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Inflation hurting expatriates
- Tuesday, December 26 - 2006 at 08:01
High inflation is making Gulf states less attractive to foreigners who have relocated seeking better income and tax breaks, according to a GulfTalent.com survey cited by Bloomberg. Salary increases over the past two years haven't matched the rise in the cost of living in the six GCC states, the survey concluded. It showed salaries had increased by an average 7%-8%, while rents have soared by as much as 80% since 2005.
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James McInerney, News EditorTuesday, December 26 - 2006 at 08:01 UAE local time (GMT+4)
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This article was updated on Wed Mar 28 2007.
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