Comparison of purchasing power in Europe in 2024: Switzerland among the leaders, major regional differences visible

The GfK study on European purchasing power in 2024 illustrates the sometimes considerable differences in income within Europe: while Liechtenstein's per capita purchasing power of 70,180 euros is more than 3.7 times the average, Switzerland and Luxembourg take second and third place in the ranking with 52,566 and 41,785 euros per capita respectively. Switzerland in particular shows an impressively constant purchasing power and is positioned well above the European average. Austria also ranks sixth among the top 10 countries with an increase.

A country comparison reveals a regional disparity that appears to be less pronounced in the Netherlands, Germany and Austria, but shows considerable differences between wealthier and lower-income regions, particularly in France, Italy and Spain. In France, purchasing power in the capital region Île-de-France is well above the national average and remains the economic center of the country. Italy, on the other hand, shows a clear north-south divide: while the province of Bolzano, the new leader, represents the wealthier northern Italian regions, southern Italy lags well behind the national average.

The UK and the Netherlands both move up in the overall European rankings this year: The UK rises three places to reach seventh place with a purchasing power of EUR 28,086 per capita, while the Netherlands moves up to tenth place with an average value of EUR 27,558, showing a relatively balanced distribution of purchasing power across the provinces.

Overall, 16 of the 42 countries surveyed are above the European average. Despite nominal growth in purchasing power of 3.9%, the regional and cross-national income gap remains striking, particularly in Eastern and Southern European countries such as Poland, Hungary and Romania, where net disposable income remains comparatively low. However, there is a noticeable trend towards a convergence of incomes in less affluent regions. The "Purchasing Power Europe 2024" study is available now and contains detailed data at local authority and zip code level.

About the study:

The "GfK Purchasing Power Europe 2024" study is available for 42 European countries at detailed levels such as municipalities and zip codes, as well as corresponding data on inhabitants and households and digital maps.

Purchasing power refers to disposable income excluding taxes and social security contributions including transfer payments and is shown per capita and year in euros as an index. GfK Purchasing Power refers to nominal disposable income. This means that the values are not adjusted for inflation. The calculation is based on data from income tax statistics, relevant statistics for calculating transfer payments and forecasts from economic institutes.

Consumers use their general purchasing power to cover all expenses for food, housing, services, energy costs, private pensions and insurance, as well as other expenses such as vacations, mobility and consumer wishes.