Cuba Minimum Wage - World Minimum Wage Rates 2024 (2024)

FAQs

What is Cuba's minimum wage? ›

Cuba's minimum wage is fixed at CUP 2,100 ($87.52) per month.

The highest-paying countries in 2024 were Switzerland ($8111), Luxembourg ($6633), the United States ($6455), Iceland ($6441), Norway ($5665), Denmark ($5642), Canada ($5081), Greenland ($4665), Ireland ($4622), the Netherlands ($4581).

However, it is widely reported that the average monthly salary for state workers — which still constitutes a large portion of the Cuban workforce — hovers around the mark of 750 to 1,000 Cuban Pesos (CUP), equivalent to approximately 30 to 40 USD as per the exchange rates before currency reforms enacted in January 2021 ...

Summary of cost of living in Cuba: A family of four estimated monthly costs are 2,238.7$ without rent. A single person estimated monthly costs are 657.3$ without rent. Cost of living in Cuba is, on average, 35.4% lower than in United States.

We came to find that Cuba, though a land of great poverty, was wealthy in other ways. The passion, faith, and endurance found in the Cuban people is unmatched.

US dollars (USD) are very popular in Cuba and can be used for many small purchases and tipping. Euros are also widely accepted. So, you might pay for a drink at a bar in CUP, but then leave $1-3 USD or Euros as a tip.

Do Cubans make good money? ›

Mean wage of households in Cuba 2023

During a 2023 survey, around 36 percent of the Cuban population had a monthly income lower than 104 U.S. dollars, and only 18 percent had an income higher than 417 USD.

Cuba Housing Market Trends

In January 2024, Cuba home prices were down 3.3% compared to last year, selling for a median price of $58K. Sale $/Sq. Ft. To compare other locations to the Cuba and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar.

Most Cubans do not pay rent on their homes, but there are many young families that have decided to live on their own and have rented homes. Those who migrate within Cuba for work or other reasons may also rent. The minimum monthly rent in Havana is 17,000 CUP.

State-built housing was offered as long-term “leaseholding,” with rents set at 10 percent of family income. Private renting was prohibited. In addition, vacant units confiscated from emigrants were distributed to people in need, and the Cuban lottery was transformed into a short-lived vehicle for financing new housing.

You can gain permanent residency in Cuba in the following cases: You are married to a Cuban citizen or a permanent resident in Cuba. You have family members in Cuba. You are a Cuban citizen who has lost Cuban residency due to living outside Cuba for a while.

Legally, the only currency you can use in Cuba is the Cuban peso (CUP). However, most Cubans would be glad to accept foreign currency, especially Euros or USD. If you haven't pre-booked and paid for accommodations, activities, or transportation, you could likely pay for these things in cash in foreign currency.

The median sale price of a home in Cuba was $58K last month, down 3.3% since last year.