Average salaries in Saudi Arabia forecast to increase 4.5% in 2020: Mercer

Average salaries in Saudi Arabia are expected to rise by 4.5% in 2020, global consultancy firm Mercer said in its latest survey.

Life sciences and high-tech industries will register the highest increase. Energy industry will, however, see a projected 3.5 percent increase in 2020, compared to a 3 percent increase this year.

“It is very encouraging to see that a large segment of Saudi employers are looking to increase salaries in 2020,” said Basem Samara, career products leader at Mercer.

The increase in wages is a reflection of a resilient and optimistic economy, he added.

The survey, based on responses from over 472 companies, also found that the overall hiring outlook in the Kingdom was positive with 52 percent of respondents planning to increase their headcount and 38 percent looking to maintain headcount in 2020.