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Industry Watch released its regular report on cost of labor
submited on 31.01.2006 in category Macroeconomic developments
submited on 31.01.2006 in category Macroeconomic developments
In the Winter 2006 report, we update the comparative index of the cost of labor in the biggest cities. Sofia is still the most expensive place to find basic labor - about 6% more expensive than Varna and some 20% more expensive than Plovdiv.The cheapest labor may be found in Vidin – about half as cheap as the labor in Sofia.
Among the biggest cities, the highest wages expectedly we see in Sofia (some EUR 420 per month). Average monthly wages in Plovdiv, Varna and Burgas are very close to each other – roughly EUR 300. This is an indication that Bulgaria’s major cities attract capital at a similar pace and volume. The average wage in seven biggest Bulgarian cities, excluding the capital, is roughly EUR 260.
Data shows that housing, if measured in quantity of labor, in most of the big cities is undervalued compared to Sofia. The only exceptions are the sea-based Varna and Burgas, where the property market is highly speculative and asset sales to foreigners determine to a large extend the market trend. among the biggest five cities, Russe is still far behind in terms of relative property prices – an average residential property there is about 25% cheaper than in Sofia, measured in quantity of basic labor.
It seems that in the smaller towns it is easier to find basic labor than a started for firms’ administration. The wage of a starter in company’s administration is 30 to 35 per cent higher than the average pay for unqualified labor in the cities of Pazardjik, Vratza and Gabrovo.
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)
Among the biggest cities, the highest wages expectedly we see in Sofia (some EUR 420 per month). Average monthly wages in Plovdiv, Varna and Burgas are very close to each other – roughly EUR 300. This is an indication that Bulgaria’s major cities attract capital at a similar pace and volume. The average wage in seven biggest Bulgarian cities, excluding the capital, is roughly EUR 260.
Data shows that housing, if measured in quantity of labor, in most of the big cities is undervalued compared to Sofia. The only exceptions are the sea-based Varna and Burgas, where the property market is highly speculative and asset sales to foreigners determine to a large extend the market trend. among the biggest five cities, Russe is still far behind in terms of relative property prices – an average residential property there is about 25% cheaper than in Sofia, measured in quantity of basic labor.
It seems that in the smaller towns it is easier to find basic labor than a started for firms’ administration. The wage of a starter in company’s administration is 30 to 35 per cent higher than the average pay for unqualified labor in the cities of Pazardjik, Vratza and Gabrovo.
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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