Current Situation: The United Arab Emirates registered subdued economic performance in recent years, partly due to cuts in oil output as part of OPEC agreements, continued corporate restructuring, reduced government investment and declining real estate prices. External factors also include a slowing global economy, geopolitical tensions and weaker energy demand & loss of tourism because of pandemic. Due to the COVID-19 pandemic, GDP growth contracted by -6.6% in 2020 (after reaching 1.7% in 2019). In 2020, the UAE’s economy, already impacted by low oil prices, suffered from the consequences of the COVID-19 pandemic. Oil production hit a near-decade low during the third quarter of 2020, weighing on government finances.
India has 2.6 million expatriates spread across the Kingdom of Saudi Arabia, the largest in any foreign country, and they annually remit a big amount of money to India. Indians working abroad sent $83 billion back home last year, and a bulk of it came from the UAE and Saudi Arabia. The amount is expected to fall by 23 per cent this year due to Covid-19, according to the World Bank.
Old Employees on Target: UAE is a global business hub. The majority of the employees are into the business sector. And this is the sector that is going to be hit hard due to the global downturn of Coronavirus spread. There would be a massive lay off happening. UAE will say, everything should happen with the permission of the employee. But on the ground, it is not going to happen. The old and semi-skilled employees are always at the receiving end. Many will be at the receiving end of the most severe impact of economic recession. As major industries close down, older & lesser skilled employees are among the first to be let go.
What to do: Online Learning programs have gone through a sea change in the past decades from being a core value-addition in your academics as a post-graduate degree to a more specific skill-set or sector-oriented to save your career. From the regular courses like MBA, B.com, B. Tech, BBA, B.Sc. with core specializations to the age of Executive/ Online Learning a lot have changed. Online Learning has changed the ball game altogether.
The biggest shift over the past five years has been the general outlook of the public towards Online/Distance courses. Companies are becoming more and more global with each passing day. To be aligned with the growing changes & such hectic competing Online/Distance degree in respective fields of their jobs are the perfect fit for the working professionals who wants to stay in the game & not lose their job due to this pandemic.
Do you need help? Do you need to pursue Distance/Online courses?
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