Asian nations lead global salary increases for 2019

According to a new report, Asia is expected to see the greatest real salary increases in 2019; particularly India, Vietnam, and Indonesia.
By: | November 28, 2018


According to a global pay-trend analysis by ECA International, countries in Asia will see the greatest salary increases next year.

India tops the international rankings for 2019, with a forecasted real salary increase of 5.1%,

Vietnam and Indonesia round up the top three, while other emerging Asian markets populate most of the remaining top ten.

“Low inflation and rising productivity mean that many Asian economies, and therefore local salaries, are growing rapidly,” Quane said.

The more developed markets of Singapore and Hong Kong will see more muted real increases, of 2.6% and 1.9% respectively.

ECA International’s regional director Lee Quane said that these figures are still better than the predicted pay increases in some advanced economies such as Australia, New Zealand, and Japan.

In reference to Hong Kong, specifically, Quane noted that because the territory is one of the most well-established economies in the region, salaries “are already substantially higher than most in the region and therefore do not increase as dramatically as many of the emerging Asian economies that are above them in the survey.”

The ECA’s Salary Trends Survey analysed current and projected salary increases for local employees from 289 multinational companies in 69 countries across the world.

Check out the global and Asia-Pacific top 20 rankings for real salary increases below.

Global   Asia-Pacific
Countries Ranking   Countries Ranking
India 1 India 1
Vietnam 2 Vietnam 2
Indonesia 3 Indonesia 3
China 4 Thailand 4
Thailand 4 China 4
Bangladesh 6 Bangladesh 6
Cambodia 7 Cambodia 7
Sri Lanka 8 Sri Lanka 8
Korea Republic 9 Malaysia 9
Malaysia 9 Korea Republic 9
Ukraine 9 Singapore 11
Morocco 12 Pakistan 12
Singapore 12 Taiwan 12
Pakistan 14 Philippines 14
Peru 14 Hong Kong 15
Taiwan 14 Myanmar 16
Kazakhstan 17 Macau 17
Russia 18 New Zealand 18
United Arab Emirates 19 Japan 19
Philippines 20 Australia 20
Saudi Arabia 20