The number of high-flying professionals opting to settle in the Gulf region could increase as new figures show the extent to which executive pay levels there keep on rising.
While the fallout of the global economic crisis has prompted many employers to rein in executive pay, according to new figures released by Mercer, the Gulf region is bucking the trend.
Indeed, it is estimated that executives working in Gulf states such as those making up the United Arab Emirates will see their base salaries increase by as much as 7.5 per cent over the course of the year.
At the same time, employers in the region are expected to follow the lead of their counterparts elsewhere in the world and start offering their top workers a range of other incentives, such as deferred bonuses.
"Already we see financial services institutions and other leading firms across the Gulf re-thinking how to pay key executives and high potential talent as economic activity returns to stronger levels," explained Cameron Hannah, Mercer's Middle East market chief.
This comes soon after a report from the consultancy firm ECA revealed that Abu Dhabi has become more affordable, suggesting growing numbers of professionals could be tempted to make a move to the emirate.
Posted by Bob Brunskill