https://arab.news/ggpza
For decades, the world’s most ambitious young professionals have made a beeline for a familiar set of destinations: New York, London, Silicon Valley, Boston, Research Triangle Park in North Carolina and a handful of other global hubs. These places promised opportunity, job satisfaction and high-growth careers. Today, that promise is fading. A slowdown in white-collar hiring across the West, being felt most acutely by tech industry executives in the US, has opened a rare window of opportunity for Gulf Arab states. This is the moment the Gulf Cooperation Council can win the global talent war.
Recent reports in The Wall Street Journal paint a grim picture. Even graduates from elite US business schools — the traditional providers of executives, consultants and financiers — are taking months to land job offers. At Duke University’s Fuqua School of Business, 21 percent of master’s graduates were still unemployed three months after graduation. At the University of Michigan’s Ross School of Business, the figure stood at 15 percent, compared with just 4 percent in 2019. Georgetown University reported that fully a quarter of its MBA class was still searching for work after three months. These are sobering numbers for institutions that once served as launchpads for lucrative careers.
