Some To Invest In Properties, Shares
IN THIS week's online poll, Arab Times asked voters on how they felt an increase in the minimum salary slabs would affect expatriates. A majority of voters, 49 %, said they would use the extra amount to repatriate money home.
Speaking to the Arab Times respondents said that expatriates love their home countries and are here only for the money. Moreover, expatriates have many liabilities by way of debts and dependents from close and extended families who they have to provide for.
Therefore, the main goal of a majority of expatriates is to send as much money as possible to their families. The respondents said that they know of people who support not just their wife and children, but also their nieces and nephews and more distant relatives.
About 30 % of the voters felt that higher salary slabs would stoke up investments. Most of the respondents who supported this view said they would like to invest in stocks. Dealing in shares is increasingly becoming an attractive investment opportunity for many. The facility to trade in shares online has given this investment a leg up.
Those dealing in shares said that it's very interesting, and at times addictive. An Indian expatriate said that he trades online in the Indian markets, and has placed an upper limit for daily investment. "I will never put in more than this amount, no matter how enticing a particular share might look."
Others said they would save up money to invest in properties. Real estate is also a booming sector all across the globe. People are looking to buy flats or plots of land for investment purposes. One respondent said that his investments have seen 10-fold growth in less than 5 years.
17 % of the voters said they would consider moving to better apartments if they had higher salaries. The new apartments are too small and crammed up, they noted, "and we would like to move to bigger and more luxurious apartments." But others felt that with increase in salaries there would be inflation, which will further drive up the rents.
Many respondents complained of soaring house rents. "It looks like landlords are competing between themselves in leeching their tenants." There's a virtual rent-war going on, with some apartments witnessing a sudden increase of up to KD 50.
3 % said they would spend the extra income on cars. A small minority of voters, 1 %, would go for food and clothes. Food inflation is the highest, said the respondents. "And we would like to try out the many prime restaurants in Kuwait."
© Arab Times 2013
