In emerging markets

The countries of Central and Eastern Europe compete for investment with locations in other emerging markets in Asia, Latin America or Africa as well as with lower-tier developed markets.

In the table below, earnings in selected emerging markets are compared with average earnings data for countries from the CEE region.

It is important to note that:

  • gross earnings data are not fully comparable owing to different coverage (whole economy, economy excluding agriculture, manufacturing only) and varying methodologies;
  • the levels of additional costs on top of gross earnings vary between countries.

Comparison with other markets well illustrates the internal diversity of the CEE region where some countries command earnings levels similar to those in lower-tier high income economies, while at the other end of the spectrum some CEE locations are among the lowest cost worldwide, on a par with China.

In Slovenia and Croatia average gross earnings are at a similar level to those in lower-tier high income economies.

In the case of Slovenia they are higher than in Hong Kong, Taiwan or Portugal and very close to Israel’s. For Croatia they are on a par with Hong Kong and Taiwan.

The rest of Central Europe and the Baltic states, although lagging behind Portugal or Asian newly industrialised economies, command earnings higher than in most emerging markets and similar to those in Taiwan and Turkey.

Romania and Russia have earnings levels more typical of other major emerging markets, particularly in Latin America.

The countries with the lowest earnings, Bulgaria and Ukraine, had earnings lower than in most of Latin America and similar to those in China, Thailand or in impoverished countries of the CIS such as Georgia.



Average monthly gross earnings in US$,

selected countries 2009

Country

$
Singapore
2 663
Spain
2 584
Israel
2 030
Slovenia
2 007
Portugal
1 719
Croatia
1 460
Hong Kong
1 415
South Africa
1 306
Taiwan
1 277
South Africa
1 243
Czech Republic
1 268
Estonia
1 090
Slovakia
1 039
Poland
996
Hungary
988
Turkey
943
Latvia
912
Montenegro
894
Bosnia
856
Lithuania
826
Argentina
798
Brazil
676
Macedonia
676
Chile
667
Serbia
653
Romania
619
Russia
593
Malaysia
590
Costa Rica
570
Kazakhstan
458
Bulgaria
420
China
402
Mexico
384
Azerbaijan
371
Belarus
357
Georgia
338
Armenia
280
Thailand
253
Moldova
247
Ukraine
245
Kyrgyzstan
146
Tajikistan
74
Source: Database Central Europe