The human resources consultancy said wages across the Middle East were expected to increase 3.8 per cent this year from 4.5 per cent last year
Academics at Birmingham University voted today to boycott its new campus in Dubai in protest at the jailing of…191 Views | the publication reaches you by | Dubai Today
In the UAE, the firm said expected inflation of 4.6 per cent would offset pay increases of 4.1 per cent, meaning real wages would actually fall by 0.5 per cent.
Similarly in Saudi Arabia, salaries were expected to increase 3.2 per cent this year, barely ahead of the 3.1 per cent inflation rate, meaning a real wage increase of just 0.1 per cent.
Salaries in the kingdom increased 5 per cent last year, but 0.8 per cent in real wage terms, according to the firm.
“Employers in Saudi and UAE are bracing for a challenging time as they battle with managing business costs and meeting the expectations of disgruntled employees,” Korn Ferry Hay Group said.
The introduction of VAT is placing additional pressure on businesses as they seek to ensure they are compliant with the law, while the costs of everyday goods like food, fuel and utilities are increasing for consumers.
Do you have information you want to reach our readers?
The global freelancing market is set to grow $20bn by 2020. Where does the market stand here in…