Reduced Salary Packages For Expats In UAE

Companies in the UAE have reduced Expat salary packages after the cost of living has gone down

London, UK (Pryce Warner International) August 3rd, 2011 – Expats in the UAE will no longer receive the same level of salary packages when moving due to level of highly qualified individuals already in the region and a decrease in the overall cost of living.

Employers are also said to be more risk averse in the present climate and want to ensure that any foreigners hired are committed to staying in the region over the long term. The UAE has also become a much more desirable location to move to recently, meaning there is reduced need for employers to entice Expats with overly generous salary packages.

However, some analysts are stating that Expat packages have not changed significantly over the past couple of years.

They point to the fact that there are still many new Expats arriving and many of them enjoy the same range of benefits; housing, schools, transport etc that they always have. It is only in the case of some companies that they are offering a lower housing allowance as the rental market has depreciated over the past few years.

In addition to this, analysts have pointed out that many of these packages are now also going to UAE nationals as the local talent pool is growing in terms of size and ability.

David Harra, a Senior Market & Investment Analyst with Pryce Warner International, a financial services provider for Expats, commented: “The UAE is one of the most sought-after destinations among Expats. With no income tax and excellent weather and social care, it can be an ideal place for Expats to relocate. However the talent pool in the region is growing strongly and some Expats may have to accept lower packages in order to get into the UAE. Should this be the case, individuals should always ensure they speak to independent financial consultants before moving to ensure that any and all methods for increasing their income and assets can be taken advantage of.”

Pryce Warner International Group provide International Asset & Investment Management, Independent Financial Advice & QROPS Overseas Pensions.

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By: Aneil Fatania
Financial Editor
Pryce Warner International Group
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