Daily Management Review

Real wages growth: Top 5 countries


01/11/2018


Experts of the consulting company Korn Ferry analyzed situation in different countries of the world. They compiled a rating of the countries with greatest growth of real wages in the coming year.



Derek Jensen
Derek Jensen
1. India

Projected growth in 2018: 4.7%

Over the past two decades, the economy of India has experienced a steady growth. However, if we compare different social groups, geographic regions, and rural and urban areas, economic growth has not been uniform.

Recently, thanks to the presence of a large number of English-speaking professional professionals, India has become an outsourcing destination for many multinational corporations and a popular destination for "medical tourism".

India has also grown into a significant exporter of software, as well as financial and technological services.

2. Vietnam

Real wage growth in 2017: 7.2%

Projected growth in 2018: 4.6%

Vietnam is an agrarian country with a developing industry. It is characterized as mixed and the state plays main role in the economy.

The market share is small, and mainly consists of small enterprises.

3. Ukraine

Growth of real wages in 2017: -1.9%

Projected growth in 2018: 4.4%

The basis of the Ukrainian economy is multisectoral industry, agriculture and services. Since the III quarter of 2012, the country has experienced a steady decline in GDP.

Since 2014, industrial production decreased by 10.7%, according to the State Statistics Committee of Ukraine.

Most affected industries, the main potential of which is concentrated in the east of the country, are the production of coke and refined products, chemical products, metallurgical products, engineering products.

4. China

Growth of real wages in 2017: 4%

Projected growth in 2018: 4.2%

The country is an economic superpower, a permanent member of the UN Security Council.

One of the leading space powers in the world, China possesses nuclear weapons and the largest army in the world in terms of the number of servicemen.

China is the world leader in the production of most types of industrial products, including cars and consumer demand for them.

The world's largest exporter, the country has the world's largest gold and currency reserves.

5. Indonesia

Projected growth in 2018: 3.4%

For the economy, with its market nature, the active role of the state is characteristic: it owns approximately 140 large enterprises in various sectors of the national economy, and also controls prices for a number of goods, including basic food products and fuels and lubricants.

source: kornferry.com






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