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Basic Economic Summary

Belgium is a developed country, with an advanced high-income economy. The economy is known to have a high quality of life, high standard of living, healthcare, education, and human development index; making it an ideal country for most employees as well as employers to hire talent to expand their global market. The industries that contribute the most to the country's GDP are science and technology and tourism. The economy is also known as a highly industrialized region and is characterized by its highly productive workforce.


  • Local Languages: Dutch, German, French
  • Capital: Brussels
  • Major Economic Hubs: Antwerp, Brussels, Bruges, Ghent
  • Currency: Euro
  • Population: 11.49 million
  • Time Zone: UTC+1 (CET), UTC+2 (CEST - Summer)
  • Date Format: dd/mm/yyyy

Useful Information

  • GDP Per Capita (in USD): 43,814 USD 
  • Exchange Rate (EUR/USD): 1.13
  • PISA Ranking (2018): 17

Local Universities

Top Local Universities

University No. of graduates Rankings
KU Leuven 57,777 Ranking in Belgium: 1, World Ranking: 48
Ghent University 41,000 Ranking in Belgium: 2, World Ranking: 85
UC Louvain 7,221 Ranking in Belgium: 3, World Ranking: 148
University of Antwerp 21,133 Ranking in Belgium: 5, World Ranking: 212
Université Libre de Bruxelles 24,157 Ranking in Belgium: 4, World Ranking: 202

Salary Data

Average Salary of Jobs (Per Month)

Job Title Salary Range (in EUR) Salary Range (in USD)
Technical Product Engineer 2,720 - 8,650 3,320 - 10,566
Software Developer 2,990 - 9,520 3,652 - 11,630
Data Analyst 2,870 - 8,440 3,505 - 10,314
UX Designer 2,270 – 6,690 2,772 - 8,172
Project Manager 3,420 – 10,900 4,178 - 13,315
Sales Executive 2,000 – 6,920 2,444 – 8,454
Chief Accountant 2,820 - 12,200 3,445 – 14,903

More information about average salaries in Belgium can be found on SalaryExplorer.

Talent Sourcing Tips


Employer Payroll Tax

The employer's payroll taxes vary between 25% to 27% on case to case basis.

Employee Payroll Tax

Employees pay 13.07% of their total gross compensation as social security contributions.

Income tax is levied at a progressive rate on all annual income as follows:

Income Group Tax Rate
0 - 13,540 25%
13,541 - 23,900 40%
23,901 - 41,360 45%
Above 41,360 50%

More information on income taxes levied can be found here.

Minimum Wage & Payroll

Minimum Wage

The minimum wages set by law in Belgium is  €1,625.7 per month.

Payroll Cycle

The payroll cycle is set once a month and salaries are usually paid at the end of the month.


13th month salary

Most companies pay the 13th month salary as a bonus to their employees in December before Christmas

Employee stock options

There are no provisions that make it mandatory for employers to provide stock options to their employees. However, if an employer is looking at rewarding employees with stock options, relevant taxes must be paid. 

Taxes on employee stock options in Belgium can be found here.

Working Hours & Statutory Leave

Working hours

The standard working hours in Belgium are 38 hours weekly.

Overtime pay

Any hours exceeding the regular 38 working hours a week is considered overtime and should get paid at 150% their regular rate. Overtime on Sundays and public holidays are paid at 200% their regular wage rates.

Public Holidays

Belgium has 12 public holidays in 2021. The list of public holidays can be found here.


Annual Paid Leave

In Belgium, permanent employees are entitled to four weeks of fully paid leaves yearly.

Sick Leave

White collar employees are entitled to upto 30 days of sick leave. Blue collar employees are entitled to upto 14 days of sick leave in a year. Blue collar employees are paid 100% of their salary for the first 7 days and 85% of their salary post the 7-day period.

Parental Leave

  • Maternity Leave

Employed working mothers are entitled to 15 weeks of leave in case of single birth and upto 19 weeks of leave in case of multiple births.

  • Paternity Leave 

Paternity paid leave of 10 days is offered and can be claimed within four months of the child’s birth. The first three days of the paternity leave is paid for by the employer. The remaining seven days are paid by the insurance fund.

Offboarding & Termination

Termination Process

An employment contract can be terminated depending on the employment agreement between the parties.

Notice Period

The notice period for blue collar employees are:

Years of Service Notice Period
Less than 6 months 28 days
6 months - 5 years 35 days
5 years - 10 years 42 days
10 years - 15 years 56 days
15 years - 20 years 84 days
Above 20 years 112 days

The notice period for white collar employees is determined by their annual salary. If their annual salary is less than EUR 25,277 employees are entitled to 3 months of notice period in case the service period is less than 5 years. The notice period increases by 3 months for each additional period of 5 years.

In case the salary of the employee exceeds EUR 25,277 per year, the notice period is mutually agreed by both parties at the time of termination.

Severance Pay

In the absence of a notice period on termination, employees are entitled to a severance pay which would equal the amount they would earn during the notice period.

Probation period

Generally, probation period is upto 2 weeks for blue-collar workers and between 1 to 6 months for while-collar employees.


It is mandatory for the employer to provide healthcare for employees working in Belgium. This shall be done through the means of the Belgian social security scheme by special agreement. 

The social security system for employees covers the following: 

  • Old-age and survivor's pensions, 
  • Unemployment benefits 
  • Insurance that includes accidents at work, sickness, disability benefits, and occupational diseases, 
  • Family allowances, 
  • Annual benefits (only for blue-collar employees)

Keeping aside the Belgian healthcare system, the employees are also entitled to complimentary benefits (on a regular basis) that include: 

  • The cost of hospitalization, 
  • Medical treatments, 
  • Ambulatory fees


The standard VAT is 21%. However, there are reduced VAT rates for certain industries that can be found here.

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