Workers in Malaysia to see 2.8 pct real salary increase in 2022 - ECA

KUALA LUMPUR: Employees based in Malaysia are expected to see a real salary increase of 2.8 per cent in 2022, up from a growth of 1.5 per cent this year, according to the latest Salary Trends Report by employee management data and software provider ECA International.

The report said Southeast Asian nations, including Malaysia, Indonesia, Vietnam and Thailand, would be among countries expected to see the fastest rate of salary increase next year versus 2021 as their economies recover from the effects of the COVID-19 pandemic and international travel resumes.

ECA International Asia regional director Lee Quane said Indonesia and Malaysia were among the countries most impacted by the pandemic and are expected to see some of the biggest jumps in rates of salary growth in Asia-Pacific in 2022, as their respective economies start to return to normality.

"If these countries are able to keep inflation under control in 2022, the improved economic outlook will mean that real salary increase rates for workers in these countries will be some of the highest in the region," he said in a statement today.

The report said real salary increases for workers were predicted to average 1.9 per cent across the Asia-Pacific region in 2022.

"This is higher than any other region, with the global real salary increase forecast to be just 0.9 per cent on average.

The annual Salary Trends report analyses current and projected salary increases in more than 70 countries and cities across the world.

-- BERNAMA