Spain's average salary lags behind EU, US, Canada but Offers Lower Cost of Living

According to its article, Forbes unveils that Spain's average annual salary in 2023 was approximately $31,000, which places it on the lower end compared to other European Union countries. 

Spain consistently ranked as one of the top destinations for travelers in 2024, with various regions of the country featured on numerous "Best Places to Travel in 2025" lists by Bloomberg and CNTraveler. In 2024, Spain was also the third most searched country for Americans considering travel or relocation, following Canada and the UK, and ahead of Mexico and Italy. 

In the CNTraveler 2024 Readers' Choice Awards, Spain was ranked fifth on the list of Best Countries in the World, with praise for Barcelona's two spots among the Best 50 Bars in the World and Spain's renowned food and drink culture.

The Canary Islands also appear on Bloomberg's Best Places to Travel in 2025, highlighted for their evolved tourist scene that offers visitors a mix of hiking through dramatic landscapes, shopping in charming boutiques along cobbled streets, and relaxing on the beach with a book. Among the islands, Tenerife, Gran Canaria, and Lanzarote stand out, with Lanzarote being noted for its new luxury resorts and exceptional culinary and wine offerings.

Additionally, CNTraveler named Matarraña in Spain as one of the Best Places to Go in 2025, citing its natural beauty, pristine stargazing, waterfalls, hiking trails, and picturesque villages.

Within the EU, Spain stands out for its lower cost of living compared to some neighbors like France, where living expenses are 25 per cent higher.

However, when rent is included, Spain becomes slightly more expensive than France, with average rents in Spain being nearly 9 per cent higher. This might still seem reasonable when compared to rental prices in North America, where, on average, rent in Canada is 59 per cent higher than in France, and rent in the US is 52 per cent higher than in France.

Spain's average annual salary is relatively low compared to other EU countries. However, it is higher than the average salaries in Portugal, at approximately $23,000, and Malta, at $21,500 (€21,000), according to Malta's Office of National Statistics.

Spain's salary levels are similar to those in Italy and Slovenia but fall below those in France, Germany, and Ireland. Despite this, the cost of living in Spain remains much lower than in most other EU countries, with the exception of Barcelona and Madrid.

In comparison to the US and Canada, Spain's average salary is significantly lower. In the US, depending on the state, average salaries range from $76,000 in Massachusetts, New York, and California to around $49,000 in states like Mississippi, Arkansas, and West Virginia. In Canada, the average salary is about $45,000 (CAD 63,013), varying by province.

By Naila Huseynova