Dominican Republic, highest cost of living, lowest wages, poll

DominicanToday.com  - Dominican Republic is the most expensive economy among the seven Central American countries and despite  having the highest cost of living, has the lowest wages, revealed Alvaro Alan yesterday in the presentation of the results of a PriceWaterhouseCoopers survey.

The poll also found that despite the crisis the companies were able to raise their workers’ wages as much as 12% this year.

As to earnings it also found that companies aren’t doing as well as in previous years.

Alan said the survey, presented yesterday in the hotel Meliá Santo Domingo, analyzed the wages in the Dominican market, which he said is quite aggressive, providing benefits for its executives and the rest of the personnel, such as company vehicles and insurance.

He said the Dominican Republic fares worst when compared with Costa Rica’s and Panama’s wage levels. “It could approach close to the average, but less.” He acknowledged that it’s a market reality and a gradual process which must continue improving in the Dominican Republic.

On the region’s wage increases Alan listed Honduras at 12.4%; Costa Rica 14.5%; Nicaragua 9.7%; El Salvador 3.2%, and Panama 6,3%.

The PriceWaterhouseCoopers survey in Dominican Republic took into account a practice of more than 15 years and polled more than 1,100 companies subscribed in Central America.

Go back | Date: 08 Aug 2009
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