Executive Summary
As the US and European countries plunge into recession and governments around the
world scramble to avert a global financial meltdown, the Middle East remains among
the few bright spots in the world economy. The region continues to enjoy a robust
pace of growth, thanks to the high price of oil. This has resulted in talent shortages
across all sectors and yet another year of record salary increases.
Based on GulfTalent.com’s survey of
29,000 professionals, private sector
salaries across the Gulf rose by an
average of 11.4% over the 12-month
period to August 2008, sharply higher
than in previous years.
The UAE registered the region’s
biggest average pay rise at 13.6%, while
Saudi Arabia saw the lowest increase at
9.8%, though still high by historical
standards.
All six markets saw pay increases accelerate relative to last year. The majority of
these, however, are below the forecast rates of inflation for 2008, suggesting
diminishing net disposable incomes. A notable exception is Bahrain, where the
average salary increase of 10.5% is marginally higher than the 9.0% inflation rate
forecast for the country this year.
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For Reading more details of this research by GULFTALENT.COM please use the following link
http://www.pakrealestatetimes.com/showthread.php?tid=1558
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