Middle East has always been a very attractive place when it comes for people to come here and earn money, whether it is getting a job or starting your own business, it is lucrative in many ways, since it's tax free. For those who have to pay taxes and vat the % is much smaller in comparison to other countries. Majorly I have seen this that people do get carried away with the life in Middle East, it's all fancy. It's larger than life ways. Specially in Dubai, the options are unlimited, there is so much over there to spend on, no matter how much ever you try to control, at some point you do get carried away.
When people move to Middle East, they do it because they are offered better wages then what they would earn in their own home country. But one also needs to understand that the expenses also go up. You are kind of running 2 homes with that one income. When people take up jobs before doing all these calculations then sometimes, they feel that it was not the wisest decision taken. Some month back in our Company one accountant joined in from India. He was offered a salary double then what he was earning back in India, but after coming here, he realized the salary was not enough as all his expenses had doubled up, which he had not carefully factored. He could barely save anything and in disappointment he quit and moved back to India just in 3 months.
This is very common over here. When one moves to another country, they need to have a financial plan, as to what their savings will be against their income. If it is a good amount then all the effort is worth it, else there is no point in shifting the base without any real gains. In Dubai, how much ever one earns it never feels enough. My friends who are there since more than 15 years, they tell me that they have not been able to save much since the lifestyle over there is high and heavy on the pockets.
Another thing is in places like Qatar and Dubai, people get carried away with the extravagant lifestyle and they spend more than their usual. When they start getting more money, they start spending also more, they buy expensive gadgets, go on expensive holidays, their whole lifestyle changes, which also leaves them barely with any savings.
When one moves to any place in Middle East, they need to keep this very strongly in their mind that their jobs are not permanent and eventually they have to move back to their home country. When they do so they have to have enough to manage the rest of their life. Every job contract is here only for 2 years, and the employers decides if they will renew or not every 2 years. There are phases when they want to reduce the expat population in their regions and they lay off many jobs. All these circumstances one has to be mentally prepared with.
From the day one lands in Middle East they have to start their savings plans because time just flies and when it's time to go back home you may realize you do not have enough to fall back on. Here in Oman life is not very extravagant, yet a lot of people are not able to save much, with the same reason that with increased income they also have increased responsibilities and additional expenses. A good saving plan has to be set in place to make the country shift worth it.
Thank you for visiting my blog. 馃懠馃徎馃懠馃徎馃挅馃挅馃尮馃尯馃尭