GVK: COVID affected purchasing power all across Europe

By: Trademagazin editor Date: 2020. 10. 20. 11:53

In 2020, the average European citizen will have 773 euros less, a total of 13,894 income. However, there are significant differences in net income between the 42 countries surveyed: Liechtenstein, Switzerland and Luxembourg boast the highest average purchasing power, while Moldova, Kosovo and Ukraine have the lowest purchasing power, according to GfK’s latest GfK Purchasing Power in Europe 2020.

In 2020, Europe’s population had 9.5 trillion euros income. Purchasing power per capita fell by nearly 5.3 percent in 2020, compared to the previous year. This is mainly due to the spread of the COVID-19 virus and its adverse economic impact.