Hire in Kuwait
Kuwait is an Arab nation located in western Asia with a rich culture and history. Many job opportunities are readily available in Kuwait for professionals from around the world. Kuwait mostly looks for foreign talent rather than regional talent in order to fuel its growth ambitions. The unemployment rate in Kuwait has been calculated at around 2.18% in 2020. However, there are some nations such as Georgia, Guinea-Bissau, Vietnam, Bangladesh, Ethiopia, Burkina Faso, Bhutan, and Guinea whose citizens are banned from working in Kuwait due to the absence of appropriate embassies in the nation.
Overview of Kuwait
Kuwait is one of the wealthiest nations in the world. It ranks as the fifth wealthiest nation in the world based on its gross national income per capita. The petroleum industry of Kuwait makes up to 43 percent of the total GDP of Kuwait and 70 percent of the nation's export gains.
Total population – 4,420,110
GDP – $118.271 billion (35.61 billion KWD)
The economy of Kuwait is primarily petroleum-based. The value of Kuwait's currency, the Kuwaiti dinar, is higher than any other currency in the world. Kuwait has a nominal GDP of $118.271 billion (35.61 billion KWD) with a per capita income of $28,199 (8,490.35 KWD). The PPP GDP of Kuwait is way higher than the nominal GDP. It is $303 billion (91.23 billion KWD) with a per capita income of $67,891 (20,441.08 KWD).
The market of Kuwait is dominated by the oil industry, which is followed by the steel manufacturing industry. Entrepreneurship is a booming skill in Kuwait, recorded with the recent rise in small business start-ups. Kuwait mainly exports mineral fuels, aircraft, spacecraft, organic chemicals, plastics, iron, steel, gems, precious metals, aluminum, copper, machinery, salt, sulfur, stone, and cement.
A brief glimpse of the industries
- The petroleum and natural gas industry of Kuwait has a strong foothold in the country. The oil reserves in Kuwait contribute 10 percent to the total oil reserves in the world. It also has huge natural gas reserves. This gives a boom to the transportation sector, manufacturing sector, sales sector, and a few more contributing sectors.
- The next biggest industry in Kuwait is the steel manufacturing industry. A major company based in Kuwait named the United Steel Industrial Company (KWT Steel) deals with all the steel manufacturing plants in the nation.
- Agriculture has been practiced in Kuwait for an exceptionally long time. Even though the country has extreme climatic conditions, the people of Kuwait have found ways to grow a good number of crops. Kuwait has a food self-sufficiency ratio of 49.5 percent.
- Kuwait is host to the world's oldest sovereign wealth fund. Its finance sector is working with many nations and has established its presence in the world market. Many job opportunities are available as this sector goes on increasing its bounds.
Cost of living in Kuwait
Although Kuwait is an extraordinarily rich nation, the cost of living here is very less compared to most other rich nations. It is one of the most liked countries in the world. A rise in occupancy rate has been observed in the past decade as more and more migrants come to Kuwait in search of job opportunities.
Salary structure for various roles
The table below highlights the average salaries that are offered to employees in Kuwait according to different sectors: -
Cost of Renting
The cost of renting in Kuwait is subjected to several factors such as the location of the housing facility, area, and size of the house, number of occupants, availability of amenities, etc.
Cost of living depending upon your location
The allocation of resources and the population of the location determine the cost of living in that location. Major Tier 1 cities have a higher cost of living than tier 3 cities. In general, Kuwait is very affordable, may it be a city of any tier.
- Cities categorized as Tier 1 cities are metropolitan cities like Al Ahmadi, Hawalli, As Salimiyah, etc.
- Cities categorized as Tier 2 cities are upcoming centers like Al Farwaniyah, Al Fahahil, Ar Rumaithiya, etc.
- Cities categorized as Tier 3 cities are locations with notable growth potential like Ad Dasmah, Al Mahbulah, Ash Shamiyah, etc.
Mentioned below are details regarding the cost of living in the leading Tier 1 and Tier 2 cities of Kuwait.
The top sectors that are expected to hire in 2021 in Kuwait are: -
Top skills in Kuwait
Kuwait has an oil industry-driven economy. Many private companies look for raw talent from over the world to contribute to expanding their recognition in the world. Besides manufacturing, mining, warehousing, and sales, Kuwait is on the lookout for designing, information technology, computer science, and medicinal professionals.
Major skills and areas which have witnessed a recent growth rate
- Computer programming
- Data analysis
Top skills city-wise occupation-wise
Every city in Kuwait is notable for a particular aspect of the economy. That is why opportunities are available for skilled individuals based on location. The cities of Kuwait create enthusiastic work opportunities for immigrants.
The cost of hiring is an important expense for any company. It is essential to spend appropriate amounts for various aspects to ensure one gets the best candidate for the role. Some of those aspects are –
- Orientation costs
- Time invested
- Resources used
- Personnel required
Employment laws in Kuwait
Kuwait has adequate employment laws. New laws are being added each year for a better employee experience in Kuwait. Many factors are considered in designing the laws of employment. Some of these aspects are stated below –
- Working hours
- End-of-service indemnities
- Annual leave
- Remuneration & Deductions
- Health Benefits
The laws and regulations that govern the employment relationships in Kuwait are based upon
- Contract of Employment
- Kuwait Trade Union Federation
- New Labor Law 2010
How Can Skuad Help You with Hiring in Kuwait?
In order to conduct hiring processes in Kuwait, you should be prepared for a lengthy process governed by various rules and legislations. This will require you to invest considerable time and resources that can affect your profitability in the long run. Skuad’s unified employment platform can help you conduct your recruitments in a highly efficient manner. Connect with Skuad to know more.