Morocco has emerged as the top-ranking African nation for average monthly wages, according to a recent report by CEOWORLD magazine.
In 2024, Morocco recorded an average monthly wage of $1,657 USD, securing the 48th spot globally.
Data for the report was sourced from the United Nations Economic Commission for Europe (UNECE) Statistical Database, ensuring reliability.
The figures represent gross average monthly wages, including salaries, benefits, bonuses, and other compensation before taxes and deductions, across the entire economy.
According to the report, countries facing significant economic challenges reported much lower average wages. Lesotho, Angola, and Malawi rank lowest in the report with averages of $24, $27, and $31 USD respectively, attributed to lower GDP per capita and economic hardships.
In the Arab world, the United Arab Emirates boasts the highest average monthly wage at $3,663 USD, placing 18th globally. Qatar follows closely at 22nd with $3,168. Notable mentions include Saudi Arabia, Kuwait, Bahrain, Oman, and Lebanon.
Switzerland leads the global rankings with an average monthly wage of $8,111 USD, followed closely by Luxembourg, the United States, Iceland, and Norway.
These countries, known for their robust economies and high living standards, reflect their citizens’ salaries accordingly.
The report highlights sectors such as finance, insurance, electricity, mining, information technology, retail, and education for offering the highest compensation.
Conversely, administrative support, hospitality, and construction tend to offer lower wages.
Despite Morocco’s top-ranking in Africa, the report underscores the significant global disparity in average wages. Factors like inflation, exacerbated by the pandemic and geopolitical tensions, impact the purchasing power of wages.
While Morocco’s achievement is noteworthy, the report emphasizes the importance of strong economies and stable political environments in ensuring a high standard of living for citizens.
It’s worth noting that, the CEOWORLD report, conducted by their Economics and Policy team, analyzed data from 196 countries to compare average monthly wages. The goal was to identify nations with the highest and lowest salaries.
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