Stats Gate

Ranked: Worst (And Best) Countries In The World To Live For Minimum Wage Earners, 2020

Factory Workers

As it turns out, Uzbekistan is the world’s worst country to live for minimum wage earners in 2020, according to the CEOWORLD magazine report. However, high food prices are eating up a significant portion of the compensation that minimum wage earners in Uzbekistan took home. According to the report, minimum wage earners in the country spend 253.8% of their monthly salary on essential food items alone.

In January 2020, monthly net pay received by minimum wage earners in Uzbekistan stood at $23, 10.1 percent higher than $20.68 they got in the same month last year. That placed Uzbekistan at the first spot out of 54 countries tracked by the CEOWORLD magazine in terms of rate of increase in minimum monthly wage year-on-year. In comparison, the minimum monthly salary jumped 1.4% in neighboring Kazakhstan and 10.1% in Turkmenistan this month.

The best ratio of food prices to the minimum wage was noted in Australia, followed by the United Kingdom, Ireland, and the Netherland. In these countries, workers spend less than 9% of their monthly pay on essential food products, CEOWORLD magazine reported.

“In countries like Nigeria and Uzbekistan, the minimum monthly wage is so low that it does not cover the costs of even the most basic shopping basket,” CEOWORLD magazine said. Essential food products include ten items bread, cereals, rice, vegetables, legumes, fruits, milk, cheese, meat, eggs, and alternatives.

Factory Workers

Uzbekistan has been recognized as the world’s worst country to live for minimum wage earners in 2020, according to the CEOWORLD magazine report, while Nigeria and the Philippines placed second and third, respectively.

The 2020 rankings placed Turkmenistan in fourth ahead of the Islamic Republic of Pakistan into fifth, while Kazakhstan ranked sixth and Malaysia seventh. Overall, among the top 10 worst countries to live for minimum wage earners, the eighth, ninth, and tenth positions are held by Malaysia, Thailand, and Vietnam.

These are the worst countries in the world to live for minimum wage earners, 2020

RankCountryYear to year increase in the minimum wage (percentage)Gross Minimum Monthly Wage (USD)Basic Food spending (percentage)
1Uzbekistan10.123253.8
2Nigeria64.874121.4
3Philippines10.211675.1
4Turkmenistan10.120867.3
5Armenia25.211161.8
6Pakistan, Islamic Republic of2.311459.3
7Kazakhstan1.49858.7
8Malaysia3.421954.7
9Thailand1.622351.6
10Vietnam5.719150.2
11Moldova6.312550.1
12Russia7.516644.8
13Mexico2019144.7
14Belarus13.615643.9
15Azerbaijan37.714043.3
16Ukraine13.215742.1
17Turkey12.734141.2
18Peru3.824534.8
19South Africa5.423534.8
20Columbia617333.5
21Brazil3.323032.1
22Bulgaria88.826829.5
23Chile1831829.2
24Montenegro1524629
25Argentina37.125327
26Latvia3.433925.6
27North Macedonia15.926125.6
28Croatia8.348424.7
29Serbia15.528423.8
30India9.720623.7
31Romania6.631323.4
32Hungary8.135721.8
33Hong Kong8.795820.4
34Czech Republic7.652518.3
35Slovakia9.151917.9
36Lithuania7.647117.7
37Greece10.960517.6
38South Korea2.5139017.1
39Poland14.948515.5
40Portugal5.862615.5
41Slovenia4.977514.9
42Estonia6.661014.6
43United States2.3111914.1
44France1.2135012.7
45Belgium4137011
46Canada2.6138311
47Luxembourg0.819899.5
48Germany1.913589.3
49Spain1.411639.2
50Saudi Arabia33.310679
51Netherland1.216558.6
52Ireland2.717437.3
53United Kingdom4.815317.3
54Australia2.119237

Meanwhile, Australia ranked No. 1 in the CEOWORLD magazine’s ranking of the best countries to live for minimum wage earners. The United Kingdom came in 2nd place, followed by Ireland (3rd), the Netherland (47th), Saudi Arabia (5th), and Spain, ranked 6th.

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Emma London

Emma London

Associate Editor
Emma London is the Associate Editor at CEOWORLD magazine. She covers lists, rankings, economy, geopolitics, global banking, fintech, digitization of money, and the future of finance for CEOWORLD magazine. She’s also a member of the Board of Directors at the Global Business Policy Institute. Prior to that, Emma was the ultra-high net worth (UHNW) valuations subject matter expert at CEOWORLD magazine, mentoring research teams in valuations’ techniques, and was involved in product development for ultra high net worth (UHNW) and high net worth (HNW) dossier creation, currently heading research operations at the Global Business Policy Institute. She can be reached on email emma-london@ceoworld.biz. You can follow her on Twitter at @ceoworld.