The latest strategic insights from Executive Search firm Boyden have revealed that the Middle East and North Africa will become one of the fastest growing regions on the planet in terms of economic growth by 2025.
With over 70 years of experience and operating within 44 countries worldwide, experts at Boyden believe that finding the right executives to lead the innovation of tomorrow will be the key driver to supporting this exceptional economic growth.
Magdy El Zein, Managing Director at Boyden MENA, said:
“The successful development of key talent at an executive level is essential for the regions to innovate and grow. The EMEA market is maturing all the time, but we must continue to identify the leaders of tomorrow to fulfil this accelerated growth. C-suite talent acquisition, leadership and management are all hugely important factors to consider when we discuss predicted economic growth.
He continues:
“These positive insights from Boyden reflect the findings of a new report by the Association of Executive Search and Leadership Consultants (AESC), who reported a record-breaking year for the executive search industry in 2014. The industry experienced a great performance last year and we expect similar results this year.”
Globally there was an annual rise of2.5% in the number of executive searches started in 2014, while the value of individual search assignments rose by 2.9%. The EMEA region was the second biggest market with 33.4% share, topped only by the USA with 43% of the market.
In terms of global economic trends, Industry held the largest share of the market, followed by Financial Services and Consumer Products.
The UAE is the highest-ranking Arabian country in the World Economic Forum’s Global Competitiveness Report, ranking it 12th out of 144 countries. It was ranked as high as 7th in the “Labour Market Efficiency”, and as high as 3rd internationally for its capacity to attract talent.
Magdy El Zein, continues:
“With Boyden’s offices based at the heart of the Middle East and North Africa, with offices in Dubai and Cairo, we have the local knowledge to support a number of prominent projects which contributed to last year’s growth and will drive future economies.
The success of the past year has also brought growth for the Boyden MENA team itself, with an increase in staff numbers and expansions at the Dubai and Cairo offices to embrace new opportunities in the East African market. A noted appointment to the team is Nessrine Salah as Head of Research, who will focus on interpreting human capital needs.
Magdy El Zein finishes by saying:
“Internal growth at Boyden MENA gives us a much stronger footprint to support organisations also looking to grow and innovate in the region. With expertise in most sectors we’re a gateway to finding the right talent.”