Expats in Asia and Latin America will see higher salaries in 2014

Published:  26 Nov at 6 PM
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Results of a recent survey on salary trends suggest that expats working in Latin America will see the highest salary increases in 2014.

The Salary Trends survey, initiated by ECA International, revealed bad news for UK employees, who may only receive 3 per cent rises, if any at all. With inflation in the UK taken into account and the recent swinging increases in power prices and commuter rail tickets, it seems British workers will feel no relief from hard times.

The UK is second only to Finland as regards the miserliness of employers as regards salary increases, with inflation at the present time taking its toll at around 2.5 per cent. On the other hand, workers in the Ukraine and Russia can expect 8 per cent rises next year.

Greece and Switzerland are also forecasting very little in the way of salary hikes, with 2 per cent the maximum in both countries. However, inflation in both countries is close to zero, leaving their citizens very slightly better off in real terms than those of several other states.

Over the whole of Europe, the average wage increase next year is expected to be around 3.5 per cent, and the overall increase taking into account all 64 regions and countries is anticipated at just under 6 per cent. Lucky workers in Asia and Latin America may be overjoyed with 11 and 10 per cent increases respectively, but inflation will hit hard, leaving just 1 per cent more in their pockets.

Venezuelan workers are forecast to get 26 per cent rises next year, but with inflation forecasts standing at 38 per cent, they’ll need to cut back on their lifestyles, with Argentina in a similar position. Chinese salaries are due to go up by 8 per cent but, with the government controlling inflation, workers will have 5 per cent more to spend.
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