Gulf expat’s broken times

“Of the UAE-based expatriates surveyed in the study, 41% reported making no savings on their income, the highest figure in the Gulf.” according to GulfTalent’s compensation trends study. Salaries in GCC private companies have increased with an average rate of 9.0 over the last year, based on the figures GulfTalent.com released. But despite of these surveys and studies, it is very depressing to know that there are some who cannot save even a single penny from their salaries. As an expat in the Middle East, we were forced to migrate for certain reasons. One of the common reasons is this; we will not be able to achieve our goals with the uncompetitive wage our country is offering if we will not work abroad. There are millions of expatriates living in the Gulf and each of them has different reasons why they are living and working in this region. Having a huge salary is not the issue here. A person getting 10,000 AED does not mean he is having millions of savings in his bank account. And an ordinary housemaid who is earning 800 AED is impossible to have a 10,000 AED in her account. It is not important how much an individual is earning; it depends on how much he can save from his earnings. Whether you are an expat or a local citizen, we should start planning our goals by saving before we will end up being broke for the rest of our lives.