The average salary in Cyprus is around €1,700 per month, but it varies depending on the industry and job position.
So let’s take a deeper look
In Cyprus, the average monthly salary is around €1,700, but this can vary depending on the industry and job position. According to the World Bank, the Gross Domestic Product (GDP) per capita in Cyprus was $29,128 in 2019. The country’s economy has been steadily growing over the years, with industries such as tourism, shipping, real estate, and financial services contributing greatly to the GDP.
One interesting fact about the Cypriot economy is that the country has a high percentage of small and medium-sized enterprises (SMEs), which account for around 75% of the total number of businesses. This shows that the economy is largely built on entrepreneurship and innovation.
Another interesting fact is that the minimum wage in Cyprus is currently €870 per month, which is higher than many other European countries. However, some argue that this is not a livable wage for many workers, especially considering the high cost of living in certain areas of the country.
In terms of earning potential, those working in the finance and banking sectors tend to earn the highest salaries in Cyprus, with senior management positions in particular commanding high salaries. On the other hand, those working in the hospitality and service sectors tend to earn lower salaries.
To further illustrate the range of salaries in different industries, we have created a table below based on data from the Cyprus Statistical Service:
| Industry | Average Monthly Salary (€) |
|---|---|
| Finance and Banking | 3,500 |
| Legal Services | 2,500 |
| Information and Communication Technology | 2,300 |
| Real Estate | 2,100 |
| Manufacturing | 1,800 |
| Education | 1,500 |
| Hospitality and Tourism | 1,100 |
In the words of Greek philosopher Aristotle, “Pleasure in the job puts perfection in the work.” It’s important to consider not only the earning potential but also one’s passion and enjoyment in their chosen industry and job position.
Overall, while there may be variations in earning potential in different industries and job positions in Cyprus, the country’s growing economy and high minimum wage make it an attractive destination for job seekers.
| Industry | Average Monthly Salary (€) |
|---|---|
| Finance and Banking | 3,500 |
| Legal Services | 2,500 |
| Information and Communication Technology | 2,300 |
| Real Estate | 2,100 |
| Manufacturing | 1,800 |
| Education | 1,500 |
| Hospitality and Tourism | 1,100 |
Other answers to your question
The average salary in Cyprus is around 26,000 EUR/year or 28,727 USD/year per the April 2023 exchange rate.
The average salary in Cyprus is around 2,341 Euros per month as of April 2022, according to the Ministry of Finance. In 2021, the maximum rate of the average wage for employees was 2,296 Euros per month and the minimum was 1,360 Euros per month. According to Salary Explorer, the average salary in Cyprus is around 2,160 EUR per month, or 2,387 USD per month, according to the April 2023 exchange rate.
As per the statistics from the Ministry of Finance, the average salary in Cyprus as of April 2022 is 2,341 Euros per month. In 2021, the maximum rate of the average wage for employees was 2,296 Euros per month and the minimum was 1,360 Euros per month.
According to Salary Explorer, the average salary in Cyprus is around 2,160 EUR per month, or 2,387 USD per month, according to the April 2023 exchange rate.