Outsourcing or offshoring decisions can be tricky, especially without the correct information about the country you’re planning to outsource to.
For example, you should have a thorough understanding of the salary structure and average income in the country before starting your operations there. It’ll help you do a cost-benefit analysis and understand if the transition would be feasible or profitable.
But it can be tricky to find reliable and consolidated information on average salaries worldwide.
Not anymore.
We’ve put together a list of insightful average salary articles to get you started.
In the article, we’ll share detailed average salary guides for 30 highly sought-after outsourcing and offshoring destinations globally.
Let’s get started.
30 must-read articles to stay updated on average salaries worldwide
Each of the average salary posts shared below highlights the key statistics around the specific country’s:
- Average salary (monthly and annual data).
- Average salary range (averages of highest and lowest salaries).
- National median salary.
- Minimum wage, etc.
You’ll also get a clearer perspective on the country’s salary structure through in-depth salary comparisons, covering all factors that influence employee income.
These articles do more than just throw numbers. They’ll help you get an insight into the country’s economy, its outsourcing potential, benefits, industry niches, and much more.
And to help you navigate the list conveniently, we’ve divided it based on the continents. Let’s kick things off with Africa.
A. Africa
Few African countries are fast emerging as popular outsourcing destinations for US and Europe-based companies. Here’s a detailed salary analysis for three such countries:
1. South Africa
South Africa is one of the most popular outsourcing destinations in Africa, thanks to business-friendly policies and excellent infrastructure.
The post highlights how the multi-lingual South African workforce is helping the country scale new heights in customer support outsourcing and why it should be on your preferred list for outsourcing/offshoring your finance and accounting operations.
2. Egypt
This tourist hotspot in the middle-east has carved a niche for itself in the IT outsourcing and customer service business. Find out the national average salary and minimum wage in Egypt to assess the country’s feasibility for your business.
3. Morocco
Morocco has a high availability of inexpensive labor, making it a good outsourcing option. Over the years, organizations like the World Bank and the UN have taken significant strides in making the country’s youth job-ready.
Read this informative post to find exact average salary and wage figures, as well as other factors that make Morocco an untapped outsourcing market.
B. Asia
Asia boasts numerous developing economies with skilled workforces, advancing infrastructure, and business-friendly policies, making it an outsourcing bastion.
Take a deep dive into the salary structure of some of the leading outsourcing hubs in Asia:
4. China
China is the biggest economy in Asia and an outsourcing/offshoring powerhouse, thanks to the abundance of skilled human resources.
Analyze the city-wise average salary distribution to understand which Chinese city you should outsource your operations to.
5. Dubai
Favorable tax laws and investment-friendly policies ensure that businesses globally are keen to invest in Dubai.
The article will walk you through the federal law in the UAE around minimum wage, as well as the cost of living in Dubai, to make accurate budget estimates.
6. Hong Kong
Hong Kong Special Administrative Region (SAR) attracts foreign investments through business-friendly policies and top-notch infrastructure.
But you should stay updated on the latest average salary and minimum wage data before you hire any workers in the country.
7. India
Lower salaries and a robust IT infrastructure are two of the many factors that have helped India become an established player in the global outsourcing market.
See how the average salary in the country fare against the USA (United States of America), UK (United Kingdom), Norway, etc., and get a peek into the market size of the Indian IT industry.
Here’s a detailed guide on outsourcing to India.
8. Indonesia
Check out the average monthly salary in Indonesia and see how it compares with countries around the world.
The article also highlights how a huge workforce available at an affordable rate has helped this southeast Asian country emerge as a competent business destination.
9. Japan
Japan has spearheaded global technological innovations for a long time now. This comprehensive guide will help you understand the cost and legal requirements in employing the highly skilled Japanese workforce.
10. Malaysia
Check out the differences between the average income of full-time employees in Malaysian cities like Kuala Lumpur, Putrajaya, and others. Also, learn about digital initiatives in the country that are helping it attract more foreign investments.
Learn more about Malaysian outsourcing with this informative post.
11. Pakistan
A young workforce and affordable labor costs make Pakistan a solid outsourcing competitor in the subcontinent region.
Find how much it will cost you each month or year to hire a freelance software engineer or graphic designer from the country. And get the latest stats for the country’s key economic indicators like Gross National Income (GNI) per capita and annual household income per capita
12. Russia
Read through this detailed guide to find how Russia’s GDP and average salaries compare with the United States of America and see if the country fits your outsourcing needs.
13. Singapore
Singapore is a highly open economy with cutting-edge infrastructure to support businesses of any size and scale. However, the country has a high cost of living, which translates to bigger employee paychecks.
Go through the country’s salary data and employment-related legal provisions (aimed to prevent wage theft and safeguard employee rights) to assess if you should outsource there.
14. South Korea
South Korea ranks among the top OECD countries on parameters like reading literacy, science, and mathematics. This lays a solid foundation for the country to produce a skilled workforce.
The article will help you estimate the cost of building a high-performing South Korean team by presenting the latest average annual wage and monthly salary data.
15. Taiwan
Taiwan is among the top 25 economies globally and has one of the most job-ready workforces in Asia.
Find the average salary range and the updated minimum wage (2022) in Taiwan to estimate salary costs.
16. Thailand
Low average salaries and operating costs in Thailand make it a leading outsourcing destination in southeast Asia. But make sure that you stay updated on the legal provisions in the country that aim to safeguard the interests of all stakeholders in an outsourcing transaction.
17. The Philippines
This insightful post explains why the low average income in the Philippines doesn’t hurt its working population and is a big plus for businesses. It also highlights the factors behind the phenomenal growth of the BPO sector in the country.
18. Vietnam
Before you set up a team in Vietnam, find out more about provisions like the 13th salary, Tet bonus, and understand the classification of minimum wages based on region.
C. Europe
Europe is home to many advanced economies like Germany, France, the UK, Luxembourg, Switzerland, Norway, etc. At the same time, the continent has many emerging economies which offer ideal outsourcing conditions to developed European and global economies.
Let’s explore the average salaries in the four European countries perfect for outsourcing:
19. Cyprus
Although geographically located in Asia, Cyprus is a part of the European Union. It’s among the European countries that don’t have a fixed minimum hourly wage, alongside Austria, Denmark, Finland, Sweden, and Italy.
Go through the article for detailed information on the payscale structure in Cyprus.
20. Poland
Find out the difference between Poland’s national average and median salaries in this in-depth guide.
The article also shows how economic parameters like average income per capita, average monthly wage (adjusted for purchasing power parity or PPP), and GDP in Poland compare with OECD averages.
21. Romania
Romania has a vast pool of skilled software developers and holds around 20% of the total IT&C employees in Central and Eastern Europe.
Find out how much you’ll need to spend on building a development team in the country or hiring a freelance Romanian programmer. And get a detailed comparison of minimum wage in Romania with other European Union countries like Portugal, Spain, Estonia, Netherlands, etc.
22. Serbia
Learn how employee salaries in Serbia vary with location, education, and experience levels. The article also lays out key rules concerning employee benefits and rights that businesses outsourcing to the country should be aware of.
23. Ukraine
This Eastern European country ticks all the right boxes as a competent outsourcing destination.
Check out four industries and sectors that Ukraine has excellent infrastructure and outsourcing support for.
D. North America
Similar to Europe, North America has a few viable outsourcing hubs that not only attract American or Canadian companies but global businesses as well.
Here are the average salary guides for two such countries:
24. Mexico
Discover the lowest and highest average salary and minimum hourly wage for Mexican employees and the per capita income for some popular job titles in Mexico.
Also, explore the four key benefits of outsourcing to Mexico along with some key labor statistics.
25. Costa Rica
Did you know that Costa Rica has no fixed hourly minimum wage and has different pay rates based on occupation, job title, and skills?
Read the article for more information on why Costa Rica is one of the most lucrative outsourcing destinations in Latin America.
E. South America
Due to their strategic location and minimal time difference, several South American countries have become a go-to nearshoring option for companies in the US and Canada.
Outsourcing to South America also enables these companies to operate at a fraction of the cost compared to cities like New York, San Francisco, San Jose, etc.
Let’s check the salary and income data for popular outsourcing markets in South America:
26. Argentina
Get access to a comprehensive data set on average wage and salary in Argentina, both in Argentine Peso (ARS) and US dollars (USD).
Also, see insightful stats on how the Coronavirus affected Argentina’s economy and how the country’s GDP per capita fares against the global average.
27. Bolivia
Bolivia offers key advantages over other popular outsourcing destinations in South America like Brazil and Argentina. Learn more about these benefits and see the country’s average wage and salary data for 2022.
28. Brazil
Brazil is the largest economy in Latin America and has some solid outsourcing advantages, including skilled human resources.
Check out the difference between average income and median income in the country and other valuable salary insights in the post before you hire a Brazilian team.
29. Colombia
Colombia is one of the most inexpensive countries in the world, making it an ideal outsourcing center for global companies. Find out the average annual salary and minimum hourly wage in Colombia and compare it to countries like the USA, Luxembourg, Switzerland, etc.
30. Panama
Thanks to its strategic geographical location, Panama is a bridge between two continents (North America and South America) and two oceans (Pacific and Atlantic), making it an ideal shipping and transport hub.
Read the article to learn which professions in Panama earn high salaries and which industries afford the best increment rates to their employees.
Wrapping up
Average salary and other related indicators like median salary, per capita income, household income, etc., help businesses assess the economic viability of running operations from a different country.
By considering these factors, they can make informed business decisions, especially related to outsourcing, offshoring, or nearshoring.
Use the salary data and economic insights shared in the average salary articles to evaluate if a particular country fits your business needs.
