Business

Thailand Increases Daily Minimum Wage Rates For 2022

Thailand has increased the daily minimum wage rates across all its provinces by an average of five percent. The last time the daily minimum wage increased was in 2020.As such, the new daily minimum wages range from 328 baht (US$8.59) at its lowest to 354 baht (US$9.27) at its highest. As of October 1, 2022, Thailand has increased the daily minimum wages by an average of five percent to help workers face rising inflation which is at a 14-year high. The last time the daily minimum wage increased was in 2020. Thailand’s minimum wage is decided by the Wage Committee, which takes into consideration several key factors before proposing a new daily minimum wage:

The cost of living index
Annual inflation rate
Price of goods and services
Production costs
Labour productivity growth rate
Business capabilities
Other macro and micro economic and social conditions.

The daily minimum wages vary from province to province. What are the daily minimum wages in Thailand? They range from the lowest at 328 baht (US$8.59) per day to the highest at 354 baht (US$9.27) per day. With the new revision, Thailand’s overall monthly minimum wage is at an average of between 9,000 baht (US$ 235) and 10,000 baht (US$ 261), making it one of the highest in ASEAN.