BERLIN – The purchasing power of the average resident of Germany in 2023, at 26,271 euros, was the ninth strongest in Europe, that is, a weaker position than last year, market research institute GfK announced on Wednesday.

The figure refers to income per capita after taxes and social benefits, the Nuremberg institute said.

The greatest purchasing power is held by residents of Liechtenstein, 68,843 euros, ahead of the Swiss with 49,592 and Luxembourgers with 40,931 rvr. They are followed by Icelanders, Danes, Irish, Austrians and Norwegians.

The average purchasing power in European countries this year is 17,688 euros.

The citizens of Belarus, Kosovo and Ukraine have the least money to spend, slightly less than 2,500 euros.

Residents of 42 European countries this year have a total of 12.100 billion euros at their disposal for food, housing, services, bills, private treatment and pensions, various insurance, holidays, mobility and entertainment.

Average purchasing power per European has risen nominally by 5.8 percent since 2022, but that will not be enough to cover the real decline in income due to inflation.

Source:seebiz.eu