Salary Levels of the Gulf: The Nations Boom and The Workers Gloom
When doing research as to Salary levels in Dubai, or
salary levels in any of the other Gulf countries, there is a lot
to consider. The glamour stories of the Gulf boom are renowned
worldwide for their grandeur, their opulence and their impact on
the world. Dubai in the UAE leading the fairytale with the likes
of Qatar, Bahrain, Oman and the other GCC countries continuing
on the same path. Countries that only ten years ago, had limited
popularity in international circles.
Whereas more recently they
have become synonymous with world class facilities of varying
kinds!
A boom in the region has generated fortunes for those
wealthy enough to take advantage of the growth or wise enough to
take a chance and get in on the varying opportunities early on!
Those fortunate enough not to be tied down to a salary in the
Gulf!
However there is a little untold story here, those of the
average worker. The employed and salaried individual that did
not have the foresight to jump on any bandwagon early enough.
It is true that average salaries in the Gulf have gone up on
average close to 15% in 2006. However the cost of living in the
same respect had hone up 24%. The inflation year on year is
increasing at dizzying levels. Even for those jumping from job
to job in order to take advantage of a salary increase in the
Gulf, inflation is still getting the better of them. Those brave
enough to stay loyal to their company are yet to feel the love
of their company by offering a salary increase worthy of Dubai’s
inflation or the Gulf’s inflation!
According to a survey
conducted by “Arabian Business” more than two thirds of workers
in the GCC consider they are not paid well. Bahrain alone, a
country boasting the highest loyalty level in the region or in
the world for that matter, shows that more than half of the
people in the country are looking for a change!
How long can the
average worker in the Gulf sustain this lifestyle that is
currently spiraling out of control! Does the answer really lie
in the Gulf salary levels, or does it lie in the individuals
taking a chance and getting in on the action through a business
or an investment? The question is, if they are living beyond
their means now, how can they ever get into any major
investments!
What will happen to the majority of the workforce
that come here for that golden opportunity?
Consider this; a
large majority of the labor in the Gulf is from the Indian
subcontinent. An area that is currently going through its own
major economic boom. One that would have some analysts calling
it “the rise of an economic superpower”! The salary they get in
the Gulf is not only taking them less and less, but they are
trying to send money home to a currency that has gone up in
value because unlike the Gulf currencies, it is not pegged to a
weakening Dollar! According to GFI- Gulf Financial Insider, more
than 10% of Indians send over 50% of their salary home.
It has
even been found that in some cases, Indian recruiters have been
coming to places like Dubai and Bahrain to recruit a skilled
Indian workforce! Currently propositions to them although
improved, are not tempting enough, with the taxes there and the
salary levels, however if we continue down the path of inflation
and low salary levels that we are currently facing, we may see a
mass migration of the workforce that no longer see a need to be
in the Gulf!
The question is; what happens to the economy
then?
About the Author: Muneer Al-Busaidi Is A Successful Internet Marketer and is Helping Empower People in the Gulf Using Success University.
Join The As Seen On TV Business Opportunity In Bahrain, or Use It to Make Money In Dubai.
Wherever You Are, Your Decisions Today Will Affect Your Outcome Tomorrow & The Best Way To Predict Your Future Is To Create It!
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