Oct 31
2024

Source: GfK

As in previous years, the frontrunners are Liechtenstein, Switzerland, and Luxembourg, while Ireland is the 2024 loser

The average per capita purchasing power in Europe amounts to €18,768 in 2024, which represents nominal growth of +3.9% compared to the revised previous year‘s figures. However, there are significant differences between the 42 European countries. These are some of the results of the study “Purchasing Power Europe 2024” by GfK, a NielsenIQ company.

Consumers draw from their general purchasing power to cover expenses related to eating, living, services, energy, private pensions and insurance plans, as well as other expenditures, such as vacations, mobility, and consumer purchases.

As in previous years, Liechtenstein is again in first place in the purchasing power rankings by a clear margin. Liechtenstein residents have a per capita purchasing power of €70,180, more than 3.7 times the European average. Switzerland and Luxembourg follow in second and third place: While the per capita purchasing power of the Swiss, at €52,566, is 2.8 times that of the average European, Luxembourgers have a net disposable income of €41,785 per capita. This is more than 2.2 times higher than the European average.

This year‘s big winner is the United Kingdom, which moved up three places to seventh place with a per capita purchasing power of €28,086.

Neighboring Ireland, on the other hand, has suffered major losses: After the island state was in the fast lane in the last two years and continued to improve in the rankings, it slipped six places in 2024 and thus out of the top 10. At €26,880 per capita, the Irish are in twelfth place and 43 percent above the European average.

This year, Austria has moved up again one place and is now in sixth place with a per capita purchasing power of €29,266. New in the top 10 is the Netherlands, which is in tenth place with an average net disposable income of €27,558 per person.

More: “Purchasing Power Europe 2024”

(31.10.2024, USA: 10.31.2024)