Aeon forecast a slight rise from 4.7% in 2023 but lower than in Indonesia (6.5%), the Philippines (5.5%) and Malaysia (5%). Singapore wages are expected to rise 4%.
Vietnamese workers will see a whopping 8% salary rise this year, compared with 7.5% in 2023, the survey projected.
Aeon said the modest growth in Thai workers’ pay was due to a slowdown and uncertainty in the Thai economy.
“Salary adjustment for employees has become a challenge for many businesses trying to maintain their competitiveness,” said Rahul Chawla, Aeon’s head of Talent Solutions for Southeast Asia.
“One of the strategies to ensure success is to maintain a flexible manpower structure,” he added.
Aeon forecast Thai retail workers will see the biggest salary rise this year at around 6.1%, followed by those in the technology field (6%), bioscience and medical…
