The purchasing power of the average Croatian citizen amounts to approximately 4,808 euros, which is only about one third of the European average, according to an analysis of the purchasing power of citizens in 42 European countries conducted by GfK GeoMarketing.
The average purchasing power per capita for Europe is 11,945 euros and shows a slight increase of 2.1 percent compared to last year when it was 11,699 euros, GfK reported. Croatia is ranked 29th with an amount that is only about 34 percent of the European average. Compared to last year, Croatia has fallen two places in the ranking of 42 European countries where the purchasing power index is calculated. New data on purchasing power show that due to the economic crisis, wealthier countries experienced only a slight decline, with the exception of Sweden, where there was a notable increase, while Portugal, Italy, Ireland, Greece, and Spain recorded a larger decline.
A notable increase of about 10 percent occurred in Turkey, which has now surpassed countries with stronger crisis impacts such as Hungary, Croatia, and the Baltic states. A comparison of Croatia (4,808 euros) with Slovenia (10,045 euros) shows that purchasing power there is significantly higher, already at about 84 percent of the European average. Slovenia is ranked 20th. Some other transitional countries have also surpassed Croatia – the Czech Republic is in 23rd place with 6,893 euros, Slovakia 24th with 6,737 euros, Poland 25th with 5,377 euros, and Hungary 27th with 5,048 euros. Purchasing power represents the sum of all available financial resources per capita – net income of citizens, and is one of the most significant indicators of consumer potential. The sale of goods and services directly depends on the level of purchasing power. (H)
