Wage hike in the GCC to average 6.3% in 2014

Salaries in the Gulf Cooperation Council (GCC) countries are forecast to rise by 6.3 per cent this year, up from 5.9 per cent in 2012, the latest GulfTalent survey showed.

Employees in Oman are likely to get the highest increase at 8 per cent. In the UAE, increases will average 5.9 per cent, slightly higher than last year’s 5.3 per cent.

However, GulfTalent said a number of “uncertainties” could impact the GCC economy and labour market this year and these include oil prices, regional politics, global economy and major international events, such as Expo 2020 in Dubai and World Cup 2022 in Qatar. The recruitment firm said the two events, for instance, could lead to higher inflation, which will put pressure on salaries.