GUATEMALA

This report updates the Anker Living Wage Reference Value for urban Guatemala to 2024. This was GTQ 4,646 (USD 603) for 2022 in the original report, comprised of a Net Living Wage of GTQ 4,401 (USD 571), plus a social security contribution of GTQ 245 (USD 32). The updated Anker Gross Living Wage for 2024 is GTQ 4,975 (USD 641) per month, comprised of a Net living Wage of GTQ 4,666 (USD 601), plus GTQ 309 (USD 40) in mandatory pay deductions which would need to be paid by law as a contribution to the state health fund (5.5%) and income tax (5%). It is worth noting that a worker’s contribution to social security has increased this year (from 4.83% to 5.5%) and is considered as a deductible expense for income tax purposes and in addition there is a GTQ 4,000 monthly deduction3 . Inflation between June 2022 and June 2024 was 6.0% . Without accounting for inflation, the Living Wage estimated in 2022 would not be sufficient for families to have a basic but decent standard of living in 2024, because the purchasing power of the Living Wage would have decreased. Mandatory deductions were calculated using the most up-to-date tax laws.