Despite the current economic slowdown and social unrest, ECA International said Hong Kong workers can expect an average real salary increase of 1.4% above inflation in 2020.
ECA International is a provider of information, software and expertise for the management and assignment of employees around the world.
The real salary increase in 2020 is higher than the 1% rise in Hong Kong this year, according to ECA.
However, the real increase of 1.4% will be the lowest in Asia Pacific, said ECA adding that the nominal salary in Hong Kong would hit 4% and inflation 2.6%.
“Although this is still lower than the overall APAC average, the fact that the nominal increase will remain at 4% in 2020, as it was last year, is surprising given the backdrop of the current economic situation in Hong Kong,” said Lee Quane, regional director - Asia at ECA International.
However, this underlines the fact that many companies in Hong Kong need to continue to attract and retain staff even in this period of economic adversity for the city, he added.
