Europeans spend €14,739 per person in 2019
Europeans have an average of €14,739 per person available for spending and saving in 2019. But disposable net income among the 42 studied countries varies significantly: Liechtenstein, Switzerland, and Luxembourg have the highest average purchasing power, while Moldova, Kosovo, and Ukraine have the lowest. These are some of the results of the newly released study “GfK Purchasing Power Europe 2019”.
Europeans have just under €10 trillion at their disposal in 2019. Per capita purchasing power grew by approximately 3.5% in 2019, which is significantly higher than last year’s value.
Liechtenstein takes first place again with a per capita purchasing power of €67,550. This far exceeds the values of the other countries and is more than 4.5 times the European average. With €42,067 per person, Switzerland comes in at a second place, as was the case last year. All other countries in the top-ten rankings also have significantly above-average per capita purchasing power. Luxembourg makes it into the top three this year with a per capita purchasing power of €35,096, ousting Iceland from third to fourth place. Sweden switches places with Finland, falling from ninth to tenth place.
Sixteen of the countries considered by the study have above-average per capita purchasing power, while twenty-six fall below the European average. Ukraine takes the last place with a per capita purchasing power of €1,830.
Purchasing power is a measure of disposable income after the deduction of taxes and charitable contributions and including any received state benefits. The study indicates per-person, per-year purchasing power levels in euros and as an index. GfK Purchasing Power is based on the population’s nominal disposable income, which means values are not adjusted for inflation. Calculations are carried out on the basis of reported income and earnings, statistics on government benefits as well as economic forecasts provided by economic institutes.