FINANCIAL ADVISOR IN RISING COST WARNING
Some expats are choosing to leave the UAE rather than pay the rising costs of education and rent. That’s the view of one of Dubai’s leading financial advisors. “The increase in education costs is largely due to two factors,” said Keren Bobker, senior advisor at Holborn Assets financial consulting firm. “The first is that schools are permitted to increase fees each year in accordance with KHDA guidelines based on their inspection reports, so many will keep on increasing whenever they can. The second is the dearth of places. “Many schools are full and so it becomes a case of supply and demand,” she said. “As fewer and fewer expats have featherbed salary packages where the employer covers all costs, the impact of rapidly increasing school fees is being felt by many and is one of the reasons that some expats are leaving.” And she said inflation could rise further. “Whilst I don’t see any real justification I would not be surprised if we see further inflationary increases in the second quarter of 2016,” she added.