Per capita purchasing power in Europe will average €17,688 in 2023. However, the 42 countries in Europe show significant differences: for example, people in Liechtenstein, Switzerland and Luxembourg have a much higher net income than in the rest of Europe, while purchasing power is lowest in Belarus, Kosovo and Ukraine. The biggest winner of the year is Ireland, which moved up four places in the overall European comparison. This is shown in the new study “GfK Purchasing Power Europe 2023“.
For the year 2023, Europeans have a total of around €12.1 trillion at their disposal to spend on food, housing, services, energy costs, private pension provision, insurance, holidays, mobility or even consumer wishes. Per capita, this corresponds to an average purchasing power of €17,688, which means a nominal growth of 5.8 percent compared to the revised value of the previous year. However, how much consumers actually have available for spending and saving varies greatly from country to country and also depends on how consumer prices develop in 2023.