FINANCIAL NEWS

Report says UAE to see 5.1% rise in 2013’s salaries

13 Nov 2012

(MENAFN) Consultants Aon Hewitt said in a report that in the coming year, salaries in the UAE are forecasted to grow 5.1 percent, reported Arabian Business.

The largest rise, expected to reach 8.1 percent, will be obtained by employees in the banking sector, whereas those working in the transportation, logistics and shipping sector will receive a salary raise of 2.5 percent.

1.3 percent of UAE firms have predicted to witness a pay freeze in 2013, compared with 4.1 percent in 2011.

Many organizations have been connecting salary hikes to performance, which is seen as a healthy trend and shows the growing maturity level of the market.

The report noted that average salaries across 9 countries in the Middle East would grow 6.08 percent.

It is worth noting that countries in the Gulf Cooperation Council
(GCC) are expected to post a combined gross domestic product (GDP) growth of 5.5 percent this year and 3.7 percent next year, according to the International Monetary Fund (IMF).

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