The average full-time annual salary in Cyprus in 2024 came to 27,611 euros, roughly €12,200 below the European Union average of €39,800, but well above Greece’s €18,000, according to the latest Eurostat data.
The gap with the EU mean rate highlights wide pay disparities across Europe, with Luxembourg leading the pack at €83,000 per year, followed by Denmark (€71,600) and Ireland (€61,100). At the bottom of the list are Bulgaria (€15,400), Greece and Hungary (€18,500) with the lowest averages.
Despite trailing the EU average, Cypriot wages have been steadily rising. The average full-time salary grew from €24,203 in 2022 to €26,668 in 2023, reaching €27,611 in 2024.
The EU as a whole also saw growth, with the average annual salary climbing 5.2% from €37,800 in 2023 to €39,800 in 2024.
The figures underline Cyprus’ lower-middle position in the EU wage hierarchy but also show gradual gains, giving workers a small silver lining as the island navigates rising living costs.
However, the conclusion of an agreement about an increase to the Cost of Living Allowance (ATA) will likely boost the salaries of Cypriot workers.
