a few things to consider-

1. how significant is the jump from your current pay (all benefits included)
2. do you have other comparable offers
3. comfort level/prior experience working in the middle east (west for you)
4. Will your family be joining you soon.

With a masters and 17 years exp this offer is not all that great. I'd say your base pay needs to be reviewed. Nonetheless, congratulations on the offer. Keep in mind various comments and suggestions posted to the thread. they come from experience. But also remember that your individual experience could vary greatly. Good luck.