More Wives Now Outearn Their Husbands. They Also Stay Together Longer.
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    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,627,086 (-0.52%)       Melbourne $991,016 (+0.02%)       Brisbane $1,008,247 (+0.57%)       Adelaide $881,757 (-1.94%)       Perth $857,431 (+0.47%)       Hobart $728,683 (+0.15%)       Darwin $650,080 (-2.29%)       Canberra $1,042,488 (+1.17%)       National $1,052,954 (-0.17%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $754,033 (-0.54%)       Melbourne $493,897 (-0.18%)       Brisbane $575,927 (+2.34%)       Adelaide $460,725 (+2.82%)       Perth $451,917 (+0.14%)       Hobart $507,207 (+0.52%)       Darwin $359,807 (+0.61%)       Canberra $486,447 (-2.01%)       National $534,000 (+0.26%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 10,472 (+43)       Melbourne 14,783 (-132)       Brisbane 7,948 (+15)       Adelaide 2,170 (+81)       Perth 5,836 (+49)       Hobart 1,243 (+2)       Darwin 251 (+7)       Canberra 967 (-21)       National 43,670 (+44)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 8,699 (+113)       Melbourne 8,259 (+38)       Brisbane 1,637 (+2)       Adelaide 386 (+14)       Perth 1,480 (-37)       Hobart 204 (+6)       Darwin 409 (+5)       Canberra 1,034 (+6)       National 22,108 (+147)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $820 ($0)       Melbourne $600 ($0)       Brisbane $640 (-$10)       Adelaide $610 (+$10)       Perth $680 ($0)       Hobart $550 ($0)       Darwin $740 (-$10)       Canberra $680 ($0)       National $675 (-$2)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $760 ($0)       Melbourne $595 ($0)       Brisbane $630 (-$10)       Adelaide $500 ($0)       Perth $625 (+$5)       Hobart $460 (+$10)       Darwin $535 (-$5)       Canberra $550 ($0)       National $595 (-$1)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 6,053 (+221)       Melbourne 6,376 (+263)       Brisbane 4,431 (+5)       Adelaide 1,566 (+60)       Perth 2,666 (-61)       Hobart 431 (0)       Darwin 102 (+7)       Canberra 621 (+19)       National 22,246 (+514)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 10,306 (+260)       Melbourne 6,173 (+102)       Brisbane 2,248 (-24)       Adelaide 399 (+26)       Perth 754 (+14)       Hobart 148 (+5)       Darwin 145 (+9)       Canberra 785 (+39)       National 20,958 (+431)                HOUSE ANNUAL GROSS YIELDS AND TREND       Sydney 2.62% (↑)        Melbourne 3.15% (↓)       Brisbane 3.30% (↓)     Adelaide 3.60% (↑)        Perth 4.12% (↓)       Hobart 3.92% (↓)     Darwin 5.92% (↑)        Canberra 3.39% (↓)       National 3.33% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND       Sydney 5.24% (↑)      Melbourne 6.26% (↑)        Brisbane 5.69% (↓)       Adelaide 5.64% (↓)     Perth 7.19% (↑)      Hobart 4.72% (↑)        Darwin 7.73% (↓)     Canberra 5.88% (↑)        National 5.79% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 0.8% (↑)      Melbourne 0.7% (↑)      Brisbane 0.7% (↑)      Adelaide 0.4% (↑)      Perth 0.4% (↑)      Hobart 0.9% (↑)      Darwin 0.8% (↑)      Canberra 1.0% (↑)      National 0.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 0.9% (↑)      Melbourne 1.1% (↑)      Brisbane 1.0% (↑)      Adelaide 0.5% (↑)      Perth 0.5% (↑)      Hobart 1.4% (↑)      Darwin 1.7% (↑)      Canberra 1.4% (↑)      National 1.1% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND         Sydney 28.7 (↓)       Melbourne 30.2 (↓)       Brisbane 30.7 (↓)     Adelaide 25.9 (↑)        Perth 35.8 (↓)       Hobart 37.6 (↓)     Darwin 37.0 (↑)      Canberra 28.5 (↑)      National 31.8 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 29.2 (↓)     Melbourne 30.4 (↑)        Brisbane 29.5 (↓)     Adelaide 26.3 (↑)        Perth 36.6 (↓)       Hobart 29.7 (↓)       Darwin 45.0 (↓)     Canberra 39.6 (↑)        National 33.3 (↓)           
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More Wives Now Outearn Their Husbands. They Also Stay Together Longer.

The share of marriages with women breadwinners tripled over the last 50 years

By JULIA CARPENTER
Fri, May 12, 2023 8:29amGrey Clock 3 min

Marriages in which wives outearn their husbands are not only more common, but less likely to end in divorce than in the past.

Couples married in the late 1960s and 1970s were 70% more likely to divorce when wives earned the same or slightly more than their husbands compared with couples where the husband earned more, according to research from Christine Schwartz and Pilar Gonalons-Pons, sociologists at the University of Wisconsin-Madison and the University of Pennsylvania, respectively. For couples married in the 1990s, however, the divorce rate for those with female breadwinners had fallen to 4% higher than male breadwinners.

The reasons these marriages are succeeding seem to be cultural as well as economic, Prof. Schwartz said. Growth in women’s educational and career trajectories has removed some of the stigma of lower incomes for husbands. And the higher cost of building a life together has made it a necessity for more couples to maximise their two incomes.

Sarah O’Brien, a 35-year-old archivist in Palm Desert, Calif., overtook her husband in earnings five years ago. The couple first met climbing the ranks of the public library world together, but she worried he would be uneasy about what her higher income would mean for his role in the household.

When they sat down to have the conversation, Ms. O’Brien said her husband, David Murguia, a 36-year-old circulation manager, told her that he was proud of her.

“I don’t have the ego of ‘I need to earn more money,’” Mr. Murguia said. “More money for her is more money for us, and more money for me is more money for us.”

Ms. O’Brien and Mr. Murguia are one of many more egalitarian marriages. The share of women outearning their husbands has tripled over the last 50 years, from 5% to 16% of all opposite-sex marriages, according to data from Pew Research Center.

Men used to worry that having a more financially successful wife could be detrimental to their own careers, said Johanna Rickne, professor of economics at the Swedish Institute for Social Research at Stockholm University. Women in the upper echelons of their professions were more likely to be divorced than women in less prestigious positions and were far less likely to be married at all.

“It’s changing, and now there is progress in the sensitivity to women’s economic empowerment within relationships,” Prof. Rickne said.

When Sally Mellinger, a 38-year-old director of content strategy in South Bend, Ind., first moved in with her fiancé, she said they both talked about their experiences as breadwinners: Ms. Mellinger as the wife outearning the husband in her first marriage and her fiancé, Luis Beltran, as the sole breadwinner in his own previous relationship.

Nearly three years later, Ms. Mellinger brings in nearly triple in salary what Mr. Beltran makes as the owner of his own barber shop. But she said talking about what their combined incomes can do for their shared future isn’t a loaded conversation but instead a hopeful one.

“When I was previously married, I was the major breadwinner and everything was on me,” Mr. Beltran said. “I see her as my equal, and I feel like at this point, because she is a boss, I admire that and I see a future.”

Despite the shifting viewpoints on female breadwinners, there remains a gender pay gap. As of 2022, women earned an average 82% of what men earned, according to a Pew Research Center analysis.

Over the same period, the overall divorce rate has declined, according to the Centers for Disease Control and Prevention, and younger couples are entering first marriages at later ages.

Relying on a single breadwinner to bring home all the bacon is no longer a sustainable model for many couples, especially those raising children, said Jennifer Glass, professor of liberal arts and executive director for the Council on Contemporary Families at the University of Texas at Austin. The median cost of keeping an infant in daycare ranges from $8,000 a year in more rural areas to nearly $17,000 in major cities.

“The traditional family structure leaves you poor today,” Prof. Glass said.

Farnoosh Torabi, who hosts a personal finance podcast, said she’s spoken with couples who say they need two incomes to protect their household against a possible recession, the next round of layoffs or any other unforeseen challenges.

In her own marriage, Ms. Torabi said she had been primed to defend her newfound breadwinning status when she overtook her husband in earnings before they were married. But instead, the two celebrated her success—and the financial freedom it afforded them both. The conventional wisdom was no longer true, she said.

“I was told that would be a turnoff: Don’t tell guys you have ambitions because they’re not going to feel like they can take care of you,” she said.



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How the Middle East Became the Latest ‘Gold Rush’ in Marketing

The Middle East is set to be the fastest-growing marketing region in the world, driven by momentum in countries such as Saudi Arabia

By MEGAN GRAHAM
Tue, Jun 18, 2024 5 min

Saudi Arabia’s fledgling advertising industry and continued growth in the sector in the United Arab Emirates are helping to make the marketing business in the Middle East the fastest-growing in the world.

Ad spending in the Middle East is projected to increase 8.1% to $6.6 billion this year, up from 3.5% last year, according to advertising research firm WARC.

That expansion is building from a much smaller base than in many other ad markets. The Netherlands alone will generate $6 billion in ad spending in 2024, up about 2.3%, WARC said. But it is also enough to outpace every other region in 2024, the firm said.

“It reminds me almost of the gold rush,” said Reda Raad , chief executive of TBWA\Raad Group, an ad agency based in Dubai, in the United Arab Emirates, that is part of the U.S.-based ad holding company Omnicom Group . “I don’t think we’re going to see this type of growth again in our lifetime.” TBWA\Raad has won eight new clients over the past year, with an increase in head count of 17% to accommodate the new work, Raad said.

Some international brands have long maintained a presence in the region. PepsiCo has considered the area a strategic market for decades, said Karim Elfiqi , senior vice president and chief marketing officer at PepsiCo Africa, Middle East and South Asia. Sponsorship deals with local stars such as Mohamed Salah , a soccer player from Egypt, “are a testimony of how over time, we have been part of the cultural fabric of the region,” Elfiqi said.

Other major brands have formed a more recent focus on the Middle East. The Lego Group opened a Middle East and Africa headquarters in Dubai in 2019, citing the size of the region’s young population. That office has developed work such as a Ramadan-themed campaign that ran in the U.A.E. and Saudi Arabia, among other locations.

‘Massive growth’

The Middle East’s ad market has lagged behind regions such as North America and Europe partly because of stricter cultural norms and regulations that affected business, as did a more limited media landscape and economic instability, according to Raad.

But marketing growth in the region is now being driven in part by newfound marketing interest in Saudi Arabia, where ad spending this year is expected to reach $2.1 billion, nearly double its level in 2019, according to WARC. Growth is also coming from the U.A.E., whose ad market is expected to reach $1.7 billion in 2024. Smaller contributors include Qatar and Kuwait.

The landscape has changed now because of economic diversification, increased connectivity and a move into the digital world, leading international brands to enter and invest in campaigns tailored to the region, Raad said.

Four years ago, Saudi Arabia made up a small proportion of business at Lightblue, a creative experience and tech agency based in Dubai. These days, 40% of its business comes from the country, says co-founder David Balfour , who opened an office in Riyadh last month as a result.

“The conversation used to be, ‘We’re going to do this in Dubai.’ Now, it’s ‘We’re going to do this in Dubai—and in Saudi.’” Balfour said. “We’re seeing massive growth in that region.”

There have been speed bumps. As government spending reaches huge levels , Saudi Arabia experienced a rare economic contraction in 2023.

But the country’s efforts to expand its economic pursuits beyond oil have led to the creation of new brands, which are seeking the help of marketing agencies to get the word out.

Marketers in the region are seeking help to stay on-trend in areas such as generative artificial intelligence and social media, said Greg Paull , principal of R3, a consulting firm that helps match advertisers with agencies.

“U.A.E. has been a magnet for the region for 20 years as more investment has come in—but with the new leadership in Saudi since 2017 [when Mohammed bin Salman was named crown prince ], this market has gone through remarkable growth,” Paull said.

Saudi Arabia has faced criticism for its human-rights record under the crown prince, the day-to-day ruler of the kingdom, especially over the 2018 killing of dissident journalist Jamal Khashoggi and the more recent jailing of women’s rights activists.

Mohammed has outlasted the international isolation that followed Khashoggi’s killing, however, and continues to pursue an economic diversification plan dubbed Vision 2030. The country last year unveiled plans for a new international airline called Riyadh Air, is investing billions of dollars to build its tourism and videogame industries, and in March hosted a golf tournament in Jeddah under the auspices of LIV Golf, the Saudi-backed league that has both challenged the PGA Tour and struck a deal to unify with it.

Changing tides

Vision 2030 also calls women’s empowerment a top social priority and seeks to increase the country’s employment rate of women.

Nada Hakeem , CEO and co-founder of Saudi creative agency Wetheloft, said the perceptions of hardships for women in the marketing and advertising industry are outdated and inaccurate.

“As a Saudi woman who founded my company in 2012, I’ve always felt supported by the creative community and the industry as a whole,” Hakeem said. “While every society may have its challenges, I can confidently say that these challenges have not hindered our growth.”

A progression of new laws, policies and incentives are making the industry in Saudi Arabia more inclusive and supportive for women, she added.

In certain parts of the Middle East, “absolutely, it’s still challenging, but they are making the right strides, and they have the right quotas and ambitions in place,” said Rebecca Bezzina , CEO for the EMEA region at R/GA, an agency owned by Interpublic Group of Cos.

“They’ve got wealth, they’ve got world-class ambition, world-class budget. They’re not shy of doing things in the right way,” Bezzina added, speaking of the region overall. “But they still have a talent shortage, especially from a creative and design and product point of view. So often what we’ve found our success has been that they’ve come to us and said, ‘Oh, we want a world-class agency to help us launch this new venture or do this new brand.’”

R/GA said it sees 69% more requests for agency work from marketers in the region today than it did five years ago. It recently handled a brand redesign for Banque Saudi Fransi, which wanted to reaffirm its Saudi roots with a modern identity, and created Weyay, the brand for a new digital bank from the National Bank of Kuwait.

The agency hasn’t notably increased its regional workforce, but it has made changes to facilitate working across Europe and the Middle East.

Other Western players are making moves to capture a piece of the growth. Advertising giant WPP has long worked in Saudi Arabia through units such as Ogilvy and GroupM, but in 2021 established a joint venture with a local company to create ICG Saudi Arabia, a communications and media company based in Saudi Arabia. Ad holding company Stagwell opened new offices for its media agency Assembly in Riyadh in 2021 and in Cairo in 2022.

Regional hospitality

Some executives said certain facets of business dealings in the Middle East are different than in other parts of the world.

Bertrand Morin, a group account director for R/GA who is based in London and works often with Middle Eastern clients, said he spends much more time speaking about personal lives and families with those clients than those in the U.K. or U.S. He has been invited to Middle Eastern clients’ homes to join their families for dinner, something that has never happened with clients elsewhere.

But others say it can feel surprisingly familiar.

Balfour, the Lightblue co-founder, said he was struck by the number of ad-agency workers recently having dinner at the Riyadh location of steakhouse chain Beefbar, and the scene’s similarity to far-off locations.

“The staff are from everywhere in the world. The service and the food is unbelievable. There’s a DJ playing,” Balfour said. “Apart from not having alcohol, you could be anywhere in the world.”

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