Doha: A recently released report indicates that salaries in Saudi Arabia are set to see an average rise of 6% this year. This news coincides with the country's ongoing efforts to shift its economy away from reliance on oil, leading to a growing demand for skilled workers.

According to Saudi's Neom City Updates and insights from recruitment specialist Cooper Fitch, major projects like the $500 billion Neom city, the Red Sea Project, and AlUla have been driving up the need for talented individuals.

"Saudi Arabia is gearing up for a significant salary boost, with an expected average increase of 6% in 2024," stated Neom City Updates.

The report indicates that salary increases will vary based on industry, worker performance, and company budgets. More than half of the surveyed companies have expressed intentions to raise salaries in 2024.

Local Saudi papers reported that the Ministry of Finance's 2024 budget statement reveals that over the past year, the private sector has created 1.12 million jobs as part of plans to develop projects totaling more than USD 1 trillion.

Saudi Arabia has introduced five new visa categories specifically aimed at skilled professionals and investors. These categories include special talent, gifted, investor, entrepreneur, and real estate owner residency visas.

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