Survey reveals Taiwan office workers’ financial challenges

TAIPEI (TVBS News) — A recent survey from Yes123 job bank highlights the financial struggles of office workers in Taiwan, who find that their salaries are insufficient to cover increasing living expenses. The survey shows that 92% of workers believe their monthly income doesn't meet their needs, exacerbated by a significant rise in dining out costs.

Dining Costs Surge

The average expense for dining out has spiked to NT$8,412 per month, which accounts for 18.2% of the typical monthly income of NT$46,140. This increase is primarily driven by dinner expenses, which have seen the most significant rise at 89.4%, followed by lunch and breakfast expenses.

Su Hsiang-ting, deputy GM of a consumer market research company, noted, "Dinner is the time of day when spending is highest. Eighty-five percent of consumers have said they consciously control their overall spending due to rising prices, and over seventy percent are willing to purchase short-dated products."

Housing and Utility Concerns

In addition to food costs, 46.1% of office workers are renters who spend nearly NT$12,000 each month on rent, consuming 24.1% of their income. With electricity prices on the rise since April, 88.3% of renters are now worried about potential increases in rent due to higher interest rates and utility costs.

Bingo Yang, spokesperson for Yes123 Job Bank, explained the broader economic pressures, "The minimum wage has been adjusted eight times since 2017, but increases in personnel costs, electricity, and rent have led to higher dining out expenses."

Yang also cautioned against excessive saving, stating it could lead to a vicious cycle of saving without spending, which is detrimental to Taiwan's domestic economy. The necessity to address the low-wage dilemma amid inflation and rising labor costs is becoming increasingly urgent for both the government and enterprises.