Welcome to the Cooper Fitch Salary Guide for the Kingdom of Saudi Arabia in 2019. Our guide provides salary expectation ranges for mid-level to senior professionals and hiring across the Kingdom and insights on the employment market, key drivers for change and expected patterns in 2019. This is based on our observations made in 2018 with both job seekers and clients in the region by our subject matter experts. Cooper Fitch is based in the GCC since 1997 specialising in recruitment, executive search and HR advisory services.
Cooper Fitch estimates GDP growth in the Kingdom of between 4-5%, based on the average price of oil $71 in 2018 and various factors contributing to the growth and diversification of Saudi’s economy. The International Monetary Fund (IMF) predicts a lower GDP growth of circa 3% this is perdominately based in a projected increase in crude oil production, but Cooper Fitch believe the growth actual will be ahead of the IMF predictions, partly driven by non-oil activities.
The non-oil growth will be directly in line with Vision 2030 where we see the continued drive of this visionary strategy into projects such as Red sea, NEOM, Riyadh Gate and many other projects. We believe that Saudi Arabia represents the most exciting economic market globally with all the best consultants and advisors being attracted to the country to help support this very exciting initiative.
We foresee the driver for growth in these Giga project rests within privatisation and public-private partnerships which kicked-off at the end of 2017. The implementation of VAT Saudi has helped stabilise the economy generated non-oil-based revenue for the government. They have not only supported Vision 2030 but have also created significant new employment opportunities in the tax advisory and tax consulting space.
Cooper Fitch predict salaries will increase in the Kingdom between 5-6% as an average, but this is subject to the current prevailing economic conditions. Certain sectors and individuals will have a significantly higher increase in their salaries. However, overall, the big driver for the region in 2019 is to improve the employment level for both nationals and expatriates as there continues to be a significant demand for both.
We hope you find the insights presented interesting and useful and we welcome any feedback. If you would like specific data on your market, please feel to contact me directly.
To download the full salary guide for KSA click here or follow the links below for the individual guides on our key focus areas.
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