Taiwan’s economy is rich, but its workers are not

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60 per cent of workers had not received a raise in their income in three years, while 12 per cent had gone a decade without a salary adjustment.

PHOTO: REUTERS

Summary

• Taiwans tech sector booms due to AI demand, driving record exports and GDP growth forecasts, benefiting mainly chip engineers.
• Non-tech sectors and traditional industries struggle, with stagnant wages, increased living costs, and widening income gaps affecting many workers.
• Rising wealth inequality may impact the ruling DPP in the 2028 election, as voters prioritise economic needs alongside geopolitical concerns.

AI generated

TAIPEI – After working full-time for four years, Taiwanese marketing specialist Sandy Chien decided to go freelance so that she can take on side gigs.

The 28-year-old wanted to supplement her income in other ways, as her salary at a local restaurant group had “barely moved”.

“I did not feel like there would be good development opportunities for me if I stayed in that job for much longer,” she told The Straits Times.

“Is Taiwan’s economy really doing so well? I cannot tell.”

Taiwan’s

technology-driven economy is booming

But the effects are not being felt broadly by Taiwanese working in non-tech sectors, as income gaps widen and wages remain stagnant.

“The proceeds of the export boom have largely flowed to firms in the tech sector, with few