Riyadh: The Kingdom of Saudi Arabia (KSA) has once again emerged as the ultimate destination for expatriates seeking generous compensation.
According to a recent MyExpatriate Market Pay Survey by international consultancy Expatriate Employment Conditions (ECA), Saudi Arabia offers the highest salaries for expatriate middle managers in the world.
An expat middle manager in the Kingdom draws an average salary of 83,763 pounds (Rs 88,58,340) annually, which is 20,513 pounds (Rs 21,69,348) higher than that in the UK, the survey said.
It added that the average salary is the highest despite a three percent decrease compared to the previous year.
“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.
Switzerland secured the second spot globally and ranked first in Europe vis-à-vis paying expats. The average salary of an expat in Switzerland is 77,760 pounds (Rs 82,21,777) per annum.
