The Richest and Poorest Countries in Europe

Residents of Liechtenstein are the richest in Europe, while Moldovans are 45 times poorer, according to a new German study. According to this research, Spaniards are closest to the average European purchasing power of 13,000 euros per year, European media report.

Conducted in 42 countries, the study by the German agency GfK Geo Marketing analyzes the incomes and savings of their residents after taxes have been paid.

Croatia is below the European average at 30th place with a purchasing power of 5,085 euros, which is 60 percent of the European average. Liechtenstein ranks first with about 57,000 euros per person per year. This alpine country is a tax oasis with more registered companies than citizens and a successful financial sector. Neighboring Switzerland, which shares a currency and customs union, is third on the list, after oil-rich Norway, which is also not an EU member.

The richest country in the EU by purchasing power is Luxembourg, whose citizens have 28,924 euros per year. This is more than double the European average in Spain and Italy of about 13,000 euros. At the other end of the scale are Moldova, Belarus, and Kosovo, whose residents earn ten times less than the European average.

Regional differences are significant in many countries. Residents of Paris are almost twice as wealthy as the national average, while a quarter of Bulgaria’s wealth is concentrated in Sofia. In Poland, this difference ranges from 3,626 euros in the southeast of the country to 9,969 euros in Warsaw. Denmark, which ranks fifth in purchasing power, has the most balanced distribution of wealth among regions: residents of Copenhagen earn 23,442 euros per year, while in Northern Jutland, they earn 21,033 euros.

The study also analyzes total wealth in Europe, with Germany at the top, followed by France and the United Kingdom. The three largest economies in the EU represent almost half of the total purchasing power in Europe, while the remaining 53 percent is divided among 39 other countries. Poland and Turkey, where purchasing power per capita is below average, are also among the top ten countries in terms of total wealth.