The average and minimum salary in Guatemala are useful for expats willing to invest or retire in this beautiful Central American country
The data for the average and minimum salary in Guatemala are a great way to analyze the economy of the country, which offers one of the lowest cost of living in the Americas.
Minimum Salary in Guatemala
Guatemala has a rather low minimum wages, but still higher than in countries like El Salvador and Nicaragua. The minimum salary in Guatemala is currently of 2,758 Quetzales per month in export factories. The minimum salary is higher in other sectors, at 2,992 per month, just slightly below 400 USD.
The currency in the Guatemala is the quetzal. The conversion rate to the GTQ is 1 dollar to 7.68 GTQ as of August 19, 2019.
You can read more information about minimum wages in Guatemala in the Government website (in Spanish).
Average Salary in Guatemala City
The average salary in Guatemala City is of around 4500 Quetzales, or roughly 600 USD. Guatemala City is the capital and also the wealthiest city in the country. There is strong gap between the average salary in Guatemala city and salaries in other parts of the country.
Guatemala Economic Outlook
Guatemala is still one of the poorest nearest in the Americas when it comes to GDP per capita. That reflects in extremely affordable prices if you want to visit or invest in the country. Since the country has improved in terms of political and economic stability in the past decades, Guatemala is becoming increasing interesting for foreigners to invest, relocate and retire.
Agriculture remains the main sector of the Guatemalan economy. The production and exportation of bananas, sugar and also coffee are among the main pillars of the country’s economy. Lately, Guatemala is also diversifying its agriculture to other types of products, focused on foreign markets.
Tourism is also picking up fast in Guatemala. The country has main natural beauties, and its proximity to the United States is making of Guatemala a popular tourism destination in Central America. There are many investing opportunities in this sector, mainly in places like Lake Atitlan.