Vietnam leads Southeast Asia in
Vietnam leads Southeast Asia in
salary growth
Vietnam leads Southeast
Asia in
terms of salary
growth with
a 5.1 percent increase expected in 2020, according to a report by ECA
International.
Vietnam is expected to have a 5.1 percent increase in salary in 2020 (Photo:
VNA)
Meanwhile, Thailand is among the top five economies in the world to see real
salary increases as productivity grows. The country is likely to see a real
salary increase of 4.1 percent in 2020, up from 3.9 percent in 2019.
The average real salary increase in Singapore is forecast at 3 percent in 2020,
down from 3.3 percent in 2019, which is above average in Asia-Pacific and more
than double Hong Kong's rise of 1.4 percent. India will again see the highest
real salary increase in Asia, predicted to be 5.4 percent.
The average increase in real terms in Asia-Pacific is forecast at 3.2 percent.
India took the top spot, followed by Vietnam, Indonesia, Cambodia, then
Thailand.
Workers in Vietnam and Thailand will both see further increases to their
salaries as the nominal salaries expected to be given by employers stay well
ahead of the low levels of inflation that these countries will see in 2020, Lee
Quane, Regional Director of Asia at ECA
International,
was quoted by the Thai media as saying.
Lee said this has been a long-term trend for both countries, as productivity
continues to grow and inflation is controlled.
Asian nations lead the way again for salary increases with 13 out of the top 20
hikes in real salaries and the entire top five in the global rankings.
In China, the real salary increase is again expected to be above the regional
and global average at 3.6 percent.
However, not all in emerging Asia will benefit from an above-average salary rise
after inflation. Workers in Malaysia are expected to see a big drop in their real
salary increases
compared with previous years, to 2.9 percent from 4 percent in 2019.
Source: VNA