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Duration Of Working Life In Cyprus Reaches 39 Years in 2023

According to recent data from Eurostat, the expected average duration of working life for individuals in Cyprus has reached 39 years in 2023, surpassing the European Union (EU) average of 36.9 years. This marks a notable increase from previous years and highlights significant trends in the workforce demographics of the region.

A Closer Look at the Numbers

The duration of working life varies considerably across the EU. The Netherlands, Sweden, and Denmark report the highest durations, with figures exceeding 40 years. Conversely, countries like Romania, Italy, and Croatia have some of the shortest working life spans, with Romania at the lowest end with 32.2 years.

In Cyprus, the gender disparity is evident. Men have an average working life of 41.6 years, while women have a shorter span at 36.3 years. This trend aligns with broader EU patterns where men typically have longer working lives compared to women. For instance, the longest working life for men in the EU is observed in the Netherlands (45.7 years), while for women, it is in Sweden (41.9 years).

Historical Trends and the Impact of COVID-19

The duration of working life has seen a general increase across the EU from 2013 to 2019, peaking at 35.9 years before a slight decline in 2020 due to the COVID-19 pandemic. However, the figures rebounded to pre-pandemic levels by 2021. In Cyprus, the pattern was similar, with the working life duration dipping in 2020 but recovering and surpassing previous levels by 2021.

Implications and Future Outlook

The increasing duration of working life in Cyprus reflects broader economic and social trends, including rising retirement ages, improved healthcare, and evolving employment practices. For businesses and policymakers, these statistics are crucial for planning and strategising around workforce development, retirement funding, and social security systems.

As the working life duration continues to extend, there are implications for both employers and employees. Companies must adapt to an ageing workforce by investing in continuous training and creating inclusive work environments that accommodate older employees. For workers, this trend underscores the importance of lifelong learning and career adaptability.

UAE Job Trends For 2025: High-Demand And Lucrative Roles Revealed

The UAE’s flourishing asset management sector, bolstered by rising investor interest, regulatory advancements, and a surge in Family Offices and Ultra High Net Worth Individuals (UHNWIs), is driving demand for banking and finance talent.

Roles in fundraising and institutional sales are particularly sought after, with professionals in these fields highly valued for their regional networks and industry expertise, according to Michael Page’s UAE 2025 Salary Guides. The comprehensive report, which includes insights from 17 industries, offers an overview of current hiring trends, salary benchmarks, and the recruitment challenges businesses face.

Banking And Finance In High Demand

The report highlights a significant need for compliance professionals, especially those with experience in Dubai Financial Services Authority (DFSA) and Financial Services Regulatory Authority (FSRA) regulations. Chief Compliance Officers and Money Laundering Reporting Officers (MLROs) are among the most lucrative roles in the sector. Jon Ede, Regional Director UAE at Michael Page, pointed out that in 2024, the UAE’s workforce grew by 9%, and the number of new companies increased by 14.5%, showing the success of the nation’s strategic initiatives.

Sales, Marketing, And IT Growth

The sales and marketing sector has seen steady growth, especially in B2B industries like technology, real estate, energy, and logistics. Roles such as Business Development Manager, Chief Commercial Officer, and Strategic Sales Director are in demand, with a premium placed on business development, key account management, and communication skills.

The IT sector, meanwhile, continues to evolve rapidly, with high demand for positions like Head of Software Development, Full-Stack Software Engineer, Agile Product Manager, Senior DevOps Engineer, and Digital Adoption Specialist. The report underscores the significant shift in the UAE talent market for digital professionals in recent years.

Navigating The Skills Shortage

The study also highlights the growing skills shortage, with businesses grappling to find candidates with the right expertise. A staggering 37% of business leaders reported challenges in finding skilled talent, while nearly a third (30%) struggled with employee retention. Nearly half (48%) of employers also cited aligning salary expectations with candidates as a key obstacle.

Ede suggests that businesses can overcome these challenges by offering competitive packages that include benefits, career development opportunities, and workplace incentives, positioning themselves as attractive employers in the competitive UAE job market.

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