In 2019, the United Arab Emirates produced approximately 4 million barrels of oil on a daily basis. Here, the term “oil” includes crude oil, shale oil, oil sands, and natural gas liquids (or NGLs). The UAE contributed about 35% of the world’s total oil production[caption id="attachment_345" align="alignnone" width="600"] Source: Statista, 2021[/caption]
Undoubtedly, the oil and gas sector is the biggest shareholder in the economy of the UAE. Up until June 2019 at least. It has been majorly impacted and disrupted too, because of the global pandemic.
BUT the good news is: this is a BIG opportunity for the UAE to increase employment among its nationals that currently add up to only 3.64% and 7.62% in the private and total workforce sectors respectively.
The Government has resorted to an ‘Emiratization’ of labor campaign, for which the growth of the digital economy plays a vital role. This strategy offers the following advantages to the UAE:
Here is an overview of the employment scenario among Emirati and Ex-patriate men and women by gender for the financial term 2018-19:
(Source: Federal Competitiveness & Statistics Authority data, 2019)
Coming back to the current scenario, the core points that should be focused on, if Emiratization is the Government’s vision, are: ● investment in technological hubs, and ● attracting foreign investment towards technology and artificial intelligence-based businesses.
A study by Accenture in 2018 concluded that investments in AI could increase the UAE’s economy by 1.6%, i.e., approximately $182 billion, by 2035. For this purpose, the 4th Industrial Revolution (or, Industry 4.0) brings a vast scope of expansion through industrial automation. However, the one drawback that still gets in the way is-reaching out to the vast count of Emiratis in this short span of time.
The one (and probably, the best) solution for this purpose is digitalization itself with digital marketing. What your concept of “Emiratization” is, what is your plan of action, how do you think you’re going to implement this plan, direct interaction with your audience, how will your strategy be beneficial to them-being transparent about it all will not just get you another Emirati employee, but also retain them in your company among others in the industry.
Besides constructing a comprehensive and user-friendly website, a few more factors are at play here. Namely, social media campaigns and SEO (or, search engine optimization). While social media provides an optimal platform to interact directly with anybody associated (or not associated) with your industry, it can also be utilized wisely for running ad campaigns. And using the right sort of keywords for your oil company will help you gain leads and capture the right target audience through SEO. Thus, you can expect to shape the future of your oil company in the UAE through strategic insights and outlooks, with the help of digital marketing.
Digital Piloto, June 10, 2021
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