Discover the world's top paying countries in 2024
In a recent report by Numbeo, the world's largest cost of living database, stark disparities in average monthly net salaries across the globe in 2024 have been highlighted.
The report, which ranks countries based on their average after-tax salaries, puts Switzerland at the top of the list with an impressive $6,470.12.
While Western nations like Luxembourg ($5,312.93) and the United States ($4,570.42) come behind Switzerland in second and third place respectively, Asian nation Singapore and Chinese territory Hong Kong closely follow to make up the top five on the list.
However, countries in Africa, Latin America and the rest of Asia show vastly different economic pictures.
Africa
In Africa, South Africa stands out with an average monthly net salary of $1,285.16, ranking it 38th globally. It is followed by Mauritius, positioned 63rd with $576.11. Other African nations like Morocco and Kenya are further down the list, earning $422.81 and $393.94 respectively, placing them in the 76th and 77th positions.
Notably, Nigeria and Egypt appear towards the lower end of the list, with incomes of $172.62 and $126.44, ranking 93rd and 95th globally.
Asia
Asia presents a mixed bag, with Singapore ($4,451.01) and Chinese territory Hong Kong ($4,048.85) featuring in the top five globally. China leads the rest of the region with an average monthly net salary of $919.93, placing it 46th globally. Other notable Asian countries include India at $627.26 (59th globally), Thailand at $518.76 (68th), and Vietnam at $430.06 (73rd). Despite the region's rapid economic growth, disparities in income persist, reflecting varying levels of development and financial structures.
On the other end of the spectrum, we have countries like Bangladesh at $248.68 (88th globally), Nepal at $213.85 (89th globally), and Sri Lanka at $196.29 (90th globally) with some of the lowest average salaries in the world.
Latin America
In Latin America, Uruguay leads the region's rankings at 41st place globally with a monthly salary of $1,148.15. Close behind are Costa Rica and Panama, with average monthly net incomes of $918.99 and $792.59 respectively, ranking them 47th and 51st.
Brazil, one of the largest economies in the region, ranks 75th globally with a salary of $423.76. At the very bottom of the list, Venezuela stands at 91st with a meagre income of $188.10, reflecting the severe economic crisis the country has been experiencing.
Meanwhile, Qatar tops the Middle-eastern nations at $4,036.57 (6th globally) followed by the United Arab Emirates at $3,477.13 (8th globally).
