The annual real estate exhibition will be wrapping up on Thursday, April 23April 22, 2015 9:46
UAE expats are perennial optimists, survey finds.
Despite poor salaries and miserable past increments, a recent survey finds UAE expats unbelievably cheerful of the future. Not for long, if Kipp has anything to say about the matter.
April 3, 2012 3:45 by kippreport
Are you familiar with Murphy’s law? Kipp sure is-you know the one: “anything that can go wrong will go wrong.” Kipp thinks there is a wealth of truth in the old adage, especially in this economy. For example, just when you think Dubai is booming, BAM! Then comes the realty crash, the Dubai World debt and promises of ‘tough times ahead.’ Then you think things are getting better, prices are stabilizing, business is getting better … then BAM! Rumors of a ‘double dip’ recession surface and a host of Euro-zone troubles. We could go on for ages, but the point is we never keep our hopes up—we can’t think of too many who live in our times who would disagree with us.
And yet, it would seem we are rather alone in our pouty pessimistic ways. According to a survey conducted by YouGov and Bayt.com, 63 percent of UAE employees say they expect a pay raise in the next 12 months even though 40 percent of those surveyed said they had not received a pay rise in the last year or so. In fact out of those who had received a pay rise, 44 percent said they were unhappy with the increment. It is strange that so many seem positive about the future, especially as the majority, 60 percent of the respondents, said their current salary is well below the industry standards. After all of this, it still seems that 63 percent of the under-paid drones are little beams of sunshine.
So what is at the route of all this nauseating optimism? According to Bayt.com: “the most popular reason for this is perceived to be inflation and the rising cost of living (52%).” Oh isn’t that adorable? It is so sweet, Kipp might just even shed a tear. These ickles drones believe just because the cost of living is rightfully and ridiculously increasing, Uncle Mohammed is going to cough up some extra cash. Oh to be young and naïve again.
Wake up simpletons. Just because the cost of living is rising doesn’t mean you should be expecting a handsome pay rise. But don’t take our word for it. Over to you Suhail Masri, Vice President of Sales, Bayt.com: “The survey’s results suggest that companies are still feeling the effects of the economic downturn, as they are generally not fully catering to the financial expectations of their employees or to their employees’ perceptions of the rising cost of living across the region.”
And there you go folks-there is no light at the end of this tunnel. The sooner you resign yourself to a life of arduous and exploitation, the sooner you will have less disappointment in your life. That is right, curl up into the fetal position on your bathroom floor-things sure aren’t getting any time soon.