How have minimum wages evolved during the COVID-19 crisis throughout the world? In many countries, including Portugal, the national minimum wage rose, and in the specific case of Portugal, minimum wage (known in Portugal as SMN) rose by 4.2% during the pandemic from 565 euros (net) in 2020 to 592 euros in 2021. In a recent world ranking looking at minimum wage, Portugal comes 23rd (out of 53 countries) in the list with the highest increase in the minimum wage.
This study was carried out by Picodi and included 56 countries throughout the world where the minimum wage is determined by the government, with the figures in the ranking respresenting the net value that a worker takes home after all tax deductions.
Taking a closer look at the ranking, Ukraine is the country where the minimum wage grew most during the pandemic, rising by 27% to 143 euros. Turkey and Albania, in that order, complete the podium, with increases of 21.6% and 15.4% respectively.
The minimum wage in Portugal in 2021 stands at 592 euros per month which, compared to other countries such as the UK, New Zealand or the Netherlands, is significantly lower. However, if you're planning on moving to Portugal, keep in mind that cost of living is also significantly lower when it comes to lifestyle, as well as buying or renting property.
- Check out the full Picodi ranking of the countries with the highest increase in minimum wage during the pandemic.
