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  • Tepid 1.9pc pay rise predicted for HK workers
    Date:2018-11-23 

    Hong Kong workers can expect an average pay increase of 4 percent next year, according to a global pay-trend analysis by ECA International.

    The human resources consultancy said the real increase would be 1.9 percent, adjusted for inflation, and that is down slightly from this year's 2 percent, RTHK reports.

    Lee Quane, ECA's Asia Regional director, said the forecast is lower than the average for the Asia-pacific region, but is better than the predicted increases in some economies, including Australia and Japan.

    The company forecasts that workers in mainland China will get a 6.5 percent pay raise next year.

    Quane said he does not think the higher increase will tempt Hong Kong workers to move across the border.

    "In Hong Kong, we benefit from a relatively low rate of tax, so we don't really think that high rates of salary increase in both Guangzhou or Shenzhen are going to cause a lot of competitiveness."

    He said the figures also suggest that companies in Hong Kong are not too concerned about the Sino-US trade dispute just yet.

    "In spite of what they feel is going on in terms of the global economic situation, in order to keep people working for them, they still need to offer them a relatively high rate of salary increase."



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