Hong Kong ranks 39th in most increase in minimum wage in a year

The minimum wage in Hong Kong increased by 6.7% in the last year.

Hong Kong ranks 39th out of 67 countries surveyed in the most increase in minimum wage in a year, a report by Picodi Hong Kong revealed.

Currently, the minimum net wage in Hong Kong is $6,933, which is 6.7% more than last year ($6,500 net).

The top five countries with the highest increase in minimum wage are Argentina (138.4%), Turkiye (99.9%), Nigeria (83.3%), Pakistan (29.3%), and Moldova (23.1%).

In the report, Picodi Hong Kong used net wages, which employees take home to compare the increase.

The report also found out that the cost of basic food is at $1,801, 0.95% more than last year. This represents 26% of the net minimum wage compared to last year where it was at 27.4%. This means that the increase in Hong Kong’s minimum wage kept up with the rise in food prices.

In this regard, Hong Kong places 40th out of 67.