There are some wild guesses and nonsense on this thread.
I'm currently in China teaching yet another class of ab-initio first officers. We have been training this airline for a couple of years and another for about the same time. They have FO's in the pipeline but the expansion is such that there is a gap of Captains so for the next 3-5 years there is a big market for and therefore high salary for experienced Cpt. All the current estimates are for around 4 to 5 thousand new pilots per year required, Half of which will of course have to be captains. That's for the next 5 years at least.
The Airline group we work for is one of the largest with about 10 or so Airlines of various sizes and fleets. They have a problem with expat retention due to cultural differences. It's a big problem and has resulted in several aircraft delivery delays. They are working on some interesting solutions to the retention problem including month on month off schedules and long distance commutes.
I imagine when the exodus from the middle east begins the knock on effect will boost pay across the board for Captains. As there is no great demand for FO's I don't see it having an impact on them.