India is ready to witness a Global Wage hike in 2023, this is followed by Vietnam and China revealed a recent survey. Only 37 per cent of countries are expecting to report real-term salary hikes as inflation is surrounding next year.
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- India is one of the top 8 countries that is expected to witness salary hikes in 2023.
- India’s neighbours i.e. India and Pakistan are placed right at the bottom of this list.
- Europe is likely to be the worst-hit region, as per the survey.
India is set to see the highest global salary hike by 4.6 per cent, in 2023, according to a survey by workforce consultancy ECA International. Asian Nations have made eight of the top country’s real salaries rise. This comes at a time when average salaries fell by 3.8 per cent in 2022.
ECA Salary Trends survey is based on collected information from over 360 multinational companies in 68 countries and cities. Bloomberg Reported.
India and Vietnam (4.0 per cent), China (3.8 Percent), and Saudi Arabia (2.3 Percent) are the nations expected to witness wage hikes in 2023. While Pakistan (-99 per cent), and Ghana (-119 Percent) are expected to highest decreases. Whereas UK Employees suffered the biggest hit this year since the survey kicked off in 2000. Despite a 3.5 per cent average nominal pay increase, salaries in real terms fell 5.6 per cent due to 9.1 per cent average inflation. They are set to tumble by another 4 per cent next year.
