Saudi Arabia offers highest salaries for expats in world; Report
By Aishwarya Nair | First Published Jul 26, 2023, 3:37 PM ISTThe survey was conducted by MyExpatriate Market Pay. The highest average salary for middle managers worldwide, according to the MyExpatriate Market Pay Survey, is 83,763 pounds (Rs 88.64 lakh) in Saudi Arabia.
For expatriates, Saudi Arabia has become a popular location. The Middle Eastern nation offers the greatest earnings to expats, according to recent research by consulting firm ECA International. The highest average salary for middle managers worldwide, according to the MyExpatriate Market Pay Survey, is 83,763 pounds (Rs 88.64 lakh) in Saudi Arabia. It also stated that despite a 3% drop from the prior year, the average salary is still the highest. The UK, on the other hand, emerged as the most expensive place in the world to send employees.
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"While they may not top the overall rankings, expatriate salaries in the Middle East tend to be incredibly generous as a way of encouraging people to relocate there, with the highest salaries being in Saudi Arabia. However, the cost of benefits ranks lower and combined with the lack of personal tax, overall package costs are more affordable," Oliver Browne, Remuneration and Policy Surveys Manager at ECA International, said in a release posted on the consultancy firm's website.
"This is in contrast to the UK, where the bulk of the package cost is due to tax and benefits rather than salary," he added.
According to the survey, the UK and Japan now have a larger salary difference for expatriates.
The typical package in the UK, which includes salary, tax, and benefits including accommodation, international educational institutions, and utilities, is $441,608 (Rs 3.62 crore), however, salary only accounts for 18% of the overall.
Despite the decline in real terms, Hong Kong rose three spots to take the fifth-most expensive spot in the world to send overseas employees. In the rankings, Singapore was in position 16. In the global ranking of the MyExpatriate Market Pay Survey, Japan, India, and China occupied positions 2, 3, and 4, respectively.
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