Trend Projections and How to Prepare
As we prepare for 2020 global financial budgeting, it is helpful to look at the historical trends in some key local economic factors. We also consider broader global trends for different economic groups to help place those trends in context for the near and medium term. We start by looking at some of the global outlook trends identified by International Monetary Fund (IMF) researchers in the recently released World Economic Outlook report.
An analysis of projections of 2020 salary trends across 71 countries was conducted to support businesses in next year’s salary increase budgeting. Here are the countries with the highest projected salary increases for 2020:
- Argentina 21.0%
- Pakistan 10.3%
- Vietnam 9.4%
- Kazakhstan 8.1%
- Uganda 6.6%
- Tunisia 6.5%
- Algeria 6.5%
- Costa Rica 5.2%
- Qatar 5.0%
- Bulgaria 4.2%
For a more in-depth analysis of next year’s salary projections, see ERI’s recent whitepaper “Planning Global Compensation Budgets for 2020”
Looking for more information?
Detailed salary data, including competitive salary levels and market benchmarks, can be found in ERI’s Salary Assessor
ERI Economic Research Institute compiles the most robust salary, cost-of-living, and executive compensation survey data available, with current market data for more than 1,000 industry sectors.
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