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Taiwan’s real wages to rise by 2.5% in 2024: report
Asian-Pacific workers, including those in Taiwan, are expected to experience the highest global growth in real wage increases in 2024, according to recent data. India leads the way with a projected rise of 5.1%, while Taiwan contributes with a 2.5% increase. The ECA International’s Salary Trends Report indicates that real wages for Asian-Pacific workers will increase by 2.2% in 2024, more than double the global average of 1%. Taiwan ranks sixth in the real salary forecast growth rate in the Asia-Pacific region, surpassing Macau, Malaysia, the Philippines, Cambodia, and South Korea. Vietnam and Thailand are expected to see real wage surges of 3.6% and 3.4% respectively, while Singapore is projected to have modest growth of 0.5%. The region’s advantage of lower inflation rates compared to the rest of the world contributes to these increases. Greater China locations, excluding Hong Kong, are expected to be among the top ten globally in terms of real wage increases in 2024.2023/11/09 15:09