What are the salaries in Europe, explained in an illustrative graph

Rivers of ink flowed, recommending which countries had the best restaurants, the best pensions, and even which European countries had the happiest citizens. But no one is going to talk about differences in wages that exist between countries within Europe?

Across the vast landscape of the European economy, average salaries paint a picture of diversity and complexity. Today we’ll dive into a detailed analysis of hourly wages across the continent, using a chart created by VisualCapitalist based on data that Eurostat released a few days ago. It clearly shows how the purchasing power of citizens, separated only by a line marking the border, varies sharply.

It no longer matters whether the country has the largest number of millionaires or whether its cities have become golden havens for millionaires. average hourly wage On average, it reflects the income that employees receive for their work.

How much do they pay per hour of work in Europe?

It is ironic that one of the smallest countries on the continent is one that highest average salary. We are talking about Luxembourg, which, thanks to its economy based on financial services, has one of the highest average salaries – 47.2 euros per hour.

This is not surprising because, despite its small size, the Grand Duchy has the highest GDP in Europe, according to the International Monetary Fund.

They are followed by the Scandinavian countries: Denmark is in second place with an average salary of 42 euros per hour, followed by Norway with 41.7 euros and Iceland with 39.5 euros per hour worked, ranking fourth in the table.

Finland remained behind in this group, falling to ninth position with 30 euros per hour.

He The average hourly wage in Europe is 24 euros per hour.which fills the wage gap that exists between Sweden, which is in twelfth place with 26.3 euros, and Slovenia, with 21.9 euros, next on the list.

We need to drop down to fifteenth position in the table to find Spain, which, with 18.2 euros, is halfway between Italy (21.5 euros) and Cyprus (16.3 euros). Spain occupies a central position in the table Thanks to the successive increases in media and wage growth recorded in recent years, they have not been left behind in European economies.

Similarly, a visualization of Eurostat data shows the wage gap that exists between countries in northern and western Europe compared to countries in the south and east of the continent, reflecting differences in economic development and wealth resulting from recent geopolitics. a past marked by the Iron Curtain.

Countries whose economies suffered greatly from Soviet influence, such as Bulgaria has the lowest average salary in Europewith 8.1 euros per hour, ahead are Romania with 10.4 euros, Latvia with 10.7 euros or 11 euros and 11.9 euros for Hungary and Poland, respectively.

The diagram also shows the policy challenges Europe faces in creating a common regulatory framework when the economic realities of its citizens are so different.

In Hatak | The countries that work the most are not the countries that earn the most. The proof is in this graph

Image | VisualCapitalist.com