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Why you should live in Asia Pacific if you want a pay rise

33 10 12

ASIA-PACIFIC countries are leading the way in real wage increases, taking 14 spots in the top 20 highest rises across the globe. All but one of the top 10 are Asian countries.

A Salary Trends survey from ECA International predicts the real average salary increase in Asia-Pacific will by 2.7 percent in 2019 – that’s more than double the global average of 1.2 percent.

India tops the world rankings with employees forecast to receive a 5.1 percent increase in real salary over the next 12 months.

Vietnam is a close second with an expected rise of 4.9 percent, followed by Indonesia with 4.2 percent.

China (4.1 percent), Thailand (4.1 percent), Bangladesh (3.9 percent), Cambodia (3.4 percent), Sri Lanka (3.2 percent), South Korea (2.7 percent), and Malaysia (2.7 percent) round out the top 10.

SEE ALSO: Which Singapore graduates are most employable in the world?

Not far behind is Southeast Asian neighbour Singapore with a rise of 2.6 percent. ECA said Singaporeans will see their nominal salaries increase by four percent in 2019 but, after factoring in inflation which the International Monetary Fund predicts to be 1.4 percent next year, employees will see a real salary increase of 2.6 percent.

Asia Pacific leads the way in salary increase for a number of reasons, the first being the number of developing economies in the region. These will generally have high rates of inflation, having a knock-on effect on salaries, explains ECA International Regional Director for Asia,........

© Asian Correspondent