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1 in 3 UAE companies cut back on employee expenses, reveals...

Nearly one-in-three companies in the UAE have cut back on their employee expenses bills over the past six months.

Cutbacks on charges being billed back to the company were revealed in a survey by YouGov for American Express - figures that also reveal 20 per cent of firms have reduced business class travel.

Interestingly, however, just three per cent of respondents in the AMEX Middle East Corporate Spending Survey reported cutting back on corporate hospitality in the last six months.

But overall, says Mazin Khoury, CEO of American Express Middle East, "a clear consequence of the financial crisis is that companies in the UAE have become much shrewder and more informed when it comes to controllable expenses."

The survey found that 70 per cent of respondents say companies in the UAE are now "more financially conservative".

But there aren't cobwebs covering their wallets just yet, says Khoury.

"They are now spending smarter and for the long term," he said.

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Publication:7 Days (Dubai, United Arab Emirates)
Geographic Code:7UNIT
Date:Jun 27, 2013
Words:171
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