Economic growth 結果共86筆

Nearly 46% of Taiwanese people expect a salary increase next year, according to a survey by Cathay Financial Holding Co. The survey also found that about 60% of respondents anticipate year-end bonuses ranging from one to three months’ salary, while 8.3% expect bonuses to exceed three months. However, 47.6% of those surveyed expect monthly wages to remain constant. The survey also revealed a conservative estimate for Taiwan’s 2024 economic growth, with an average expectation of 2.52%, contrasting with the more bullish 3.35% forecast by the Directorate-General of Budget, Accounting, and Statistics. Respondents predict an average inflation rate of 2.21%, with 55% believing it will exceed 2%, higher than the directorate’s projection of 1.64% for 2024. The survey was conducted from Dec. 1-7 and gathered 13,379 valid responses through email questionnaires.

President Tsai Ing-wen emphasizes the need for a stable government in the face of future challenges in Taiwan. She expresses her hopes to entrust the nation to reliable individuals during her visit to Hsien Heng Temple. Tsai highlights the experience and comprehensive backgrounds of the Democratic Progressive Party’s (DPP) presidential and vice-presidential candidates, Lai Ching-te and Hsiao Bi-khim. Reflecting on her own tenure, Tsai acknowledges the public support that has strengthened Taiwan’s economy. She discusses global events such as the pandemic, the Ukraine-Russia war, and Taiwan’s drought, noting Taiwan’s resilience and growing international support. Tsai emphasizes the importance of maintaining a parliamentary majority and urges the public to support the Lai-Hsiao ticket and cast their party votes for the DPP for a brighter future for Taiwan.

A survey by Cathay Financial Holdings reveals that Taiwanese are increasingly optimistic about year-end bonuses and economic prospects. 59.3% of respondents expect bonuses ranging from one to three months’ salary, surpassing last year’s 55%. Furthermore, 8.3% anticipate bonuses exceeding three months’ pay, reflecting an improvement in attitudes towards Taiwan’s economy. The Directorate-General of Budget, Accounting and Statistics predicts a 3.35% economic growth in 2024 with an inflation rate of 1.64%, but the public is more cautious, expecting a 2.52% growth and a 2.21% inflation rate. The optimism index for the local stock market has also improved. Additionally, 45.9% of Taiwanese anticipate salary increases, a 13.2 percentage point increase from 2022, while those expecting a steady monthly income dropped by 10.9 percentage points to 47.6%. Only 32.4% believe their year-end bonus will be less than one month’s salary, a decrease of 5.6 percentage points from the previous year.

The Ministry of Economic Affairs and the Ministry of Transportation and Communications in Taiwan have announced a new ＂Subsidiary Tourism＂ program aimed at boosting business travel. Foreign business travelers will be eligible for a subsidy of up to NT＄2,000 starting next year. The program has a budget of NT＄10 million and aims to support foreign business visitors to Taiwan. Stocks of related hotels have surged in response to this policy push, with analysts predicting positive growth for the tourism industry. The reduction in extended public holidays next year is expected to favor domestic tourism momentum and improve hotel occupancy rates. Overall, businesses and investors anticipate a robust year ahead for the hotel industry in Taiwan.

A survey by Cathay Financial Holdings reveals a rise in Taiwan’s economic confidence, with the outlook index turning positive and stock market optimism rebounding. The December survey shows that 70% of the population expects the economic growth rate to exceed 2% in 2024, while 55% anticipate the inflation rate to remain above 2%. These expectations differ slightly from projections by the Directorate-General of Budget, Accounting, and Statistics (DGBAS), which forecasts a 3.35% economic growth rate and an inflation rate of 1.64% for 2024. The DGBAS data suggests that people may be more conservative about economic expansion and anticipate higher inflation. Additionally, expectations for salary adjustments have improved compared to 2022, with 45.9% of those surveyed predicting wage increases. Of these, 9.2% believe raises will exceed 3%, and 47.6% expect monthly regular wages to stay the same. Taiwan’s current situation confidence index has climbed from -23.2 in November to -3.0 in December, while the future outlook confidence index has improved from -9.1 to 3.6, signaling growing optimism about Taiwan’s upcoming economic climate.

President Tsai Ing-wen discusses her post-presidency plans, hinting at a possible teaching role after her term ends. Reflecting on her tenure, she acknowledges the challenges faced by Taiwan but highlights the stable growth and economic achievements during her governance. President Tsai expresses gratitude to her supporters and hopes for her successor to lead Taiwan to greater heights. Emphasizing the importance of presidential capability and political transformation, she commends the Democratic Progressive Party candidates for their steadfast execution of the ＂Tsai Ing-wen route.＂ President Tsai emphasizes the need for future leaders who are internationally trusted, capable of upholding peace and stability in the Taiwan Strait, and maintaining global cooperation and trust.

Taiwan’s central bank has announced that it will maintain its interest rate for the third consecutive time in its quarterly board meeting. The decision was influenced by price changes and the need to balance stabilizing consumer prices with sustaining economic growth. Despite rising consumer prices due to natural disasters, the central bank remains optimistic and expects the inflation rate to drop below 2% next year. Forecasts for Taiwan’s GDP growth rate in 2023 are more positive, projected to reach 3.12%. This is supported by increasing private consumption, particularly in tourism and dining, as well as the central bank’s expectation of a global export increase to stimulate local investment and drive economic recovery. In contrast to the Federal Reserve in the U.S., Taiwan’s central bank stated that its monetary policy approach would be adjusted gradually based on the country’s economic conditions. Despite high housing prices, the central bank has decided against imposing stricter measures or withdrawing from market intervention to avoid further impact on the property market.

National Yang Ming Chiao Tung University (NYMCU) has partnered with the American Climate Club (ACC) to establish the American Taiwan Climate Club. This collaboration aims to contribute to the global net-zero carbon emissions target by 2050. The two institutions have signed a memorandum of understanding (MOU) to develop international carbon standards and propose a white paper on environmental, social, and governance (ESG) policies. NYMCU is committed to raising global citizens with sustainability awareness and plans to integrate the 17 Sustainable Development Goals into its academics and research. The partnership also has the potential to pave the way for Taiwan’s engagement in international carbon trading and promote green economic growth. The American Climate Club, registered in Texas, collaborates with government agencies, carbon reduction technology firms, carbon quality monitoring, carbon asset services, and climate and carbon finance funds. The newly formed American Taiwan Climate Club will focus on climate education, international cooperation, carbon project investment, carbon advisory services, and policy research to strengthen climate protection efforts.

Taiwan’s average regular earnings for employed workers increased by 2.49% from January to October, reaching NT$45,441. However, this growth is the lowest in the past three years, with total earnings, including bonuses and other irregular income, only up by 1.53%. The average monthly real wage slightly increased by 0.06% to NT$41,370, while the average total real wage decreased by 0.87% to NT$53,960, the first decline in seven years. This decline is attributed to a decrease in year-end bonuses following a cooling economy and a decrease in exports. Despite an overall increase in employment of 10,000 workers compared to last year, the manufacturing industry saw a significant drop of 27,000 employees due to economic adjustments. In October, the average regular wage was NT$45,564, up 0.13% from the previous month and 2.31% year-on-year. Part-time workers’ average hourly regular earnings increased marginally to NT$200, reflecting a 1.01% year-on-year gain. While industries such as arts, entertainment, and leisure services, as well as real estate, experienced wage increases, sectors like computer, electronic, and optical product manufacturing saw significant decreases in total wages by 18.54%. The employment numbers in manufacturing have been impacted by export decline, with an increase of 10,000 employed workers from January to October. The industrial sector saw a decrease of 0.63%, while the service sector grew by 0.67%. Accommodation and food services experienced a growth of 13,000 jobs, arts, entertainment, and leisure services saw an upsurge of 7,000, but manufacturing was hit with a reduction of 27,000 employees.

Premier Chen Chien-jen of Taiwan’s Executive Yuan emphasized the critical role of building materials in the country’s transition towards a net-zero future. Speaking at the opening ceremony of the TaiPei Building Show, Premier Chen highlighted the event’s significance in boosting the international visibility of Taiwan’s building materials industry. This emphasis aligns with the National Development Council’s announcement of Taiwan’s 2050 net-zero emissions pathway, which outlines a strategy encompassing energy, industry lifestyle, and society. Premier Chen stressed the importance of developing industrially competitive, sustainable, and resilient business processes that could reduce emissions and promote circular usage. With Taiwan working towards meeting its climate commitments, the Premier expressed optimism about the collective industry effort to drive a green transition and support the country’s economic expansion.

In November 2023, Taiwan’s job market saw significant growth with 1.04 million opportunities, led by the hospitality and ICT sectors. The hospitality industry notably increased salaries by 58%, reflecting broader workforce trends and the need for flexible work environments amid economic challenges.

The Democratic Progressive Party’s vice presidential candidate, Hsiao Bi-khim, has emphasized the need for improved governance and fairer distribution of resources in Taiwan. Despite the country’s impressive economic growth, many citizens have yet to benefit from this boom. Hsiao acknowledged the challenges faced by the youth, including education, employment, and rising housing prices, and stressed the importance of a multifaceted approach to address these issues and meet the aspirations of the younger population.

SinoPac Securities Investment Service (SinoPac Inv. Service) has released a report on the Taiwanese stock market, highlighting its impressive growth streak. Taiwan stocks have surged over 44% since 2020 through the end of November, outpacing South Korea’s market and even surpassing the US S&P 500’s gain. The report suggests that Taiwan stocks are poised to set a new high for the year, as the index has successfully breached the critical threshold of 16,800 points. SinoPac Inv. Service also points out that political performance and a thriving stock market are often seen as indicators of the incumbent’s record, with the stock market tending to show an upward trend before the presidential elections. Given the current momentum and what is described as a ＂multi-bottom pattern,＂ investment strategists at SinoPac are suggesting a ＂bullish-bias＂ investment approach. As investors closely monitor economic indicators before making their predictions on the election’s impact, Taiwan’s stock market enters the end-of-year season with robust investor optimism.

Taiwan’s Finance Minister, Chuang Tsui-yun, projects that Taiwan’s total export value for this year will exceed US$400 billion, marking the third-highest record in Taiwan’s history. The nation’s exports for the first ten months of the year have already reached US$355.1 billion. Despite a slight decline in October, Taiwan’s export sector has shown signs of resilience, with positive growth in September. Chuang advises industry leaders and government departments to closely monitor global economic factors, such as inflation and the interest rate hike cycle, which may impact exports. Cautious optimism is emphasized for exports in the fourth quarter and beyond.

Taiwan’s 2023 GDP growth forecast has been lowered to 1.42%, the lowest in 14 years, due to weaker exports and private investment. Year-end bonuses for Taiwanese workers have also been affected, with the average amount shrinking to 1.08 months’ worth of salary, hitting a 10-year low. The financial industry leads in bonus payouts with an average of 1.83 months’ salary, followed by the semiconductor industry at 1.38 months. The healthcare services industry averages just 0.97 months of salary, while the accommodations and food services sector lags further behind at only 0.59 months. Despite the downward revision, the DGBAS remains optimistic for 2024, forecasting a GDP growth rate rebound to 3.35%. However, challenges such as the Ukraine-Russia war, the Israel-Palestine conflict, and ongoing inflation may pose risks to the global economy. Looking ahead to 2024, local job banks predict pay increases in 47.5% of companies, with an average salary hike of 3.2%, slightly lower than in 2023. Experts caution that Taiwan’s economic recovery may not be as swift as hoped.

Explore how the shifting dynamics between China and the U.S. are influencing multinational supply chains, leading Taiwanese professionals to seek opportunities in Southeast Asia, particularly in Thailand. Discover Thailand’s strategic advantages in labor and electric vehicle initiatives and Taiwan’s collaborative efforts.

The Taiwan Research Institute (TRI) reports a decrease in electricity demand in September, following the end of the summer peak period for consumption. The TRI’s October Taiwan EPI shows a 0.16% growth in high voltage electricity usage across national industries compared to the same period in 2022. However, this growth is smaller than the increase seen in September. TRI President Wu Tsai-yi attributes the deceleration in economic growth to global inflation, interest rate hikes, and ongoing geopolitical crises. Despite these challenges, the domestic electronic technology industry has experienced successful inventory turnover due to the rise of AI applications, the launch of new consumer electronics, and stockpiling for the end-of-year shopping season. With sustained private consumption momentum and negative economic growth factors in the fourth quarter of 2022, a significant increase in economic growth to 4.4% is estimated for October. Wu predicts a gradual return to normalcy for global economic and business activities as the effects of inflation and interest rate increases diminish.

According to a national economic confidence survey by Cathay Financial Holding, approximately half of respondents believe their salaries will increase in 2024, showing a more optimistic outlook compared to last year. About 25% of respondents anticipate a pay hike of more than 3%. This comes after the Ministry of Labor’s decision to raise the minimum wage by just over 4% in 2024. 64% of respondents reported that their income has remained unchanged over the past six months, while 18.1% said it has increased and 17.9% said it has decreased. Looking ahead to next year, 25.2% of respondents expect a salary increase of more than 3%, a significant increase from last year’s survey. The survey also reveals that respondents predict the country’s economic growth rate to stay at 1.6%, with only around 21% believing it will surpass 2% this year. In terms of inflation expectations, the median value remains steady at 2.5%, with 84% of respondents believing this year’s inflation rate will be more than 2%. Overall, the public maintains a conservative outlook on economic expansion, while inflation expectations remain higher.

Taiwan Central Bank Governor Yang Chin-long addressed the Legislative Yuan’s Finance Committee, leaving open the possibility of further interest rate hikes. While rates in the U.S., U.K., Europe, Canada, and Australia are near their peak, Taiwan is approaching its high point. Previous inflation spikes were caused by typhoon impacts, leading to speculation about rate hikes. The Consumer Price Index (CPI) increased by 3% in October. The Central Bank’s council members unanimously decided to temporarily halt rate raises, but some members agreed to suspend hikes for only one quarter, suggesting aggressive responses to future inflation are possible. Market watchers are observing whether interest rate hikes might resume in December if inflation surpasses 3%. Yang attributed the current inflation to typhoon impacts, particularly rising vegetable and fruit prices, and promised close observation of rate raises in the fourth quarter. Economic growth is expected to remain above 2% this year, but the fourth quarter may see a downward revision to 1%.

Taiwanese billionaire and independent presidential candidate Terry Gou addressed the talent drain in Taiwan and its impact on the tourism industry. He highlighted how the lack of qualified personnel has affected the competitiveness of the industry, leading to a decline in domestic travel. Gou also linked this talent drain to the fertility crisis in Taiwan and the issue of female employment. He suggested that remote working could help parents balance work and family life, and called on the government to invest in software and hardware developments to support remote job positions. Gou criticized the ruling party, the Democratic Progressive Party, for its failure to propose effective strategies for economic growth and emphasized the need for industrial upgrades to sustain Taiwan’s competitiveness in export-driven industries.

Taiwan’s ice cream industry has reached a record-high production value of NT＄2.8 billion in 2022, with an average year-on-year growth of 8.3% over the past five years, according to the Ministry of Economic Affairs (MOEA). This growth is attributed to Westernized eating habits, health-conscious consumption, and the introduction of new flavors that cater to Taiwan’s hot climate. The rise of the ice cream sector has also contributed to the steady growth of Taiwanese dairy consumption, which reached a peak production value of over NT＄40 billion in both 2021 and 2022. Despite this growth, Taiwan primarily relies on dairy imports, with an annual increase of 11.1%. New Zealand is the main import source, followed by the U.S., France, and Australia, accounting for 12.6%, 8.7%, and 7% respectively. These imports mainly consist of cheese, dry cheese, and dairy-based spreads.

The Directorate-General of Budget, Accounting and Statistics (DGBAS) has revised Taiwan’s third-quarter GDP growth forecast to 2.32%, down from the previous estimate of 2.54%. The revision is attributed to a slowdown in private capital formation, including government and public enterprises’ fixed investments and stock changes. However, the DGBAS official, Wang Tsui-hua, stated that Taiwan’s economy is still improving, with a third-quarter GDP growth rate of 10.47% on a seasonally adjusted annual rate (saar). If fourth-quarter forecasts are maintained, this year’s GDP will be revised downward to 1.55%.

The Taiwan Popular Science Train, now in its eighth year, has embarked on a journey across the island nation, bringing the excitement of scientific discovery to students. Premier Chen Chien-jen praised Taiwan’s digital economic growth and technological advancements, urging students to pursue careers in science. Minister Without Portfolio Wu Tsung-tsong and Digital Minister Audrey Tang also attended the kickoff ceremony. The train will visit both urban and remote areas, with stops including Taipei, Pingtung County, Hualien, Taitung, and Keelung. Approximately 240 elementary students are expected to participate in the event, which will feature over 330 experiments in fields such as zero carbon emissions, cyber security, artificial intelligence, and quantum and basic sciences.

Taiwan’s Minister of Economic Affairs, Wang Mei-hua, expressed concerns about maintaining a 2% GDP growth rate this year despite signs of economic recovery. She cited external factors such as inflation, the Russia-Ukrainian war, and the Israeli-Palestinian conflict as global market influences. However, Wang emphasized that Taiwan’s innovation and efficiency are key advantages that can withstand external economic pressures. The National Development Council also reported a slight improvement in economic measures, indicating subtle growth amidst global adversity. Despite challenges, Taiwanese authorities and stakeholders remain cautiously optimistic and ready to leverage the nation’s inherent strengths.

ranking it 5th worldwide in per capita net financial assets. With an average net worth of NT＄4.8 million per Taiwanese citizen, this historic high demonstrates significant economic growth. Explore how the pandemic elevated Taiwan’s wealth and savings rates compared to other nations.