2020 APAC salary predictions are in, and it looks to be in line with 2019 actual salaries. Salary increases in Asia varies from 3 to 10%, with India seeing the highest salary increase in both 2019 and 2020 at 9.9% and 10%, respectively.
Emerging markets such as Pakistan, Bangladesh and Vietnam are expected to have salary increases upwards of 9%. The projected salary increase in APAC is averaging to be 5.7% in 2020. Will this expected increase in Pakistan, Bangladesh and Vietnam drive talent to these emerging markets more than usual?
Corporates who have expatriates in APAC and are needing to decide whether to repatriate, extend or localize their assignees will need to take the average salary increase on a yearly basis into account to ensure the localization packages are competitive. Interested in more information related to localization, try this.
With planning for 2020 underway in most organisations, timely data by Willis Towers Watson has provided a yearly outlook on actual and projected salary increases in 2019 and 2020 respectively, across 20 markets, including Singapore, Malaysia, Thailand, Indonesia, and more. With continuous pressure on businesses in the region to keep costs down, salary increases in APAC remain stable at an average of 5.6% this year (same as 2018), slightly lower than the projected increase of 5.9% last year, per the latest Salary Budget Planning Survey Report (Q3). For 2020, the projected salary increase at the regional average is expected to be 5.7%.