Germany: The updated “GfK Purchasing Power Europe 2010/2011” study reveals the regional distribution of the population’s purchasing power in 42 European countries. The company has projected the study through maps. This year’s study suggests the beginning of a recovery from the economic and financial crisis.
According to the study, European consumers have a net household income of approximately EUR7.9 billion available for consumer purchases in 2010. This corresponds to an average purchasing power of EUR11,945 per inhabitant, that is, an increase of around 2.1 percent over the previous year.
The crisis has definitely left its mark in some countries. There are however no major shifts in the purchasing power levels of the wealthier countries evaluated by the study, with the exception of Sweden. Here, per capita purchasing power rose significantly due to the revised 2009 figures and 2010 exchange rate fluctuations. Even then, Sweden’s purchasing power lags behind Finland’s.
The Baltic countries, which bore the full brunt of the financial crisis, slipped further in 2010 despite improvements to Europe’s overall economy. With per capita purchasing power of EUR4,938, Estonia fares best among the Baltic states.
The countries comprising former Yugoslavia as well as Moldova, the Ukraine and Belarus continue to occupy the lowest ranks. Exceptions are Croatia and Slovenia.
Portugal, Italy, Ireland, Greece and Spain fall in the middle of Europe’s purchasing power rankings. All these countries have purchasing power levels that have remained relatively stable since last year. A few countries are already enjoying a clear upswing. Turkey is among those European countries that successfully weathered the economic crisis and achieved positive economic development in 2010. Turkey’s per capita purchasing power consequently rose by over 10 percent, moving it up several places in the rankings.
Source: Gfk GeoMarketing