Low wages is not something to be acceptable to most, but the swift rise in population and poor economic condition of the country are the sure causes of it. Especially in developing and underdeveloped parts of the world, people are getting extremely low salaries even after working for hours. Whereas such countries also attract the most investors from around the world, cheapest labour available and skilled workers are the major target of these investors to get the most profit out of least investment. Unfortunate as it seems. Still today there are millions of people who are earning as low as the cost of a single burger in America per month. Today we will discuss the ten countries with cheapest labour in the world.
TOP 15 COUNTRIES WITH CHEAPEST LABOUR IN THE WORLD
List of countries like these comprises of mostly the African states and few Asian states. Here are the 15 countries with cheapest labour having lowest rates of labour-ship.
15. MADAGASCAR – $490 PER YEAR
The country has mixed culture which is predominantly African. It has a rich history and cultural diversity reflected through its hardworking people. It is one of the leading tourist attraction of Africa and also the leading potential target of the investors, as the country has the cheapest labour rates of $0.23 per hour, making a total of $ 490 annually.
14. GHANA – $488 PER YEAR
Another African state, Ghana is an average income state. Its service industry contributes to the 50% of the total GDP of the country. While the manufacturing sector accounts for 24% share in the GDP. In Ghana the cheapest available labor costs only $0.23 per ever hour. It has an estimate of $488 per year.
13. TAJIKISTAN – $487 PER YEAR
Though the country is full of fascinating landscapes, historical places and interesting culture, this land doesn’t serve to be a good earning place for its labors. Labors on average can earn $487 in a whole year. This is the reason that many of its citizens have migrated to Russia in order to find work at reasonable wages.
12. THE DEMOCRATIC REPUBLIC OF THE CONGO – $472 PER YEAR
Congo takes you to the wild side of Africa, which is perhaps the world’s richest country due to its never-ending reserves of natural resources. Investors find Congo and heaven on the earth in terms of their profit. But it’s the people of Congo who are not given the benefits of living in the beautifully state. Their long day hard work is only paid in low wages, which combine estimate to a total of $472 in a year.
11. LIBERIA – $435 PER YEAR
Liberia is that African state which is facing a swift economic uplift. It has provided better grounds for business as the labor here is quite cheap and affordable. Workers here willing to work at the cost of $0.17 per hour.
10. MALAWI – $412 PER YEAR
Malawi is not only the leading tourist spot in the region but also the country with the cheapest available rates of labor in the world. Its economic status is completely dependent upon the foreign donations and loans. So it’s facing a staggering financial condition in the country. Minimum wages here equals to $0.17 per hour.
9. GUINEA-BISSAU – $372 PER YEAR
The magical sandy beaches are not the only major attraction of this country .most of the businessmen are tempted the cheap labor available in the country. It’s a good market for fishery, exports of groundnuts and cashew nuts. Minimum wages for the laborers are as low as $ 372 per year.
8. VENEZUELA – $361 PER YEAR
Venezuela has the largest oil reserves in the world, yet the country is economically staggering. Its reserves and resources are not fully exploited for the better interest of its people. Hence the people there has to work on extremely low salaries, which is estimated to about $361 per year.
7. THE GAMBIA – $317 PER YEAR
Gambia is a small African states with quite a meager economy, striving against poverty. State’s economy is mainly dependent on agriculture and tourism. These sectors however failed to provide improved living for the people and better wages. Laborers there can only earn upto as minimum as $317 per year. This is the reason that about a third of its people lies below the average poverty line.
6. TANZANIA – $240 PER YEAR
Tanzania is another country in the list of countries with cheapest labour. It is an African state which provides wildlife tourism and beautiful landscape. It has also the largest freshwater lack of Africa. It’s a developing state with poor infrastructure and below the line economic conditions. The yearly income of its laborer gets only $ 20 month.
5. BANGLADESH – $228 PER YEAR
It’s a small beautiful country which is rich in its resources. Each year the inhabitants face grave danger of cyclones, floods, traffic congestions and corruption. Its cheap labor is famous throughout the world. Diligent people of Bengal work day and night to get the minimum wages of $228 per year.
4. KYRGYZSTAN – $181 PER YEAR
This landlocked Asian state stands forth in the list due to the average low wages of $181 per year. The country is a landlocked Asian state, therefore it’s a tough market for business but the cheap labor makes it easy and attractive for the investors. Kyrgyzstan is at fourth number in the list of countries with cheapest labour.
3. CUBA – $108 PER YEAR
This beautiful island tempts visitors through its beauty every year, almost 2 million people visit the place to explore its landscape and colonial architecture. It has even the lower the labor wages than the rest. The minimum wages in Cuba goes down to the hourly rate of $0.05
2. GEORGIA – $96 PER YEAR
Georgia lies on the border of Europe and Asia with a small area covering the land of 69700 kilometer squares. Though it has a small population but the economic condition is not much favorable for the laborers as the minimum income of the workers there is $ 96 per year.
1. UGANDA – $22 PER YEAR
37,800,000 people inhabit this African state. With second largest freshwater lake and abundant natural resource, the country also stands out for its cheapest labour in the world. This translate to the minimum wages of $0.01 per hour. Uganda tops in the list of countries with cheapest labour.
List of Top 15 Countries with Cheapest Labor in the World
|Sr. No||Name of the Countries||Minimum wages (per year)|