In a recent report by CEOWorld magazine, the UnUAE has emerged as the top destination for high employee salaries in the Middle East and Arab World. With an average gross monthly wage of $3,663 (Dh13,400), the UAE secures the 18th spot globally, outshining numerous advanced economies.
Qatar follows closely behind in the Gulf Cooperation Council (GCC) region with monthly wages averaging $3,168, trailed by Saudi Arabia ($1,888), Kuwait ($1,854), Bahrain ($1,728), and Oman ($1,626).
The UAE’s attractive remuneration packages have led to a significant influx of professionals and workers from various parts of the world. Notably, the country has become increasingly appealing to top-tier talent from Europe, with professionals drawn by tax-free salaries, safety, security, and compensation packages comparable to those in advanced Western nations.
A study by Mercer forecasts a four percent average increase in salaries within the UAE this year. However, Andrew El Zein, principal for careers in the Mena region at Mercer, points out that while the UAE remains highly attractive to foreign workers, companies are facing intensified competition both domestically and regionally to recruit and retain talent.
According to the “Salary Guide UAE 2024” report by Cooper Fitch, a significant majority of UAE firms (53 percent) plan to raise employee salaries in 2024, with nearly 40 percent aiming for increases of up to 5 percent.
Among GCC countries, the UAE is followed by Israel ($3,608; Dh13,200), Qatar ($3,168), Saudi Arabia ($1,888), Kuwait ($1,854), Bahrain ($1,728), Morocco ($1,657), and Oman ($1,626).
Globally, European countries dominate the top spots for average wages, led by Switzerland, while African nations have the lowest monthly salaries.