Rivermate is a global employment solutions company that provides Employer of Record services in Serbia.As an employer of record, we help you hire employees and run payroll services in Serbia, allowing you to avoid the necessity of first establishing a branch office or subsidiary in Serbia.It is not necessary to establish an entity in order to hire an employee. We can hire your employee in any country with a few mouse clicks. Using our Employer of Record solution, you can have full compliance, benefits, and automated payments.If you wish to hire a remote team in Serbia or individually hire remote employees in Serbia, Rivermate’s global employer of record services will make sure that the process will be as seamless as possible for you.Send us a message so we can talk about how Rivermate’s Employer of Record Serbia services can best help your company!
Serbia's economy is service-based, and it is ranked 78th in terms of GDP in 2020. The Serbian economy is dominated by the tertiary sector. The unemployment rate in Serbia in 2020 was 12.72%, a 0.03% increase from 2019. Serbia has one of the region's highest unemployment rates. Serbia's prominent industries include the automotive, energy, machinery, agriculture, and mining industries. Trade is also important in the economy.Other emerging industries include tourism, telecommunications and information technology, and manufacturing. Its multicultural and welcoming society is ideal for qualified young professionals and graduates. The education, science, and technology sectors have grown significantly in the last year. The Serbian economy is based on free-market principles. Belgrade is the country's economic hub, with stock exchanges and banks.Serbia has the 75th largest economy in the world by nominal GDP as of 2020. (Gross Domestic Product). The service sector dominates the economy with a 67.9% share and employs approximately 56% of the working population, followed by the industrial and agricultural sectors. The country has Europe's best economy. In comparison to other European countries, the growth rate is extremely rapid.
Serbia's cost of living is $667, which is 1.4 times less expensive than the global average. Serbia was ranked 126th out of 197 countries in terms of cost of living, and the 55th best place to live.In Serbia, the average after-tax salary is $578, which is enough to cover living expenses for 0.9 months.
Serbia is the 56th best country to live in the world. Belgrade, a city in Serbia, is one of the great places to live in southeastern Europe. The country is known for its delicious cuisine, culture, and nightlife. Serbia currently has the 123rd highest cost of living in the world.The cost of living on rent in Serbia depends on the locality as well as the features available. You can expect to spend around $312.97 (30,926.41 Дин), depending upon the area for a one bedroom apartment. The rent can increase or decrease based on personal preferences.
The energy sector contributes significantly to the Serbian economy. This sector is run by the major electricity producers, who control the country's supplies. The country has a large amount of coal reserves. It is a significant electricity exporter and fuel importer. There are numerous job opportunities available in this industry.Agriculture is another important sector of the Serbian economy. It has favorable natural growing conditions. In the European Union, the country is a major supplier of frozen fruit. Maize, wheat, sunflower, plum, dairy, poultry, potato, and apple are among the most important agricultural products.Tourism is another important industry in the country. The country's mountains and spas are the main draws for tourists. The country also hosts a number of music festivals. This sector employs approximately 75,000 people and has grown in recent years.
The cost of hiring is one of the most important aspects of the recruitment process in Serbia. Before making a hiring decision, several factors must be considered, including:- Onboarding and training cost- Opportunity costs- Cost of conducting the interview- Time required
Serbia has a well-defined labor system with clearly stated federal and provincial laws. Minimum wages, work hours, overtime pay, and other important factors govern the Serbian labor market. The Serbian Labor Law governs the following aspects of the labor market:- Minimum 36 work hours a week- Paid and unpaid leave- Termination of employment- Workplace surveillance- Anti-discriminationDifferent regulations that regulate the employer-employee relationships in Serbia are based upon- Legislations- Contractual Agreements- Constitutional Law
Serbia has a free-market economy, with the service sector dominating. As a result, it is eager to hire skilled individuals and highly qualified professionals who have been trained in a variety of hard and soft skills. There are fantastic job opportunities available for all of these skills, from high-level software developers to creative graphic designers.If you are an employer looking to hire in Serbia, these major skills and areas which have witnessed a recent growth rate:- Computer Science/IT- Business- Healthcare- Teaching- Graphic Design (Website Design)- Language (Translator)Serbia has been successful in promoting various cities for industrial and economic development. Furthermore, Serbia is a beautiful country with delicious cuisine and a vibrant nightlife, as well as unique job opportunities for many eager immigrants and expats.Belgrade is one of the world's oldest inhabited cities. The city serves as Serbia's financial and economic hub. It is made up of commercial banks as well as the Belgrade Stock Exchange. It is also one of Southeastern Europe's IT hubs. There are numerous job opportunities in the IT industry.Novi Sad - Novi Sad is a Serbian economic and cultural center. It is Serbia's most fertile region. The city's primary industries include finance and banking, insurance, agriculture, and energy.
According to the National Bureau of Statistics, the Serbian economy recovered in 2021 after the pandemic imposed restrictions, and its growth rate is higher than that of other European countries. Serbia's GDP decreased by 0.98% in 2020 compared to 2019, reaching a value of US $53 billion. In the coming years, GDP is expected to grow by 4.9%.
Despite the fact that the pandemic hit the country hard, affecting industries such as tourism and agriculture, recent growth has shown that it has become the best economy among European countries. The financial, information technology, and health care sectors are the economy's emerging sectors.
Serbia's hourly minimum wage is 183.93 Serbian dinars (RSD) as of 2021.
