June 15, 2024

Athens News

News in English from Greece

Greeks rank second to last in terms of salaries in the European Union


It is not surprising that a new study published by the European Statistical Office shows that Greeks, together with Bulgarians, have the lowest per capita income and very low levels of individual consumption.

In October, our country also took first place in terms of the high cost of food, with an indicator of 10.3%. According to a World Bank report, Greece ranks 10th on the list of countries with the highest food inflation relative to overall inflation.

Even the unemployment rate of 9.7% is one of the highest in the eurozone: Greece is second only to Spain when the average EU is 6.5%.

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Another negative factor is the higher cost of housing in relation to income in the EU (34.2%). Additionally, while twelve EU member states recorded high citizen savings rates in 2022, only Greece had negative rates at -4.0%. Eurostat put us in last place, with a large gap from penultimate Poland. In addition, according to Eurostat, our country is in last place with 13.7% of GDP and “real investment”.

The highest salaries among 102 countries in the world are received in Switzerland, Luxembourg and Singapore. The last three places are Nigeria, Pakistan and Egypt. In Switzerland, the average monthly salary reaches 5,620 euros, in Luxembourg – 4,463, and in Singapore – 4,420. Also in the top ten are the USA, Iceland and Qatar, Denmark, the UAE, the Netherlands and Australia.

From 11th to 14th places were Norway (2980 euros), Canada, Germany and New Zealand (from 2790 to 2760 euros). Next in the ranking are Ireland, Great Britain, Finland, Austria, and Sweden.

The third ten countries in terms of salary level are Belgium, Israel and France – from 2406 to 2289 euros. In Japan, they earn 2,204 euros per month, in South Korea – 2,155 euros, in Spain – 1,775 euros, and in Italy – 1,556 euros. In the Czech Republic, the average salary is 1,470 euros, in Estonia – 1,353, in Cyprus – 1,335, in Slovenia – 1,227. Poland was lower than South Africa – 1,052 euros versus 1,058 euros. In 40th place is Portugal – 1001 euros.

Other countries:

  • Slovakia – 972;
  • China – 963;
  • Latvia – 950;
  • Greece – 820;
  • Bulgaria – 748.
  • Romania – 703;
  • Mexico – 664
  • Belarus – 490;
  • Kazakhstan – 463;
  • Moldova – 424;
  • Ukraine – 376 (83rd place);
  • Azerbaijan – 343;
  • Uzbekistan – 290.

The last ten are the Philippines, Tunisia and Libya. In Venezuela, the average salary is 166 euros, in Nigeria – 147. The lowest place is occupied by Egypt – with 134 euros.



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