The purchasing power of Europeans in 2024 increased by 3.9% and reached 18.768 thousand euros per capita, according to the research company GfK.
In total, the population of Europe had about 12.9 trillion euros available last year, which could be spent on food, housing and utilities, insurance and pension savings, recreation, mobile communications, and other purchases.
At the same time, disposable income indicators vary significantly among the 42 countries whose data were analyzed by GfK. The highest results were recorded in Liechtenstein, Switzerland, and Luxembourg, while the lowest were in Ukraine, Kosovo, and Belarus. As a result, the difference between the incomes of residents of Liechtenstein and Ukraine exceeds 24 times.
16 out of 42 countries exceeded the regional average, while 26 countries had below-average purchasing power.
“The nominal growth of purchasing power in Europe is 3.9%, which is much more moderate than in the previous two years. However, at the same time, the inflation rate has also slowed down,” NIQ-GfK expert Markus Frank said in a statement.
The top three countries in terms of purchasing power have not changed compared to the previous year: Liechtenstein – 70.18 thousand euros per capita (3.7 times higher than the average value for all countries in the region), Switzerland – 52.566 thousand euros (2.8 times higher), Luxembourg – 41.785 thousand euros (2.2 times higher).
The top ten also includes Iceland, Denmark, Austria, the United Kingdom, Norway, Germany, and the Netherlands. At the same time, the UK added three positions at once and took seventh place. The Netherlands rose to 10th place last year from 12th in 2023, pushing Ireland out of the top ten, which moved to 12th place from 6th.
In Ukraine, which rounds out the ranking and has continued to confront Russia’s full-scale military aggression since February 24, 2022, disposable income per capita is 2,878 thousand euros (15% of the European average).
Source: http://relocation.com.ua/purchasing-power-of-europeans/
