facts, along with the enormous amount of infrastructure projects being planned for 2011, you can see how the opportunity for employment for engineers in Dubai is ripe for the taking now and throughout the coming year.

Over 56% of employers that were part of a survey conducted by the Job Index in April stated they would be hiring in the next quarter. Of those, telecommunications tops the list of sectors with the most planned job growth. Although many of these companies are looking to hire, severe candidate shortages may get in the way.

Many people left the emirate last year when the economy had its most significant challenges. The negative media attention surrounding the hard financial times has made people from overseas reluctant to relocate. What these people fail to understand is that compared to the global economy, Dubai is looking pretty good from a financial stability standpoint.

Proof of the stability and growth is in the sheer volume of new business headquarters being opened and planned, as well as relative stability of the banking industry. Telecommunications has been seen extremely fast paced growth, and the positions need to be filled. For engineers with a telecommunications background, getting on board with these companies looking for their expertise would be advantageous, as things will only go up from here.

According to Dr. Eli Abi Raced, the Managing Director of Eton Institute in a recent press release, the press is on to find top quality English speaking teachers to fulfill a vast amount of English as a second language, or ESL, positions throughout the UAE. The concern for vacancies has spurred Eton Institute to offer free training sessions for aspiring educators throughout the region.

Dr. Raced recently expressed his excitement at this offering that is the result of collaboration between Eton Institute and EDMI, both of which are leading learning institutions in Dubai. This news presents an extraordinary opportunity for educators throughout the region, but also proves the extent of need for qualified English speaking teachers from abroad.

The education sector in Dubai has been consistently showing growth as a steady stream of well-known universities from around the world have flocked to Dubai to set up a campus. The majority of these are part of Dubai International Academic City, a 20 million square foot campus that is the world’s one and only free zone of higher education.

Few people could argue that the UAE’s knowledge-based economy provides an amazing opportunity for students at all levels, and few areas of the world can compete with the educational standards for excellence schools in Dubai have proven to uphold. For teachers from abroad that are disappointed in the quality of education and the low standards to which schools are held, teaching in Dubai would be like a breath of fresh air.

The construction industry around the world has taken a devastating blow over the last year due to downed economies and declining numbers of new homebuyers. In the United States alone, over 2 million construction workers lost their jobs, and the majority of them still have not found work. While things may look grim for the construction industry world wide, Dubai may be a safe haven for those in the field.

For those not tied to their location and that are willing to consider relocation, Dubai is has a tremendous amount of opportunity for skilled tradesmen and site management personnel. According to a report released on July 21, 2010, the job outlook for the construction industry is more than favorable.  As it stands today, 90% of the workforce in Dubai is expatriates, and of those 45% are employed in the construction sector.

The Dubai Chamber of Commerce and Industry (DCC) expect the construction sector to boom next year. A large number of infrastructure and construction projects have already been awarded this year, with twice as many to be awarded by the end of 2010.  It is estimated that over $714.8 billion worth of projects are at the design phase right now.

The majority of the new opportunities will be in infrastructure, versus previously when real estate was the driving force in the construction market. This causes a tremendous amount of need for skilled and unskilled labor to man these projects, making now a perfect time to consider a career in Dubai.

Despite a shaky early start to 2010, July has brought a buzz of activity to the news revolving around the banking industry. A study done by the British University in Dubai showed proof that the Islamic banking model performs better than any other in the world during economic downtimes.

While banks in all other areas of the world were reporting losses, headlines boasting that “Bank Shares Stabilize Dubai Market” appeared all over the media. And it’s true; on July 4^th the bank sector index was the only value-adding sector, while all other sectors suffered serious market losses. This may seem surprising, but it shows that there is hope on the horizon for other sectors that can manage to weather the economic storm.

The banks are sharing the wealth with the economy. Standard Charter Bank launched an innovative mortgage facility to cater to the upper echelon of homebuyers by making loans of up to $5m available to non-residents. The only stipulation is that for property to be eligible for the financing it must have been, or be, built by the banks registered developers.

All of this looks quite favorable for those in the banking industry. While other countries around the world are laying-off or letting go of top industry professionals in light of financial losses, Dubai is still actively recruiting the best of the best. And what professional in the banking industry would not want to work for the only banking model in the world that profits in a downed global economy?

The new framework of the International Financial Reporting Standards for Small and Medium-sized Enterprises establishes a much needed set of accounting standards for businesses that previously did not have the type of transparency that larger corporations are required to make publically available. At the roundtable event on July 6, 2010, the benefits this has had on major accounting firms was discussed in earnest.

Probably the most significant impact this has on SMEs is the ability to provide lenders and investors with reliable and accurate records of their business’ finances. As lenders and investors have standardized proof of a growing SME’s risk and ability to repay, the economy will benefit as a whole. After the recent blows to the economy in Dubai, this is great news for everyone.

The impact this has on professionals in accounting industry is tremendous. The majority of small and medium sized business owners are left feeling confused at how to handle the huge undertaking of implementing the required changes in how they record and handle their finances. This provides a wealth of opportunities to both financial and accounting firms, as well as to individuals that are considering work in Dubai.

As a result of these changes, the majority of the major big name players in the Accounting industry are actively recruiting top notch professionals with a background and proven track record in accounting and related industries. If you have been considering a move to Dubai, now is the time to contact one of the major recruiting firms or established financial institutions in the Dubai market.