In the first quarter of 2024, the average nominal monthly salary in Georgia was 1,943.4 GEL. This figure includes income tax, meaning the net salary (take-home pay) is 20% less.
Compared to the same period last year, there was an increase of 226.8 GEL, or 13.2%. However, this is a decrease of 101 GEL compared to the fourth quarter of the previous year.
There remains a significant gender pay gap across all sectors. The average nominal salary for men is 2,343.2 GEL, while for women it is 1,540.0 GEL.
The highest average salaries, over 4,000 GEL, are found in the financial and insurance activities, as well as information and communication sectors.
The highest average salary is in Tbilisi, at 2,305 GEL, while the lowest is in the Racha Lechkhumi/Kvemo Svaneti region, at only 996.8 GEL.
Experts note that instead of the average salary, the median salary is a more telling indicator, but the statistics department does not regularly calculate this figure.
As an expat living in Georgia, I like following developments on how the average wage in Georgia has evolved over the years. Last time I checked was back in 2016, when the average wage was 1,035 GEL or about 389 USD. Fast forward to 2024, the average salary has seen significant growth.
From 2016 to 2024, the average monthly salary in Georgia has increased from 1,035 GEL (389 USD) to 1,943.4 GEL (684.29 USD), reflecting significant economic growth and improvement in wages over the past eight years.
Investment Suggestions for TerraMatris Crypto Hedge Fund
To achieve the average Georgian salary of 1,943.4 GEL per month, using a 3.6% monthly return rate from investments at TerraMatris crypto hedge fund, we need to calculate the required investment amount.
To achieve an average monthly salary of 1,943.4 GEL with a 3.6% monthly return rate, an investment of approximately 53,983.33 GEL (or 19,005.12 USD) is required in the TerraMatris crypto hedge fund.
This strategy ensures a stable income stream, allowing investors to reach the average monthly salary in Georgia, while benefiting from the growing opportunities in the crypto market.