People in Liechtenstein have the highest purchasing power in Europe, ranking 4.6 times above the European average. Overall European spending power grew marginally this year.
Figures from market research institute GfK have revealed that around 673.5 million inhabitants from 42 European countries had some EUR 9.18 trillion available in 2016 for spending and saving. An increase of 0.3 per cent on the previous year, the total equates to an average per capita of EUR 13,672.
However, there were large differences in net income across the 42 countries evaluated. With an average of EUR 63,011 (CHF 67,848) per capita, Liechtenstein is top for purchasing power, maintaining its unchallenged position from last year. In Liechtenstein, average purchasing power is 4.6 times the European level, and as much as 80 times higher than the worst performing country, Ukraine.
In second position, just like last year, is Switzerland, with an average disposable net income of EUR 42,300 (CHF 45,547) – a little over three times the average amount.
The four most densely populated countries of Germany, Great Britain, France and Italy, which came in above average, make up almost 60 per cent of the total European spending power, although they account for only 40 per cent of the overall population.
Considered separately, with EUR 21,879, Germany is in ninth position, followed by Great Britain with EUR 21,141. France ranked 12th with EUR 19,252 and Italy 16th, with EUR 16,709.