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According to the European statistics office, in 2024 Luxembourg has the highest minimum wage €2,570.93. Next on the list are Ireland (€2,146.30) and the Netherlands (€2,070.12), which occupy second and third place in the table, respectively.
In 2023 the second and third places in the ranking were occupied by Germany and Belgium, respectively, which were now, in 2024, overtaken by Ireland and the Netherlands.
Also noteworthy, as mentioned above, is the entry of Poland (977.53 euros) into the top 10, having made a jump of more than 30% compared to January 2023 – and dethroning Portugal from the top 10.
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Worth noting is that purchasing power in Poland is higher than in Portugal by about 20% so that 977 EUR is equal to 1200 EUR in Portugal.
By Robert from Beiras on 18 Feb 2024, 09:20
Worth noting that the marginal income tax on the highest incomes in Poland is 32%, compared to 48% in Portugal. On a €150k yearly salary (not unusual for a high skill tech job), a worker in Poland gets to keep €8.510 / month, while in Portugal it's €6.417 / month.
NHR helped to offset some of the discrepancy, but at the cost of those who are already in Portugal. Shifting to a more competitive tax strategy is not easy in the short term, but can change a country's fortunes in the long run.
By Alex from Algarve on 19 Feb 2024, 08:49
@Alex, too many people are jealous of the rich and successful and want them brought down a peg or two, to deflect from their own often miserable situatuon. I can't see any government thinking there are votes to be gained by cutting the top rate of tax. Even worse is the Netherlands which has a starting rate of 37% income tax and social security combined, from the first Euro - there are no tax-free allowances. That means a part-time supermarket employee earning only €10,000/ year in the Netherlands loses 37% of it. The average tax rate in the UK on a salary of £100,000 is only 33% (including national insurance), so the Dutch are taxing the poor more severely than the UK taxes those who are comfortably off. It stands to reason: if you expect the government to provide everything for you, expect it to take everything from you. Failed Socialism at its best!
By Billy Bissett from Porto on 19 Feb 2024, 17:18
Moreover, Poland has an education system worthy of the name. The better the education, the higher the earnings
By Nick from Lisbon on 20 Feb 2024, 08:51