New data shows the monthly disposable incomes of people living around the world, including South Africa.
Using research compiled by Numbeo, Movehub.com published an infographic which shows that people living in Switzerland, Luxembourg, and Jersey, off the coast of Normandy, France, have the highest disposable incomes in the world.
It should be noted that the latter two countries have a population of approximately 550,000 and 100,000 respectively.
The average person in Switzerland can expect to take home $6,300 (R75,000), after tax. People in the US have average personal disposable income of $3,258 (R38,900) per month, while the UK’s average disposable salary is $2,960 (R35,300).
Cuba, with $25 (R300) has the lowest disposable income average in the world, according to Numbeo’s data.
South Africa has the third highest average disposable income in Africa at approximately $1,400 (R16,710), according to the data – only slightly higher than Mauritus at $1,337 (R15,958) and a stretch from Malawi at $1,098 (R13,106).
Angola, at $2,650 (R31,760) and Gabon at $1,742 (R20,877) are the highest and second highest disposable income countries, respectively, Numbeo’s data shows.
The Numbeo data, which is based on user-submitted reports and some official data, sits slightly outside more specific local data on disposable income in the country, showing an inflated number.
Top 10 average bankable salaries, global
|10||Cayman Islands||$3 313|
New data from BankServAfrica’s Disposable Salary Index (BDSI) shows that take-home income in SA has seen the biggest increase in five months – outstripping inflation.
The group’s data showed that disposable income stood at R12,051 in February 2015, up 8.9% from R11,067 during the same period in 2014. With inflation taken into account, this year on year increase sits at 4.8%, with February’s inflation at 3.9%.
Trading Economics data shows that the average salary (before tax) in South Africa is approximately R178,000 per annum, or R14,900 per month, which is also under the Numbeo report.
When the BDSI launched in July 2012, the median salary of workers in the formal sector sat between R8,000 and R9,000, where 25% of take-home salaries were below R5,000.
In January, BankServ reported that the number of workers banking under R4,000 had declined by 12.8% since 2013, showing a marked improvement in pay over the years.
Previously reported data, however, shows that more than half the South African population still earns less than R3,500 a month.
Top 10 average bankable salaries, Africa
|56||South Africa||$1 400|