In 2011, the Eastern part of European Union provided 116% (Bulgaria) to 487% (Prague) of Shenzen labor costs. We think, it's quite comparable. And the top of all that: labor costs in Shenzen doubled from 2010 to 2011 (wage inflation was 'only' 62% in Shanghai from 2010 to 2011).
We have no statistics about 2012 or 2013 labor rates in China, we leave it to your imagination...
In absolute terms, average monthly labor cost in Shenzen in 2011 was 513 USD or 369 EUR (and 257 USD in 2010). Average monthly labor cost in Bulgaria was 431 EUR in 2011, 775-900 EUR in Hungary (without Budapest), 905-1529 EUR in Slovakia and 1800 EUR in Prague, Czech Republic.
|Average monthly labor costs (cost ranges) by locations. |
Bud= Budapest, Bts = Bratislava, Prg = Prague
Graphics: Manufacturing Hungary Blog