Business confidence among members of the Gulf Cooperation Council (GCC) is faring well, a new report from human resources consultancy group Mercer reveals.
According to the organisation, 42 per cent of GCC firms are planning to increase the size of their workforce in 2009 in response to the strong business environment in the Middle East.
In contrast to results from other regions, more than a third (34 per cent) of businesses in GCC countries had proposed pay increases in either January or April this year.
Commenting on the findings, Bassam Gazal, who leads Mercer's survey team in Dubai, said: "We had noticed this quiet but determined confidence in firms across the region and the global results highlight that the GCC economies continue to defy the global trends in core HR-related areas."
This resilience may make buying commercial property in Dubai an attractive option for businesses looking to expand.
Mercer has also this month revealed that 73 per cent of companies in the GCC have set targets at levels equal to or above 2008 growth.