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Arabian Business
24 minutes ago
- Arabian Business
Why Gen Z in the UAE is rethinking retirement
The classic career arc – decades of work leading to a single, distant retirement, is being reconsidered by a new generation in the UAE. While the concept of ' micro-retirements ' is sparking interest among digitally native Gen Z professionals, it's important to note that this is not yet a widespread movement, but rather an emerging trend that aligns with a growing appetite for flexibility and well-being. Forget the outdated idea that personal fulfillment must be postponed until retirement. The UAE's young professionals, known for their ambition and global outlook, are increasingly drawn to the idea of weaving shorter, intentional breaks into their careers. These pauses, for travel, learning, creative projects, or simply to recharge are becoming part of a broader conversation about what work-life balance should look like. This shift reflects a global change in attitudes toward mental health and holistic living. In the UAE, a hub of innovation and opportunity, there's a palpable cultural shift toward valuing flexibility and personal growth throughout one's working life, rather than waiting for a single, far-off reward. Global inspiration, local opportunity The concept of micro-retirement isn't unique to the Emirates. Around the world, professionals are exploring the idea of taking sabbaticals or shorter, more frequent breaks. But the UAE's progressive policies, thriving gig economy and embrace of flexible work arrangements make it a fertile ground for this trend to take root. With its attractive tax regime, robust digital infrastructure and access to international markets, the UAE is well positioned to support a new generation of professionals who want to integrate career breaks into their life plans. The nation's appeal to global talent and its entrepreneurial spirit further enable this kind of flexibility. Understanding micro-retirement: More than just a break At its core, micro-retirement is about planning and taking shorter career pauses, typically ranging from a few months to a year for personal enrichment. This could mean pursuing further education, travelling, working on passion projects, or prioritising well-being. This approach challenges the long-held belief that significant personal pursuits must wait until traditional retirement. For Gen Z in the UAE, it's about creating a more integrated lifestyle, where work and personal life are interwoven throughout the career journey. The UAE's enabling ecosystem The UAE's economic and regulatory environment is a significant advantage for those considering micro-retirements. The absence of capital gains tax makes investment returns more attractive, while easy access to global investment platforms and a growing number of regional IPOs empower individuals to grow their wealth efficiently. This environment allows young professionals to plan for career breaks without necessarily relying on sporadic income or depleting their savings. By leveraging the UAE's robust financial markets, they can build diversified portfolios that provide both short-term liquidity for breaks and long-term growth for future security. Strategising your finances for micro-retirement Prudent financial planning is essential for anyone considering a micro-retirement. Without a clear roadmap, the risk of financial strain increases. Here are some key steps for building a solid financial foundation in the UAE: Define clear financial milestones: Calculate the funds needed for living expenses, travel, healthcare, and contingency savings. For a 12-month break, this could range from AED 75,000 to AED 100,000, depending on lifestyle. Adopt a dual investment strategy: Balance short-term needs with long-term goals. A diversified portfolio ensures accessible funds for the near term and sustained growth for the future. Automate savings and investments: Consistency is key. Regular, automated transfers to savings and investment accounts leverage compounding and reduce market timing risks. Leverage the UAE's financial infrastructure: User-friendly digital trading platforms make it easy to invest in global markets, even with small initial capital. View micro-retirement as a complement: Micro-retirement is not a replacement for traditional retirement planning, but an integrated component of a broader financial strategy. The future landscape For the UAE's ambitious Gen Z professionals, the possibility of crafting a career with strategically placed breaks is becoming more realistic. While micro-retirement is not yet a mass behaviour, there are clear signs of growing interest and a supportive environment for this kind of lifestyle. The traditional question of ' When will you retire?' is evolving into a more empowering inquiry: ' How can I integrate periods of personal growth and rejuvenation into my career journey? ' In a rapidly changing world, the ability to step back, recharge, and pursue personal passions is increasingly valuable. The UAE, with its dynamic economy and forward-thinking policies, is ideally positioned to be a leading hub for this evolving work paradigm. For those who plan diligently, invest wisely, and prioritise their overall well-being, the vision of a fulfilling life, not just a fulfilling retirement is within reach.


Arabian Business
24 minutes ago
- Arabian Business
Dubai taxi trips hit 60m in H1 2025 as passenger numbers top 103m
Dubai's taxi sector recorded 7 per cent growth in the first half of 2025 compared to the same period last year, according to the Roads and Transport Authority (RTA). The number of taxi trips rose to 59.5m, up from 55.7m in H1 2024, while total passengers increased from 97m to 103.5m. Hala Taxi's market share also increased to 41.3 per cent of total taxi trips in H1 2025, up from 40.3 per cent in H1 2024—a rise of 2.5 per cent growth in share. Dubai taxi journeys Over the same period, the number of active drivers in the sector grew from about 13,000 to nearly 14,000. Adel Shakri, Director of Planning and Business Development at the Public Transport Agency, said the results reflect 'the emirate's economic vibrancy, which has cemented its position as a global destination for investment and tourism.' The sector also achieved record growth in e-hailing services, hourly vehicle rental, and Hala Taxi bookings. In H1 2024, around 70 per cent of Hala Taxi trips had an estimated arrival time of under four minutes In H1 2025, 74 per cent of trips were under 3.5 minutes Shakri said the improvements highlight the sector's commitment to service efficiency and customer satisfaction. With rising demand, faster response times, and an expanding driver base, Dubai's taxi sector continues to strengthen its role in supporting the emirate's transport infrastructure and tourism economy.


Zawya
2 hours ago
- Zawya
Dubai's taxi sector records 7% growth in trips in first half of 2025
Dubai's taxi sector posted growth of 7% in the first half of 2025 compared with the same period in 2024. Providing further details, Adel Shakri, Director of Planning and Business Development at the Public Transport Agency, Dubai's Roads and Transport Authority (RTA), said, 'This vital sector has seen steady growth in recent years. The total number of trips reached 59.5 million in H1 2025, rising from 55.7 million in H1 2024 and reflecting 7% growth, while the number of passengers rose to 103.5 million from 97 million over the same periods.' Hala Taxi's market share also increased to 41.3% of total taxi trips in H1 2025, up from 40.3% in H1 2024—a rise of 2.5% growth in share. Over the same period, the number of active drivers in the sector grew from about 13,000 to nearly 14,000. Shakri confirmed that the sector also achieved record growth across e-hailing services, hourly vehicle rental, and Hala Taxi. 'The comparative figures for H1 2025 underscore the emirate's economic vibrancy, which has cemented its position as a global destination for investment and tourism,' he commented. Shakri concluded, 'Service efficiency likewise improved: in H1 2024, approximately 70% of Hala Taxi trips recorded an estimated vehicle arrival time of under four minutes; in H1 2025, about 74% of trips were under 3.5 minutes.'