Date
11 December 2017
Most Hong Kong workers can expect a 5 percent pay rise, according to a business survey. Some may get as much as 10 percent. Photo: HKEJ
Most Hong Kong workers can expect a 5 percent pay rise, according to a business survey. Some may get as much as 10 percent. Photo: HKEJ

Employers planning 5% pay rise

Hong Kong employees can expect a pay rise of about 5 percent next year, the Hong Kong Economic Journal reported Thursday, citing a survey by the Hong Kong General Chamber of Commerce.

More than 70 percent of members plan to raise the salaries of their employees next year, with nearly half saying the increase could be as much as 5 percent.

Another 17.8 percent might give a 5 to 10 percent pay rise and less than 1 percent said they would freeze or cut wages.

Meanwhile, a majority of the respondents said they expect the economy to grow 2 to 4 percent in the next two years.

About 68 percent said Hong Kong’s competitiveness decreased over the past year.

David O’Rear, the chamber’s chief economist, said the economy will be more resilient to the external environment next year compared with this year.

Also, he expects the impact of the two-month-old street protests on consumption and tourism to diminish over time.

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VW/JP/RA

Freelance journalist

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