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List of countries by average wage The average wage is a measure of total income after taxes divided by total number of employees employed. In this article, the average wage is adjusted for living expenses "purchasing power parity" (PPP).
Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living over time can be operationalized in a cost-of-living index. Cost of living calculations are also used to compare the cost of maintaining a certain standard of living in different geographic areas. Differences in cost of living between locations can be measured in terms of purchasing power ...
The United Nations Development Programme (UNDP) compiles the Human Development Index (HDI) of 193 nations in the annual Human Development Report. The index considers the health, education, income and living conditions in a given country to provide a measure of human development which is comparable between countries and over time. [1] [2]
Comparisons of national income are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries ( see List of countries by GDP (PPP) per capita ).
By comparing the cost of living in different cities and regions, you can better understand how far your salary can go in different parts of the country.
Comparisons of national wealth are frequently made based on nominal GDP and savings (not just income), which do not reflect differences in the cost of living in different countries ( see List of countries by GDP (nominal) per capita ); hence, using a PPP basis is arguably more useful when comparing generalized differences in living standards between economies because PPP takes into account the ...
Comparisons of per capita income over time need to consider inflation. Without adjusting for inflation, figures tend to overstate the effects of economic growth. International comparisons can be distorted by cost of living differences not reflected in exchange rates. Where the objective is to compare living standards between countries, adjusting for differences in purchasing power parity will ...
Average household income can be used as an indicator for the monetary well-being of a country's citizens. Mean or median net household income, after taxes and mandatory contributions, are taken as indicators of standard of living, because they include only disposable income and acknowledge people sharing accommodation benefit from pooling at least some of their living costs.