IT is no secret that the GCC is witnessing continued economic growth, despite regional turbulences and oil price decreases. Qatar's Minister of Finance Ali Shareef Al Emadi stated that Gulf economies are projected to deliver a strong growth rate of about 5 percent in 2015. International credit issuer Coface Group also stated that the UAE will be the second fastest growing economy in the MENA region for the second consecutive year in 2015, after Qatar. With solid diversification efforts and continued infrastructure investments, GCC states' wise policies have enabled them to withstand the storm, and they remain to be viewed as a safe haven for investors worldwide. Dubai's 2020 Expo winning bid, for instance, has created 300,000 new jobs across different sectors. Taking all that into consideration, this region will remain as one of the most attractive geographic locations in the world for people looking for new, secure job opportunities, and for a comfortable lifestyle. Despite all the above, there is still a major concern that investors and businesses have. There are many vacancies and opportunities, but there is still a clear gap in skillsets needed. Omar K. Alghanim, Chief Executive Officer of Alghanim Industries, recently commented on this issue, stating that “In our region, we are so caught up with getting the degree but are not teaching youth how to think.” As these markets continue to grow, it is essential to take a step back, and to look at real industry needs, and to assess how to equip people with skillsets necessary to meet those requirements. Higher education institutions in the Gulf are aware of this need, and many have taken active steps to address them. According to leading MBA resource QS topmba.com, business schools in the Middle East are in the very early stages of development. However, countries such as Qatar and the UAE have made significant investments to ensure that they provide their markets with qualified graduates. Dubai's Knowledge Village, for instance, established in 2003, hosts a range of international business schools. Furthermore, the London Business School has a campus in Dubai as well. The American University of Sharjah also boasts the title of “the best private university in the Gulf region offering an MBA degree” by Forbes Middle East. In addition to offering graduate degrees in Business Administration and Accounting, the university has launched an Executive Education and Consulting program to support employees in furthering their careers and to provide employers with training programs for their teams. Areas that the program focuses on include strategic management, the art of leadership and emotional intelligence. A number of institutions are investing in these types of executive learning programs, as they come to realize the importance of enhancing their employees' skills and in ensuring that they are always relevant to current industry needs. AUS has provided customized programs to the likes of DP World, Price Waterhouse Coopers, RTA, KPMG, Etisalat, Securities and Commodities Authority and many more. Despite the aforementioned efforts, the GCC, as a whole still has significant work to do when it comes to meeting marketplace gaps. However, this is a collective responsibility of governments, higher education institutions, the private sector and employees themselves. Judging by government initiatives and the continued attraction of high-level international organizations, in addition to the establishment of prime local educational institutions, things are looking very optimistic for the GCC. * Dr. Robert Grosse, Professor Economics and Dean of the School of Business Administration at American University of Sharjah.
