November 9, 2023
According to ECO, the average income of Europeans grew in 2022, but asymmetries persist between Member States. Only Bulgaria, Slovakia, Romania, Hungary, and Greece are worse than Portugal in this indicator.
The disposable income of Europeans has increased, but asymmetries persist between the different Member States.
While in Luxembourg, the average income per citizen, expressed in Purchasing Power Parities (PPP), is around 33 thousand euros per year, in Bulgaria, it does not even reach 10 thousand euros. In Portugal, it is around 12 thousand euros, making the country a poor performer in this European photograph.
“In 2022, the average income per inhabitant in the EU, expressed in PPP, was 18,706 euros, above the 18,011 euros recorded in 2021,” said Eurostat this morning, which highlights that there is still some inequality between the various countries that make up the community block.
Let’s look at the income recorded in the various Member States. At the top of the table comes Luxembourg (33,214 euros, expressed in PPP), followed by the Netherlands (25,437 euros, expressed in PPP), Austria (25,119 euros, expressed in PPP) and Belgium (24,142 euros, expressed in PPC).
At the base of the ranking, with the lowest disposable income per capita come Bulgaria (9,671 euros, expressed in PPP), Slovakia (9,826 euros, expressed in PPP), Romania (10,033 euros, expressed in PCC) and Hungary ( 10,841 euros, expressed in PPP).
Portugal does not appear very far from these last countries. With an average income per inhabitant of 12,266 euros, expressed in PCC, it is the sixth worst-scoring country in the European table.
Despite the Government’s announcement that increasing wages is a priority and the growth in wages – this year alone, the increase is around 8% -, Portugal continues, year after year, to stand out for its negative results in the European space in terms of concerns salaries.
Purchasing Power Parities allows for more rigorous comparisons, as they eliminate the effects of differences in price levels between countries.
Source: The Portugal News
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
