10 nations where most businesses will offer salary hikes
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The good news for the global economy is that two-thirds of businesses (66%) are planning to offer workers a pay rise at least in line with inflation, says a Grant Thornton International Business Report report.
Employees in Latin America (86%), the Nordic region (84%),North America (79%) and South EastAsia (75%) are most likely to get a pay rise in 2013.
Workers in the Eurozone (56%), especially in Southern Europe (35%), are least likely to get a raise, says the Grant Thornton report. In fact, 31% of businesses in Greece and 10% in Spain plan to reduce salaries over the next 12 months.
Take a look at the 10 countries where maximum number of businesses are set to offer 'real' salary increases (those above the rate of inflation)...
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Photographs: Reuters.
10 nations where most businesses will offer salary hikes
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Thailand (Rank 1)
Thailand tops the rankings with 42% of businesses planning to offer salary hikes in the next 12 months.
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Photographs: Courtesy, Thailand Tourism.
10 nations where most businesses will offer salary hikes
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Peru (Rank 2)
Percentage of businesses offering a salary hike: 29%
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Photographs: Reuters.
10 nations where most businesses will offer salary hikes
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Brazil (Rank 3)
Percentage of businesses offering a salary hike: 29%
In Brazil, interest rates have fallen to record lows with the central bank apparently tolerating inflation above 5% in a bid to stimulate the economy.
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Image: The moon rises above buildings in Salvador, Brazil.
Photographs: Gary Hershorn/Reuters.
10 nations where most businesses will offer salary hikes
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India (Rank 4)
Percentage of businesses offering a salary hike: 28%
India is among countries that offer higher salaries and higher selling prices, suggesting the central bank will have to closely monitor an inflation rate.
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Image: Employees work at their desks inside Tech Mahindra office building in Noida on the outskirts of New Delhi.
Photographs: Adnan Abidi/Reuters.
10 nations where most businesses will offer salary hikes
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Chile (Rank 5)
Percentage of businesses offering a salary hike: 28%
Rising inflation over the next 12 months is a big challenge in Chile.
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Image: Ruben Torres, dressed in a Santa Claus outfit, and fishermen wave to people from a boat on Christmas Eve along the coast of Valparaiso city, about 121 km (75 miles) northwest of Santiago.
Photographs: Liseo Fernandez/Reuters.
10 nations where most businesses will offer salary hikes
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Turkey
Percentage of businesses offering a salary hike: 26%
Turkey faces a wage-price spiral, a vicious cycle where the two sides of the wage bargain (employers and employees) try to keep up with inflation to protect real incomes (profits and salaries).
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Image: A shoe-shiner waits for customers in the border city of Kilis, southeastern Turkey.
Photographs: Reuters.
10 nations where most businesses will offer salary hikes
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South Africa
Percentage of businesses offering a salary hike: 26%
South Africa also faces a threat from rising inflation.
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Image: A man rides his bike past the Lonmin mine outside Rustenburg, in the northwest of Johannesburg.
Photographs: Siphiwe Sibeko/Reuters.
10 nations where most businesses will offer salary hikes
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Germany (Rank 8)
Percentage of businesses offering a salary hike: 23%
Germany appears to help boost consumer demand by raising salaries faster than selling prices.
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Photographs: Reuters.
10 nations where most businesses will offer salary hikes
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Australia (Rank 10)
Percentage of businesses offering a salary hike: 22%
Inflation is a major challenge in Australia.
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Photographs: Reuters.
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