Report: Morocco Ranks 1st in Africa in Average Monthly Wages

Doha – According to a recent report by CEOWORLD magazine, Morocco has secured the 48th position globally and the 1st spot in Africa in terms of gross average monthly wages, with an average monthly salary of $1,657 (USD) in 2024.

The report, compiled by the Economics and Policy team at CEOWORLD, compared the average monthly wages across 196 countries to identify the nations that pay the highest and lowest salaries.

The CEOWORLD report highlights that the highest-paying countries in 2024 are Switzerland ($8,111), Luxembourg ($6,633), the United States ($6,455), Iceland ($6,441), and Norway ($5,665). These nations are known for their strong economies and high standards of living, which translate into higher average salaries for their citizens.

At the other end of the spectrum, the lowest-paying countries include Lesotho ($24), Angola ($27), and Malawi ($31). These nations face significant economic challenges and have lower GDP per capita, resulting in lower average wages for their workers.

Among Arab countries, the United Arab Emirates ranks the highest at 18th, with an average monthly wage of $3,663. Qatar follows closely at 22nd, with an average of $3,168. Other notable Arab countries in the ranking include Saudi Arabia (36th, $1,888), Kuwait (38th, $1,854), Bahrain (45th, $1,728), Oman (50th, $1,626), and Lebanon (74th, $837).

The gross average monthly wage estimates in the CEOWORLD report are computed by converting national currency figures from the United Nations Economic Commission for Europe (UNECE) Statistical Database. These figures are compiled from national and international official sources, such as the CIS, Eurostat, and the OECD.

The wages are expressed per full-time equivalent employee and cover the total economy, including wages, salaries, remuneration for time not worked, bonuses, and gratuities paid by the employer to the employee.

The report also emphasizes that the finance, insurance, electricity, mining, information technology, retail, and education sectors offer the highest-paying jobs, while administrative support, hospitality, and construction are among the lowest-paying sectors. This trend is also reflected in the volume of listings on online job boards such as Locanto, currently driving the
country’s digital recruitment market.

Furthermore, CEOWORLD acknowledges the impact of inflation on purchasing power, noting that many countries have experienced high inflation rates in recent years due to the pandemic and supply chain disruptions.

Geopolitical risks, such as the Russia-Ukraine conflict, US-China strategic competition, and the ongoing conflict in the Middle East, have also contributed to these economic challenges.