Construction Salaries & Industry Surging in the Gulf
Construction salaries have surged among nations in the Gulf Cooperation Council as the region continues to see investment from government plans to improve its infrastructure as well as other sectors such as retail, tourism and hospitality looking to expand as well.
Increased Salaries in 2015
75% have experienced movement in their salary, with 23% of respondents saying their salary had increased between 5-10%. Furthermore, according to the Hays Salary and Employment report 2015, 50% of respondents stated they are expecting another 10% increase to their annual pay check in 2015.
The confidence shown in salaries could be surprising due to the falling oil prices and some companies deciding to freeze hiring intentions around the world, however further investment from local governments has seen an expansion within the construction industry.
Those who moved jobs saw a 15+% increase in their salary compared to those who stayed at their company only receiving a 5% increase. Despite this, loyalty is always at the forefront of the employers mind when deciding to move, with 33.8% of respondents (in HAYS survey) planning to work at the company for five years or more, the most of any response.
Most Desired Destinations to Work
The UAE is the most favoured place for construction wages in the region, as voted by an overwhelming 60% of all respondents in the CiR survey. The next best were Qatar (18.5%) and Saudi Arabia (17.5%).
The remaining smaller nations in the GCC were picked by less than 4% of respondents. Despite this, these smaller nations have seen large-scale infrastructure projects kick starting growth of their economies and demand for more workers.
Among the many other lifestyle benefits of working in the United Arab Emirates, the presence of some of the worlds leading international brands headquartered in the UAE seems a favourable reason why many expat professionals seek out UAE as a desired location.
High Project Growth
With the lingering prospect of mega-events such as Dubai 2020 and the FIFA World Cup 2022 in Qatar, it provides a sustained momentum and pipeline of projects for the industry to be working on.
Despite this, Saudi Arabia has been the biggest driver of growth with a pipeline of projects that began last year continuing into 2015. Particularly within the UAE, a focus on tourism, hospitality and real estate infrastructure is expected to drive construction growth in this region, while continued expansion to major airports will allow for the UAE to continue its prominence as the hub connecting Asia and Europe.
With the increased salaries, it promises to be one of the most competitive markets available, particularly for expats looking to relocate. A demand for more construction professionals was concluded as a result of the HAYS survey with project managers, construction managers and professionals with 12-15 years of experience in particular high demand.
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