At the time, the supply of skilled individuals in the field fell short of meeting the required headcount, creating a talent shortage. As a result, salaries experienced an upward spike as companies competed to attract and retain the limited pool of highly skilled tech workers.
From 2022, the tech market in APAC experienced some turbulence. The global tech market ran into a period of 'high inflation and elevated interest rates,' according to one summary from Deloitte, and macroeconomic uncertainty led to 'softening consumer spending, lower pro
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