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Kuwait Standard Of Living
The standard of living in Kuwait is very high. In fact, Kuwait is credited to being a country with one of the highest standards of living in the Middle East. |
The economy of Kuwait is growing at a rapid pace.Kuwait is an oil rich country and hence oil industry is the biggest industry in this country. The revenues from oil and other major industries have been utilized to enhance the infrastructural facilities like building good roads, shopping malls, housing complexes and transport network. Better infrastructure and good communication networks have resulted in various multinationals setting up base in Kuwait. The high salaries offered by these organizations, as well as the public sector companies in Kuwait have increased the standard of living in Kuwait.
Most people in Kuwait are employed in well-paid jobs. These jobs include bank managers and various managerial positions in petroleum companies, finance and investment companies and Information Technology companies. The salaries offered by private sector companies for top managerial positions are around $17,250 per month. The monthly salary for other professionals and skilled workers varies between $1,380 to $3,450, depending on the organization as well as the level of the skilled professional.
There is no taxation policy in Kuwait. One need not pay tax on their salary or earnings. Even better, there is no tax on shopping goods or entertainment as well. The goods are inexpensive because there are no taxes and moreover the import duty on certain items is lower. Thus, Cars, clothing, food, entertainment, electronic gadgets and utility costs are much lower in Kuwait.
Salary without tax cuts and goods and services without taxes has probably led to the high standard of living of Kuwaitis.
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