Germany's living costs are escalating for numerous skilled non- locals.
Foreign workers in Germany generally face higher living costs than in their non-EU homelands. The Federal Statistical Office revealed that expenses were 67% lower in India and Egypt compared to Germany, and the latter ranked lowest out of the analyzed nations. Living costs were 60% cheaper in Georgia, Vietnam, and Tunisia as well. In comparison, the United States displayed a 7% increase.
The German economy laments a shortage of qualified candidates in various fields and craves better immigration possibilities for foreign workers. Western Balkan citizens enjoy easier access to the German labor market and significantly lower expenses. North Macedonia is one such example, where the cost of living amounts to half of what it is in Germany (50% less). Bosnia and Herzegovina and Albania equal 41% less, while Serbia ranks 39% cheaper.
Egypt was the most cost-effective African destination after Tunisia (60% cheaper than Germany), with Ghana and Senegal also showing affordability with living costs almost halved (47% less than Germany). In Morocco, expenses were 44% lower. Vietnamese consumers experienced much more affordable lives, enjoying savings of up to 60%. Employees in Thailand and the Philippines enjoyed living at home for around half the cost of Germany. China showcased a price level 24% lower than Germany.
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- Specialized workers from countries like North Macedonia, with lower living costs, are being sought by German specialists in fields with a labor shortage, to mitigate the impact of high costs on the German economy.
- Amidst the German labor market's demand for specialists, potential foreign candidates might consider lower living costs in countries like Bosnia and Herzegovina or Albania, as they offer savings of up to 41% compared to German expenses.
- The German government, acknowledging the escalating costs for skilled non-locals, might reconsider immigration policies and regulations for German specialists, encouraging German businesses to recruit from countries like Vietnam, where the cost of living is 60% cheaper.
