This is how Hungarian average earnings and purchasing power compare to Europeans

By: Trademagazin Date: 2024. 07. 23. 12:30

There are significant differences in average annual net earnings between European countries, even after adjustments are taken into account. Based on the latest data from Eurostat, Switzerland, Iceland and Luxembourg lead the list with the highest average salaries, while Eastern and Southern European countries report much lower values. These differences arise from country-specific regulations, labor laws, industry differences and economic development.

Switzerland leads the way with an average net annual salary of 85,582 euros, far exceeding other European countries. Average earnings in Iceland and Luxembourg are between 53,885 and 49,035 euros. Norway and the Netherlands also registered high net earnings of over 45,000 euros. The average annual net income of the European Union (EU) is 28,217 euros, which can serve as a benchmark.

Average earnings in some key countries
France: €31,481
Sweden: 33,926 euros
Italy: €24,207
Spain: €23,568
Germany: €38,086
United Kingdom: €35,783 (2019 data)
The lowest average earnings in Europe

At the end of the list are Turkey and Bulgaria, where the average annual net earnings are 8,968 and 9,355 euros, respectively. Eastern European countries such as Romania (11,105 euros), Croatia (12,330 euros) and Hungary (12,456 euros) are also at the lower end of the earnings scale.
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