Lower Salary Increases Expected in 2017, For Most Of Asia Pacific

As per a report by Willis Towers Watson, salaries in Asia Pacific are expected to increase by 5.9% in 2017.

For 2016 they had predicted an increase of 6.4%. However, the actual salary increase in Asia Pacific was 5.8%.

If the same pattern plays out in 2017, then Willis Towers Watson expects an actual increment that is a fair bit lower than 5.9%. That will make it the third consecutive year of declining budgets for salary increments.

bonus-salary-increment-asia-2017

If these numbers are adjusted for inflation, then the real salary increase in 2017 is projected to be 2.9% in Asia-Pacific, as compared to an actual increase of 3.5% in 2016.

Here is a breakdown of the numbers for several countries across Asia Pacific.

Country Projected Salary Increase %

(2017, After Inflation)

Vietnam 6.4
Bangladesh 5.0
Pakistan 5.0
China 4.9
Philippines 4.4
Thailand 4.4
India 4.3
Indonesia 4.3
Cambodia 4.0
Singapore 3.2
Malaysia 3.1
Japan 1.9
Hong Kong 1.7
Australia 0.9
Myanmar -2.2

 

“We are seeing lower salary increase budgets across much of the region,” stated Sambhav Rakyan, Business Leader, Asia Pacific, at Willis Towers Watson.

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