How long would it take to earn a million dollars in Kazakhstan?

According to Picodi.com data, earning a million dollars based on the average salary in some countries would take longer than one generation, reports a Kazinform News Agency correspondent.

The analysis highlights significant differences in the time required to reach this goal across different parts of the world.

At the top is Switzerland, where it would take only 14 years and 3 months to earn a million dollars, thanks to the high salary levels. Following closely are Singapore and Luxembourg, requiring 16 and 17 years, respectively. In the United States, it would take 19 years and 10 months. Rounding out the top five is Iceland, where it would take 20 years and 11 months.

At the opposite end of the list is Kazakhstan, ranking 69th among the 102 countries studied. Here, with the average salary, it would take a Kazakh citizen 171 years to accumulate a million dollars, highlighting the significant economic differences between developing and developed countries.

It is worth noting an improvement in 2023 compared to 2022. In 2022, the average Kazakh resident would have needed 245 years and 11 months to achieve the same financial goal. Thus, within one year, the time required to reach a million dollars decreased by 74 years and 11 months.

Other post-Soviet countries also show high values. For example, in Russia, it would take 136 years and 10 months, in Armenia – 148 years and 8 months, in Belarus – 165 years and 10 months, in Azerbaijan – 228 years and 8 months, and in Uzbekistan – 277 years and 8 months.

However, these figures pale in comparison to how long it would take residents of Pakistan, Egypt, and Uganda, who are at the very bottom of this ranking. For example, it would take a Pakistani resident over six centuries (621 years and 3 months) to reach the coveted figure, while in Egypt it would take 603 years and 3 months, and in Uganda – 523 years and 3 months.