Companies in the United Arab Emirates are largely resisting demands for higher pay to offset the impact of inflation, according to a survey that showed two-thirds of companies have received requests for salary increases.
Mercer, in its 2022 UAE Inflation Spot Survey of 200 international and local firms, said only 16% of them have taken some action, like one-time lump-sum payments, off-cycle salary bumps or housing allowance increases, as they look to retain talent.
The Central Bank of the UAE projects inflation at 5.6% this year, which is lower than other parts of the world but would be the country’s highest rate since 2016.
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