TAIPEI (TVBS News) — Asian-Pacific workers are projected to see the highest global growth in real wage increases in 2024, with India leading the way at 5.1%, and Taiwan contributing with a 2.5% rise, according to recent data.
According to the ECA International's Salary Trends Report, real wages for Asian-Pacific workers will increase by 2.2% in 2024, more than double the global average of 1%.
Taiwan ranked sixth in the real salary forecast growth rate in the Asia-Pacific region, outstripping Macau, Malaysia, and the Philippines at 2.3%, and Cambodia and South Korea at 2.2%.
Meanwhile, Vietnam's real wages are expected to surge by 3.6%, and Thailand's by 3.4%. Singapore is likely to see only a modest growth of 0.5%.
"It is due to the region's advantage of lower inflation rate, compared to rest of the world," Mark Harrison, general manager for Asia at ECA International, remarked, "Real wage increases in 2024 will be among the top ten globally in most locations in Greater China, except Hong Kong."
