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Amidst Recession, Canadians Eye Dubai for Employment

TORONTO — Even as the pink slips have become a norm across the world in the downturn economy, some Canadians have pinned their hope on Dubai, believing that the global recession would not affect the oil-rich UAE as much as the rest of the world.

Many of the immigrants who moved to Canada from Dubai have started scouting for jobs back in the Middle East with a hope to command a bigger paycheck now with North American work experience.

Ashish Pradhan, a chef with over 15 years experience, has alerted his former colleagues in Dubai too keep a look out for a job for him. He has been job-hunting visiting job sites online to look for a job in Dubai, 
Abu Dhabi or Sharjah.

“I have worked there in the past and know the ins and out of what people like,” Pradhan said in an interview.

Arpan Khurana, Human Resource Manager in one of the multinationals here in Toronto, made a two-week trip to Dubai giving job interviews. He hasn’t got a pink slip but he was among the millions of Canadians who went through uncertain times with the economy graph on the downturn.

“I looked all over the world map and found Dubai to be the best place to relocate,” said Khurana who had immigrated to Canada from India 
several years ago.

“Dubai is centrally located in the world. It’s close to India. It has great weather and a very multi cultural society,” Khurana said after his two-week visit to Dubai where he 
had job interviews.

Dubai, the tiny emirate the size of Rhode Island, is packed with more of the world’s biggest attractions than one could imagine. World’s tallest building is one of the attractions.

Khurana was hired but the spiralling housing prices made him rethink his decision. He said that he would have taken up the job offer had it come along with accommodation. He said that the availability of domestic help at economical rates was also an incentive for him and his wife Preeti Khurana 
to relocate from Canada.

The real estate prices in Dubai have shot through the roof, making it economically unviable for many expatriates to find reasonable 
priced accommodation.

Annette Dubois, a medical technician also sent her resume to a few hospitals across UAE looking for job. “Dubai has been growing continuously so rapidly that it’s hard to believe that the economic crisis would hit 
this nation,” she said.

However, telecom engineer Adnan Khan believes that Dubai has been hit by recession as badly as the United States. Khan was laid off in August by Canada’s largest telecom company called Bell. He scouted for jobs for three months before he unsuccessfully tried in Gulf States, including Dubai, 
Kuwait and even Muscat.

“The recession is all over,” Khan said in an email interview.

News reports say that Real estate prices have dropped up to 30 per cent and Dubai had to take a $10 billion loan from Abu Dhabi to pay off creditors.

Khurana said that many Dubai based companies have positions but they have not advertised it online. The Internet advertising is still picking up in the region, especially for job hunting.

Meanwhile, Canadians continue to get pink slips from work despite the tall assurances by the government. And, the stock markets continue to plunge. Canada is home to 
1.3 million jobless people.

On Tuesday, Prime Minister Stephen Harper said that Canada would pull out of global recession faster than any other nation. But he said that a stable American economy was very important for the Canadians before they can get the advantage of the $40billion stimulus package.

“We will not turn the corner on this global recession until the American financial sector crisis is fixed,” Harper told a meeting of business leaders in Brampton city. “Our stimulus plan will help us to sustain economic activity and make transitions but it cannot fix the problem of the global 
financial system.”

Canada was the last advanced country to succumb to the economic downturn, the prime minister said, and will come out of it “faster than anyone and stronger than ever.’’ Canada has been hit hard already, but not as hard as other countries, he added.

The prime minister said that Canada has the strongest banking system in the world, a record of low and stable inflation, a highly educated and skilled workforce and a diverse economy.

“The American economy has been hit twice as hard as Canada. The same is true for the Europeans. The Japanese have been hit four times 
as hard,” Harper said.

“You should know that Canada is receiving rare recognition these days in the United States and around the world for these strengths,” he said. Opposition has accused Harper 
of misleading the nation.

“Canadians are losing jobs at twice the rate of the Americans right now, and it’s not good enough to go to Canadians and sing them happy songs,” Liberal Leader Michael Ignatieff fumed. “How dare he deliver a positive message in a city where jobs are being lost?”

Meanwhile, Canada’s Central Bank has dropped the prime rate of interest by another 50 points to take it to historic low of 2.5 per cent. Buoyed by the low interest rate, the real estate prices have started a rebound. Canada was always known for its tight and conservative banking system. That has 
now come in for praise. The World Economic Forum has ranked Canada at the top for soundness of banks. Canada’s big five lenders all reported healthy profits in their most recent quarter, generally beating analysts’ expectations. Financial papers around the globe are running headlines such as “Canada banks prove envy of the world.” While the US-based banks have lost over $37 billion, Canadian banks have raked in $18.5 billion profit in 2008. Canadian officials are confident of making a quick and sound comeback. Harper quoted billionaire investor Warren Buffett, saying, “It is only when the tide goes out that you know who was swimming naked.”