PricewaterhouseCoopers plans to hire 250 people in Middle East
January, 24th 2011
PricewaterhouseCoopers plans to hire 250 people in the Middle East within six months and expects revenues from developing countries to account for double the current total in five years, chairman Dennis Nally said.
The Middle East will be one of our most significant markets for investment in terms of talent acquisition, Nally said in an interview at a conference in Riyadh on Sunday. We see our growth coming from these markets, he said.
The company spent $50m in the Middle East region over the past eighteen months and expects to spend a similar amount in the near future, he said. PricewaterhouseCoopers, which earns 20 percent of revenue from developing countries today, expects that figure to double to 40 percent by 2016, Nally said.
Gulf Arab countries, including Saudi Arabia, the United Arab Emirates and Kuwait, pump more than 20 percent of the worlds crude oil and are spending billions of dollars to diversify their economies. The investments are boosting demand for financial advice.
The economic outlook for the Middle East is very positive and PricewaterhouseCoopers expects growth in Saudi Arabia, the biggest Arab economy, Jordan and Egypt, Nally said.