The average annual full-time adjusted salary for employees in Cyprus reached €27,611 in 2024, according to new Eurostat data — marking a steady increase from €26,668 in 2023 and €24,203 in 2022. Despite this upward trajectory, Cyprus continues to sit below the EU-27 average and lags behind several countries with similar economic profiles.

Across the European Union, the average full-time adjusted salary climbed to €39,800 in 2024 — a 5.2% increase compared with €37,800 in 2023. Cyprus’ figures remain roughly 30% lower than the EU average.

Luxembourg once again topped the EU ranking with an average salary of €82,969, followed by Denmark (€71,565) and Ireland (€61,051). At the bottom end of the spectrum were Bulgaria (€15,387), Greece (€17,954) and Hungary (€18,461).

Cyprus places in the lower-middle tier of the EU salary landscape and ranks 15th out of the 27 EU Member States.

Notably, countries with strong digital and financial sectors — like Ireland and Luxembourg — continue to widen the gap with the rest of the bloc, highlighting structural differences in productivity, industry mix, and cost of living.

The 2024 EU salary map shows widening divides:

• Northern and Western Europe saw moderate but steady growth.

• Southern Europe (Spain, Italy, Portugal, Greece) remains comparatively low.

• Eastern Europe has seen the fastest growth — but from a very low base.

Countries like Poland (+37% in two years), Romania (+40%), and Lithuania (+20%) show how rapidly wages are converging in formerly lower-income economies.