The Economic stability of any country relies completely on the wellbeing of its citizens, the better the manpower the more strength a country gets. Therefore it is necessary to motivate its inhabitants through proper wages and other basic incentives to work and invest the best of their potential into the progress of the country. Better wages or salaries do not only upgrade the standard soft living but help to uplift the literacy rate, health conditions and keep the society morally strong and enthusiastic.
The range of salary packages provided to the citizens however completely depended upon the financial status of the state and also the corruption free system run by its government, the better the transparency in the system the more the money keeps circulating into the basic veins of the society with more regularity.
Today we will discuss the major Top 10 Countries with highest Salaries in the world.
1. UNITED STATES
The existing super power of the world has strengthened its nation with the wise policies integrated into its financial framework. The U.S comes to first in the list of Top 10 Countries with highest Salaries. Employment for everyone has always been the top priority of the government no matter to what ideology they belong to. The citizens of America have the highest possible incomes in the world which are the result of the fine economic background of the state. According to the figures, the sum total of salaries earned by its citizen on average is equal to $42,050 annually.
Ireland comes to the 2nd in the list of Top 10 Countries with highest Salaries in the world. It is the country with advanced technological services and well-established industries. Their economy entirely relies upon the wellbeing of an education system. Ireland has the second highest average income per citizen in the world. The total count of the disposable income of Ireland is equal to $41,170 per year. In the recent years, the figures were increased by $531.
Luxembourg is among the top 3 states which have the highest salaries in the world. Banking and finance industry are 2 major tools driving the economy of the country. It has remained the center of many great investments and after the United States; it is the second biggest investment center in the world. Though the gross income of the country is even greater than Ireland but the drop in the disposable income has shown the figures of $37,997 per year.
The country of sheer beauty and diversity is 4th on the list which its disposable income as high as $35,471/year on average. Switzerland is placed at the fourth position in the list of Top 10 Countries with highest Salaries in the world. There are many sectors in Switzerland which have excelled in producing the skilled workforce and leaned the country towards progress and advancement. These sectors mainly include health and pharmaceutical industry, measuring and musical instruments. Tourism is another great source of generating income.
Australia is one of the diversified and biggest land areas with the potential of generating high revenue out of the natural resources and the manufactured products. It is placed at the 5th level in the list of Top 10 Countries with highest Salaries in the world. Most of the products are being exported to help add the figure to country’s gross income which has now reached to $44,983 per year where the disposable income of its citizens has now estimated to be $34.952 per year.
6. UNITED KINGDOM
The United Kingdom has sufficiently rich historical background and has service industry working to share the 75% of the share of the GDP of the country. The U.K is placed at the 6th position in the list of Top 10 Countries with highest Salaries in the world. It is the most attractive tourist spot and its Europe’s magnate to help increase the sum total of the country’s gross income. However, the disposable income of U.K is estimated to be $33.513 per year.
Canada is one of the most developed states on the face of the world which has excelled greatly through its oil and gas producing industry. It has vast reserves making it the major exporter of the region. It has the second largest oil reserves in the world. This tells a lot about the country’s growing and strong economy. This economic prosperity has resulted in extremely reasonable work wages for each working citizens. Not only they are employed at high salaries but also are aided through many other facilities and insurances.
Norway is a self-sufficient country bestowed with the great reserve of natural resources. It generates great revenues through its oil, forestry, minerals, fish and hydropower. Being a capitalist state the country’s major stakes are owned by the government. The annual yearly wages account to the average total of $31,101 which seems to be a considerable amount out of the total generated income of the country i.e. $43,990 per year.
9. SOUTH KOREA
South Korea has one of the fastest growing economies in a whole of Asia. It is the major importer and exporter of the world and the country earns great revenue through international trade. The country has evolved significantly in the IT world and has major workforce engaged in the field. The yearly income of the country has reached to an average of $35, 406, out of this total almost $31,051 are reserved in the name of average yearly salaries of the total employees working in different spheres of life.
Netherland is placed at the 10th level in the list of top 10 countries with highest salaries. It is a country rich in production. The average annual income has reached to $47,056 consequently it has also increased the range of salary packages given to the citizens. Netherlands has one of the largest ports of the whole of Europe, thus providing the route to major trade and businesses. It opens gates to major German and English markets. Despite the 37.8% drop in the income the country is still managing to provide $29,269 as the sum total of salaries per year.
List of Top 10 Countries with highest Salaries- Ranking, Names & Average Annual Income
|Rank||Countries||Average Annual Income (Dollars)|
|1||United states of America||$42,050 per year|
|2||Ireland||$41,170 per year|
|3||Luxembourg||$37,997 per year|
|4||Switzerland||$35,471 per year|
|5||Australia||$34,952 per year|
|6||United Kingdom||$33,513 per year|
|7||Canada||$32,662 per year|
|8||Norway||$31,101 per year|
|9||South Korea||$31,051 per year|