Who doesn’t love a pay raise?
Are you ready to hear some exciting news? Salaries in the Kingdom of Bahrain are on the rise! That’s right, in 2022, salaries increased to 4.6 billion dinar, compared to 4.4 billion dinar in 2021 and 4.3 billion dinar in 2020. But what does this mean for the local market?
Salaries are one of the major drivers of the local market and the wheel of economic growth. As people receive their salaries, they spend money to buy their needs, which results in huge sales for businesses, institutions, and shops in the Kingdom.
The increase in salaries is a positive sign for the economy, and it means that people have more money to spend. This increase in spending will result in an increase in sales for businesses, which will ultimately lead to economic growth.
The salary volume for 2022 is as follows
- 2.34 billion dinars for the private sector
- 1.4 billion dinars for the public sector
- 850 million dinars for public and private pensions
So, what does all this mean for the people of Bahrain? Well, it means that they have more money to spend on the things they love. Whether it’s going out to eat, shopping for new clothes, or buying the latest gadgets, people now have more money to spend on the things that make them happy.