WHERE TO MAKE THE BIG BUCKS?
The GfK is a good source for retail relevant data and consumer information. Follow the GfK Twitter account and you won’t miss out on useful information (these illustrations are frequently shared #mapofthemonth). Get your updates regarding purchasing power, retail turnover, the retail share of the population’s total expenditures and so on. Scroll down the gallery and find interesting facts that hopefully lead you into the right direction.
According to the GfK study, a total of approximately €9.18 trillion is available to European consumers in 2016 for spending and saving. This corresponds to an average per-capita purchasing power of €13,672 for the 42 countries evaluated in the study, which is a nominal increase of approximately 0.3 percent. The low growth in Europe’s average per-capita purchasing power is due to exchange rate effects and stagnating growth rates in some of the larger countries, among other factors. Nonetheless, many countries have growth rates above 5 percent, including Iceland, Bulgaria, Romania, Estonia, the Czech Republic, Bosnia-Herzegovina, Croatia, Malta, Slovakia, Luxembourg and Latvia.
PURCHASING POWER GERMANY
GfK forecasts a total purchasing power of €1,827.5 bil. for Germany in the coming year, which corresponds to a 2.9 percent nominal increase over the previous year. This equates to an average per-capita purchasing power of €22,239 that Germans have available in 2017 for spending on consumer purchases, accommodation, recreation and saving.
PURCHASING POWER FRANCE
France has an average per-capita purchasing power of €19,254, which puts it almost 41 percent above the European average and in 12th place, closely followed by Belgium (€18,983 per capita, in 13th place) and the Netherlands (€17,901 per capita, in 15th). With a per-capita purchasing power of €22,799, the region of Ile-de-France remains far ahead of the rest of the pack. As such, inhabitants of France’s capital region have on average 1.2 times more purchasing power than the national average.
PURCHASING POWER ITALY
Italy has an average per-capita purchasing power of €16,706, which is around the average of the EU-28 countries. This equates to 22 percent more than the total European average, putting Italy in 16th place among the 42 countries considered by the study.
With a per-capita purchasing power of €22,722, Milan is in first place among the country’s 112 provinces. Inhabitants of Milan thus have an average of 36 percent more than the national average.
PURCHASING POWER SPAIN
Spain has a 2016 per-capita purchasing power of €13,840, which puts it 1.2 percent above the European average and in 17th place. Spain is relatively alone in the middle of the European purchasing power ranking.
ABOUT
Purchasing power is a measure of per-capita disposable income after the deduction of taxes and social security contributions and including any received state benefits. The study indicates per-person, per-year purchasing power levels in euros and as an index value. GfK Purchasing Power refers to nominal disposable income, which means values are not adjusted for inflation. The study draws on statistics on income and tax levels, government benefits and forecasts by economic institutes.
Consumers draw from their general purchasing power to cover expenses related to eating, living, services, energy, private pensions and insurance as well as other expenditures, such as vacation, mobility and consumer purchases.
More info: gfk.com
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Pictures courtesy of gfk.com
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