2024-12-15
Wages in Thailand are rising, and this is expected to have major implications for the country's labor market by 2025. Wage increases reflect economic growth and can affect everything from business costs to workers' living standards.
Thailand's workers can look forward to a 5% wage increase in 2025, according to consulting firm Mercer. This is the same rate of increase as in 2024 and shows a continued strong labor market.
Highest paying industries
Health, biotechnology and food remains the highest paying sector in Thailand, offering 20% higher wages than the average. Which tops the list as the best paying sector, with salaries 20% higher than average. The automotive industry stands out with the most short-term incentives, such as bonuses, making up 23% of compensation packages.
All companies raise wages
For the first time, 100% of the companies surveyed plan to raise wages next year. Additionally, over 90% of companies offer bonuses, and more provide long-term incentives such as stock options.
"It is clear that companies are investing in their workforce to retain talent in a competitive market," said Thira Laulathaphol of Mercer.
Text: The editorial staff
Image license: wal_172619, CC BY 3.0, original image