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Romania is ranked 31st in the European purchasing power ranking, 60% below the European average, given that Europeans have an average purchasing power per capita of 13,894 euros in 2020, according to the results of the GfK Purchasing Energy study for Romania and Europe, transmits Agerpres.
Centralized research data shows that, in the case of Romania, there is a very large gap between rich and poor. Thus, the inhabitants of the Capital have a purchasing power greater than 81% than the national average. In addition, Bucharest residents have income for spending and savings three times higher than residents of the county with the lowest purchasing power, Vaslui.
According to the cited source, Arad, Argeş and Prahova counties each rise with a place in the Top 10, from a purchasing power perspective, occupying positions seven to nine, while Hunedoara comes out of the top this year. In tenth place is the county of Alba.
For Romania, data on purchasing power is available in detail down to the city level for each of the following categories: food, non-alcoholic beverages, alcoholic beverages, tobacco products, health and hygiene products, clothing, footwear and products. leather, furniture, household products, glass, porcelain; home appliances, consumer electronics, IT&C, photography, watches and jewelry, books and supplies, sports equipment, hobbies and recreation, home renovation items.
The GfK report reveals that, at the European level, the average purchasing power per capita is, this year, 13,894 euros, but the net disposable income of the 42 countries studied varies significantly.
Where is the greatest purchasing power in Europe?
In this respect, Liechtenstein, Switzerland and Luxembourg have the highest net disposable incomes, while Kosovo, the Republic of Moldova and Ukraine have the lowest incomes.
Overall, Liechtenstein residents have an average purchasing power of € 64,240, more than 37 times higher than that of Ukrainians. The next countries included at the top are Switzerland and Luxembourg, with net income / capita of 41,998 euros, respectively 34,119 euros.
The countries most affected by the coronavirus
In general, Europeans have just under € 9.5 trillion at their disposal in 2020, and the average purchasing power per capita shows a decrease of almost 5.3% compared to last year, a trend that can be attributed to primarily the spread of COVID-19 and the resulting economic impact, the study authors say.
The study prepared by GfK also contains the Corona Impact Index, which reflects the effect of COVID-19 in European countries and which calculated the degree to which European countries have suffered as a result of the effects of the pandemic.
Thus, Liechtenstein and Switzerland suffered the least as a result of the health crisis.
Also in Iceland and Norway, which occupy the fourth and fifth place in the ranking of purchasing power, the Crown Impact Index is 58% and 63% higher, respectively, compared to the European average. Both countries have been seriously affected by the coronavirus pandemic, one of the reasons is the devaluation of national currencies against the euro. The last place among the 42 countries in the ranking is occupied by Turkey, where the index is more than 2.8 times higher than the European average.
“GfK Purchasing Power Europe 2020” is available for 42 European countries with details down to the level of municipalities and postal codes, with details of data on inhabitants and households, as well as digital maps.
The Corona Impact Index shows the differences between the net disposable income lost due to the coronavirus crisis at the national and regional levels. The calculations are made on the basis of the most recent information and forecasts on net household income, consumer spending by private households and changes in gross domestic product.
