Salaries in Asia Pacific projected to grow the most globally in 2021

Salaries in Asia Pacific projected to grow the most globally in 2021

Salaries in Asia Pacific are forecast to grow at a greater rate than any other part of the world in 2021, in a signal that employers believe the region is emerging from the worst of the pandemic.Asia Pacific pay packets are expected to rise by an average of 4.3% next year, up from 3.2% in 2020, even as global wages falter, according to a new salary report released Thursday by consultancy firm ECA International.After accounting for inflation, that translates to average regional real wage growth of 1.7% — well ahead of the global standard of 0.5% despite comparable average inflation rates.The top 10 nationsIndonesia leads the charge for 2021 salary increases in a top 10 dominated by eight Asia Pacific countries.The Southeast Asian nation is forecast to see real wage growth of 3.8% in 2021, up from 2.6% in 2020, as employers walk back wage freezes and inflation continues to fall.Second-place Israel's real wage growth ranks somewhat behind at 2.8%, just slightly ahead of joint third-place nations Singapore and Thailand's 2.7%. Colombia, also at 2.7%, is the only other non-Asia Pacific nation to make the top 10."Few countries are expected to see a significant rise in the level of real