ACI HR Solutions has just released their annual ACI Report, a compilation of extensive data from the travel, tourism, hospitality and lifestyle industry across the Asia Pacific region in 2020. The report provides key insights to guide professionals and personnel in their prediction of salary and employment trends for the aforementioned industries in 2020.
In general, predictions this year are slightly more favourable compared to 2019, a reflection of the world’s shifting sociopolitical climate. Here are the key highlights from the study.
The above findings could possibly predict a slight improvement in the employment landscape this year due to expected easing tensions within the sociopolitical landscape, and a projected 3 percent growth of the economy. While the findings do not seek to offer precise predictions of what is to be expected for the year ahead, they serve to provide an indication of what might occur in 2020. The ongoing Brexit transition, the first phase of the US-China trade deal and the gradual improvement of the social environment could help provide clearer signs for the economy in the upcoming months.
2020 marks the 8th edition of the annual ACI report that uses a combination of qualitative and quantitative methods for the compilation of the data. Unique to this year’s report is an analysis of salary progression against the age of respondents. The report gathered a sample size of 808 experienced professionals in the travel, tourism, hospitality and lifestyle industry across the Asia Pacific region. 72 percent of these respondents have worked in their respective industries for 10 or more years, while 78 percent of them have stayed with their current employer for 5 years or less.