Christodoulides among ‘richest presidents in Europe’

Nikos Christodoulides is one of the “richest presidents in Europe” in relation to average salaries, according to a study released on Wednesday.

The study compares the annual gross salaries of presidents of 31 countries in Europe to their countries’ average salaries and found Christodoulides’ annual salary to be 6.51 times the Republic of Cyprus’ average salary – the fourth-highest ratio of the surveyed countries.

The study was carried out by Slot.Day, who analysed the average gross salaries, GDP per capita and presidents’ earnings across the European countries.

Christodoulides’ annual salary is €174,637, or €91.44 per hour.

The highest ratio of presidential salaries to a country’s average was found in Bulgaria, where President Rumen Radev’s salary of €124,659 is over ten times higher than the country’s average.

Somewhat surprisingly, Irish President Michael D Higgins’ salary has the third-highest ratio to national average salary of any of the 31 countries. His annual salary of €331,470 is 6.91 times the Republic of Ireland’s average.

By contrast, the lowest ratio was found in Slovenia, where President Natasa Pirc Musar’s annual salary of €44,701 is just 1.03 times the country’s average.

The highest recorded presidential salary in the 31 countries was in Switzerland, where President Viola Amherd earns €545,183 per year – 6.39 times the country’s national average.

The lowest was in Ukraine, where President Volodymyr Zelenskiy earns just €8,134 per year – 1.63 times the country’s national average.

The researchers used the latest available data from national statistics offices and the Organisation for Economic Co-Operation and Development (OECD), ranging between 2022 and the third quarter of 2023. GDP data is sourced from the International Monetary Fund’s (IMF) World Economic Outlook, published in October 2023. Head of state income estimates are based on independent media reports, national legislation, government and presidency websites, income statements and official government communication.

The survey was released as Kibris Postasi published the monthly salary of Turkish Cypriot leader Ersin Tatar.

His monthly salary of 149,315TL (€4,547) adds up to an annual salary of €54,568 – less than a third of that of Christodoulides.