It was revealed that employees in the UAE are showing a high willingness to make lifestyle sacrifices to continue residing in the country. This comes despite the fact that savings may not be substantial, but the income is sufficient to maintain their current lifestyles.
The survey by global recruitment agency Robert Half highlights the UAE’s growing appeal as a prime destination for professionals, investors, and high net-worth individuals. This surge in popularity is partly attributed to the nation’s successful management of the Covid-19 pandemic, evident in the increased tourist influx in Dubai, a boom in real estate investments, and a significant influx of millionaires in the past year.
Furthermore, innovative residency schemes such as the Golden Visa, retirement visa, and freelance visa have gained popularity. These initiatives reflect the government’s strategy to attract and retain top talent, including the introduction of a Golden Visa specifically for 100,000 coders.
Dubai and Abu Dhabi have recently been ranked among the top 5 global destinations for digital nomads by Savills, a global real estate consultancy, with Dubai leading the list.
The survey by Robert Half also noted a trend of financial and institutional brokers relocating to Dubai for tax-free income while maintaining European clients. This shift is increasing the demand for back-office functions in the region.
However, the survey revealed changes in the approach to perks and benefits. Employers are moving from percentage-based allowances to fixed lump sums to stabilize benefits expenses. Additionally, while family benefits are still offered, there may be reductions in childcare and school fee allowances for new employees.
The research, carried out in July 2023, involved 500 professionals across various sectors in the UAE. Findings indicated a 2 percent average salary increase year-on-year in professional services, but most roles saw salary growth lagging behind Dubai’s inflation rate. Projections show varied salary increases across sectors, with the highest in administration, HR, and business support roles.
