Cuba Minimum Wage - World Minimum Wage Rates 2024 (2024)

FAQs

Which country has the highest minimum wage in 2024? ›

The country with the highest minimum wage rate in Europe during the first half of 2024 was Luxembourg, with a minimum wage of 2571 Euros.

Cuba's minimum wage is fixed at CUP 2,100 ($87.52) per month.

However, it is widely reported that the average monthly salary for state workers — which still constitutes a large portion of the Cuban workforce — hovers around the mark of 750 to 1,000 Cuban Pesos (CUP), equivalent to approximately 30 to 40 USD as per the exchange rates before currency reforms enacted in January 2021 ...

Luxembourg. Luxembourg offers the highest minimum wage of any country worldwide at US$3,357 (€3,085) per month for skilled talent over the age of 18. Unskilled talent and talent under the age of 18 receive a lower monthly minimum wage: Unskilled workers 18 years of age and older: US$2,798 (€2,571)

We came to find that Cuba, though a land of great poverty, was wealthy in other ways. The passion, faith, and endurance found in the Cuban people is unmatched.

There is no such thing as a “fourth world” country. During a 2022 survey, around 55 percent of the Cuban population had a monthly income lower than 234 USD and only 15 percent had an income higher than 334 USD. More than half of Cubans struggle to buy what they need to live.

These people, on average can expect to earn upwards of the equivalent of $30 per day. I know many who earn double that and don't work very long hours either. $30 per day works out to the equivalent of $10 000 USD per year.

US dollars (USD) are very popular in Cuba and can be used for many small purchases and tipping. Euros are also widely accepted. So, you might pay for a drink at a bar in CUP, but then leave $1-3 USD or Euros as a tip.

Mean wage of households in Cuba 2023

During a 2023 survey, around 36 percent of the Cuban population had a monthly income lower than 104 U.S. dollars, and only 18 percent had an income higher than 417 USD.

Do Cubans accept US dollars? ›

Legally, the only currency you can use in Cuba is the Cuban peso (CUP). However, most Cubans would be glad to accept foreign currency, especially Euros or USD. If you haven't pre-booked and paid for accommodations, activities, or transportation, you could likely pay for these things in cash in foreign currency.

Minimum wages in China continue to rise. As of February 19, 2024, Shanghai has the highest monthly minimum wage among 31 provinces (RMB 2,690/US$370 per month), and Beijing has the highest hourly minimum wage (RMB 26.4/US$3.7 per hour).

As of 2022, Zimbabwe had the lowest average monthly salary of employees in the world in terms of purchasing power parities (PPP), which takes the average cost of living in a country into account. Rwanda had the second lowest average wages, with Gambia in third.

The comparison reveals that Aruba offers the highest minimum wage, followed by the Bahamas, Curaçao, and Sint Maarten. ...

The highest-paying countries in 2024 were Switzerland ($8111), Luxembourg ($6633), the United States ($6455), Iceland ($6441), Norway ($5665), Denmark ($5642), Canada ($5081), Greenland ($4665), Ireland ($4622), the Netherlands ($4581).

As of January 2024, Luxembourg has the highest minimum wage set at €2,571 per month. Luxembourg, Ireland, the Netherlands, Germany, Belgium and France, all have minimum wages above € 1,500 per month. At the other end, Bulgaria has the lowest minimum wage of €477.

The minimum wage has been revised in Germany, with effect from 01 January 2024. The minimum wage has increased from €12.00 to €12.41 per hour. Note: This minimum wage increase might not reflect the inflationary trends.

While there is no statutory minimum wage in Italy, research has suggested a minimum wage range of between €8.25 and €9.65 per hour. The actual wage rates, however, vary across different sectors, with the average hourly wage covered by these agreements being around €73.