Overview of Eritrea

Eritrea is a rich country in terms of natural resources. It has tremendous mines of gold and silver. The discovery and production from these mines is a major contributing factor to the excellent economic growth of Eritrea. Eritrea hires a huge number of people from foreign countries. According to the statistical data, 32% of the total GDP of Eritrea is a product of foreign workers.

Total population – 3,817,651 people (2024)

GDP – GDP in Eritrea is expected to reach 2.13 USD Billion by the end of 2024.

Economic Overview

The economy of Eritrea has been increasing each year. The current PPP GDP of Eritrea is US $6.46 billion (0.43 billion ERN). The subsequent per capita income is US $1,820 (121.33 ERN). The PPP GDP of Eritrea has increased by 3.9% in the last decade. The nominal GDP is US $2.09 billion (0.13 billion ERN), making the per capita income US $625 (41.66 ERN).

Market size

The mining sector runs the market of Eritrea. Foreign nations such as Australia and China make considerable investments in the mining sector of Eritrea. Tourism is the least revenue-generating sector of Eritrea, which contributes only 1% to the total GDP of the nation. Agriculture is another main sector generating tremendous revenue for the country.

A brief glimpse of the industries

• Agriculture has been in force in Eritrea for tens of years. Eritrea produces good barley crops, legumes, fruits, linseed, millet, sorghum, wheat, vegetables, and sesame. The use of cattle, sheep, goats, and camels is done to enable efficient agricultural productivity.
• Fishing is a major occupation in Eritrea. Several new fishing industries have been set up in this country due to the large fish available in the coastal areas. Fish and other seafood products are exported to several countries in Europe and Asia.
• The manufacturing sector is recently soaring its revenue. Eritrea manufactures beverages, processed foods, tobacco, leather, textiles, metal products, chemicals, printing, nonmetallic minerals, construction materials, salt, paper, and matches. The recent demand for chemicals has given this industry a wide boost.

Cost of living in Eritrea

Eritrea is a beautiful country. It has amazing natural resources. But when it comes to a modern, trendy quality of life, Eritrea is not your place. What Eritrea can offer you is a simple down to earth living within minimum cost. In the whole country, the cost of living is minimum. Recently a rise has been observed in the cost of living in this nation.

Cost of Renting

The cost of renting in Eritrea is subjected to change depending on the location. The availability of amenities in and around your house decides the rent of your house along with the area. The area of your housing facility is the most significant element that decides your cost of renting. Some areas have low rates while others high depending on the accessibility to other locations and essentials from that location.

Cost of living depending upon your location

The cost of living in Eritrea is very affordable for people with good salaries. Eritrea is a poor country; hence several citizens are unable to afford the basic cost of living. But if you are a foreigner shifting to Eritrea, you have nothing to worry about. The fact should be taken into consideration that some areas have a higher cost of living than others. It is based on the below classification –

• Cities categorized as Tier 1 cities, such as Asmara, Keren, etc., have the highest cost of living.
• Cities categorized as Tier 2 cities such as Teseney, Mendefera, Agordat, etc., have an average cost of living.
• Cities categorized as Tier 3 cities such as Segheneyti, Nakfa, Adi Keyh, etc., have the least cost.

Mentioned below are the cost of living in the cities of Eritrea.

Top skills in Eritrea

Eritrea is a developing nation. It is on the lookout for excellent skilled individuals from all over the globe. The major skills required in Eritrea range from agricultural to programming. Eritrea is big on vocational skills. Eritrea needs talented workers who are skilled to handle complex operations in the mining and manufacturing sectors.

Major skills and areas which have witnessed a recent growth rate

• Agriculture
• Fishing
• Solar energy
• Tourism
• Vocational skills

Top skills city-wise occupation-wise

Each city represents itself with its unique resources. Every location has different requirements, and individuals with those specific skills are best suited to work in specific areas. All the cities of Eritrea have unique requirements of skills. Some need agriculturally skilled individuals, while others are inclined to hire individuals skilled in finance.

Hiring Cost

One of the important expenditures for any company, firm or sector is the cost of hiring. This is a part of the company money that is used for the sole purpose of hiring. The expenses of various stages in hiring are covered under the hiring cost. Some of those aspects are –

• Onboarding costs
• Time invested
• Lending of personnel
• Interview scheduling

Salary structure for various roles

The following table gives you an idea about the average salaries offered in various sectors in Eritrea –

Employment laws in Eritrea

Eritrea has a dedicated department for the passing, implementation, and protection of employment laws. This department choose the following few aspects to include in Eritrea's employment laws –

• Termination of employment
• Sick leave
• Resting and working hours
• Gender discrimination

The governing body in Eritrea, along with some other bodies, with the help of fixed laws, ensure strict implementation of employment laws. Those bodies are –

• The Labor Proclamation of Eritrea
• Contract of employment
•  The Ministry

How Can Skuad Help You with Hiring in Eritrea?

Conducting the recruitment processes in Eritrea can be a complex task for any company as there are various steps involved with the task. Hence, you might end up investing considerable time and resources to complete the necessary processes. With a team of experienced consultants, Skuad manages your hiring processes with utmost professionalism. Connect with Skuad Experts to know more.