By Shane McGinley
Jordan, Saudi Arabia and Egypt will be some of the best markets for wage increases
While employees in Europe are
facing harsh austerity measures, their counterparts in the Middle East are
likely to see their average pay rise by 5.4 percent this year, with Egyptians
set for the highest rise of nearly 10 percent, according to a new study
published on Sunday.
The results were part of the
latest Total Remuneration survey conducted by global consulting firm Mercer.
The research tracked the average pay plans of 570 multinational organisations
operating across 76 countries in Europe, the Middle East and Africa.
While average wages in Eastern
Europe and Western Europe are set to rise by 4.6 percent and 2.6 percent
respectively, Middle Eastern employees are set for a 5.4 boost in their average
take home pay this year.
Across the MENA region, Algeria
is set to see average wage packets rise 6.8 percent, while Morocco ranks at 4.9
percent and Tunisia 5.3 percent. Topping the list is Egypt, where an average
raise of ten percent is forecast for 2013.
Across the Gulf area, Jordan is
the best performer, with an average rise of 6.5 percent, followed by Saudi
Arabia on six percent.
However, Zaid Kamhawi, a spokesperson for Mercer, warned that
the study found that an estimated 5 percent of companies are planning to
freeze salaries in 2013.
"Companies however are
placing less emphasis on inflation rates when budgeting for pay increases, and
factoring such variables as relative pay competitiveness, affordability, labour
market conditions and confidence in their business outlook,” Kamhawi said.