Saudi Arabia continues to lead the region in salary increases, according to a GCC-wide survey of 600 multi-national companies and locally-owned conglomerates by Aon, a leading global professional services firm providing a broad range of risk, retirement, and health solutions.
Robert Richter, GCC Compensation Survey Manager, Aon Hewitt Middle East, said: Despite lower than projected salary increases this year, there is optimism in the region over KSA Vision 2030 and Expo 2020 with the potential for thriving new industries and a significant level of job creation in the region as a whole. With the stabilisation of oil prices, we can also expect the economy to stabilise and strengthen in the coming years.
While employers choose to remain conservative in the projected salary increase of 2018, we may witness an upside in the actual salary increase, thanks to an improving economic situation as a result of increased government spending, stabilized oil prices, and the effects of economic transformation programs.
Source Credit: Khaleej Times
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