Nordics: average annual earnings by country 2023 | Statista (2024)

FAQs

Nordics: average annual earnings by country 2023 | Statista? ›

Luxembourg had the highest average annual wage in Europe in 2023, at approximately 85,500 U.S. dollars when adjusting for purchasing power parity (PPP).

Luxembourg had the highest average annual wage in Europe in 2023, at approximately 85,500 U.S. dollars when adjusting for purchasing power parity (PPP).

the average monthly salary in Sweden is $4,200; the average salary in Sweden per hour is $28.49.

Norway is top of the Nordic ranking. GDP Per Capita (PPS Euro). 2021.

According to the Organization for Economic Co-operation and Development, the average annual salary in the US was $77,000 in 2022, compared with $52,700 (PPP) in France. The purchasing power parity adjustment is reassuring but incomplete. Above all, the higher cost of living reflects stronger economic development.

Average Wages

According to recent data, the gross average monthly salary is typically around 3,000 to 3,500 euros. However, after deductions for taxes and social security contributions, the net average monthly salary that residents take home is generally closer to 2,100 to 2,600 euros.

What is the difference between Norway and Sweden in terms of quality of life, education, cost of living, etc.? The cost of living is higher in Norway, but salaries are also higher.

Within the 27 states of the European Union (EU), compensation of employees can show significant differences. In France, the median salary is 15.2 euros in the private sector, according to figures dating back to 2018.

Which is richer, Norway or Sweden? ›

Why is Norway so much richer than Sweden and Denmark, when they're so close together? In a global perspective, Norway is not much richer than our Scandinavian neighbors. Our GDP per capita is about 50% higher than Sweden's and 30% higher than Denmark's. Adjusted for purchasing power, the difference drops to about 20%.

Yes. Norway's GDP per capita is about $75,000 per annum whereas Finland's is about $50,000. Norway also has a trillion+ dollar sovereign wealth fund accumulated over many decades where income generated by the Norwegian state oil and gas company is invested in.

From 2011 to 2022, Sweden had the highest gross domestic product (GDP) of the Nordic countries. In 2022, it was estimated to be at 591 billion U.S. dollars, and is expected to reach almost 720 billion in 2027.

However, after the fall of the oil price in 2014, Norway's GDP per capita decreased, but is still the highest in the region, and it increased to over 105,000 U.S. dollars in 2022. Moreover, while Iceland had the lowest GDP per capita together with Finland in 2015, it had the second highest in 2023 ahead of Denmark.

Denmark and Finland have more diversified economies, with Denmark having a slightly higher GDP than Finland.

Sweden – A Blend of Innovation and Tradition

Known for its high quality of life — ranking first globally — and a robust social welfare system, Sweden offers a secure life overseas.

Luxembourg. If you're curious about which country pays the highest salary in Europe, look no further than Luxembourg. Despite being one of the world's smallest nations, Luxembourg takes the lead with an impressive average monthly salary of 7418 US dollars.

Luxembourg is the wealthiest country in the European Union, per capita, and its citizens enjoy a high standard of living. It is a major center for large private banking, and its finance sector is the biggest contributor to its economy.

The highest salaries were in Switzerland and the lowest in Bulgaria. To learn more about the ranking of the best cities for expatriate employment in 2024, please follow the link.