Wage increases tipped for 2014

UAE employers expected to fork out next year - but is it enough?

Knowledge story, The Knowledge

According to recent studies, UAE firms are expected to hike salaries next year. A period of economic stability and improved business means Aon Hewitt, the global talent, retirement and health solutions business of Aon plc, is predicting a five percent average raise across industries in 2013.

However there isn’t quite as much confidence in the UAE as its regional neighbours, with salaries expected to go up by six percent in Saudi Arabia, and 5.6 percent in Kuwait and Oman.

Nor will the news do much to calm Dubaians’ anxieties about the rising cost of living. A recent report by property broker CBRE reported an average hike in home rentals of 14 percent in the first six months of the year, and 30 percent in the 12 month period since last June.

Meanwhile, www.Bayt.com’s MENA Salary Survey reported that more than half of Dubai residents (53 percent) complained that their cost of living increased more than 15 percent in 2012.

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