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Industry Watch released its regular report on cost of labor “Biggest Cities Review” – a joint survey with Vitosha Research.
submited on 20.06.2006 in category Macroeconomic developments
submited on 20.06.2006 in category Macroeconomic developments
Sofia offers the most expensive labor. The only city where numbers are close to the capital is Varna. In the second-biggest city Plovdiv, labor is about 20% cheaper than in the capital city, and about 10% cheaper than Burgas. The cheapest labor among the regional centers may be found in Vidin – about 43% cheaper than Sofia.
Differences in labor costs go hand in hand with differences in cost of living. One lev buys least services in Sofia, Varna and Burgas. Cost of living in Plovdiv and Russe are about 15% less than in the capital city. It is cheapest to live in Vidin, Dobritch, Sliven and Yambol.
Comparing real estate prices to labor costs confirms that in Sofia and in the cities on the seaside a home would be exchanged to the biggest quantity of labor. Labor is relatively more expensive (if measured in housing) in Plovdiv – by some 15%. Lately Russe has registered the most substantial rise in housing prices among major cities (in Q1 only they went up by 15%). Thus the city equaled with Sofia, Plovdiv, Varna and Burgas with respect to the relative cost of labor.
For most of the cities the starter wage is in the range of 200-300 leva. Migration of young people to the biggest cities keep the starter wage of admin stuff relatively high in the small cities. The wage of a starter in company’s administration is 20 to 30 per cent higher than the average pay for unqualified labor in the cities of Stara Zagora, Kardjali and Blagoevgrad.
Biggest Cities Review is the latest regular report in the Industry Watch research reports series. These are not studies commissioned by a specific client. Instead these reports are regular surveys on a specific topic selected by our economists. Biggest Cities Review is the first regular report, which is based on an empirical data collected exclusively for the report by Vitosha Research – a leading agency for marketing and sociological surveys (www.vitosha-research.com
Differences in labor costs go hand in hand with differences in cost of living. One lev buys least services in Sofia, Varna and Burgas. Cost of living in Plovdiv and Russe are about 15% less than in the capital city. It is cheapest to live in Vidin, Dobritch, Sliven and Yambol.
Comparing real estate prices to labor costs confirms that in Sofia and in the cities on the seaside a home would be exchanged to the biggest quantity of labor. Labor is relatively more expensive (if measured in housing) in Plovdiv – by some 15%. Lately Russe has registered the most substantial rise in housing prices among major cities (in Q1 only they went up by 15%). Thus the city equaled with Sofia, Plovdiv, Varna and Burgas with respect to the relative cost of labor.
For most of the cities the starter wage is in the range of 200-300 leva. Migration of young people to the biggest cities keep the starter wage of admin stuff relatively high in the small cities. The wage of a starter in company’s administration is 20 to 30 per cent higher than the average pay for unqualified labor in the cities of Stara Zagora, Kardjali and Blagoevgrad.
Biggest Cities Review is the latest regular report in the Industry Watch research reports series. These are not studies commissioned by a specific client. Instead these reports are regular surveys on a specific topic selected by our economists. Biggest Cities Review is the first regular report, which is based on an empirical data collected exclusively for the report by Vitosha Research – a leading agency for marketing and sociological surveys (www.vitosha-research.com
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