With an average per capita purchasing power of 52,566 euros, the Swiss have significantly more money available for their expenses and savings in 2024 compared to the residents of neighbouring countries Austria and Germany. Austrians have a per capita purchasing power of 29,266 euros, while Germans can spend an average of 27,848 euros this year. The new purchasing power studies for 2024 by GfK show that there are not only significant differences between countries but also within the respective countries, in terms of available net income.
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According to GfK's forecast, the total purchasing power in Switzerland, with more than 8.8 million inhabitants in 2024, amounts to a total of 463.4 billion euros (excluding Liechtenstein). In Austria, with more than 9.1 million inhabitants, the total amounts to around 266.5 billion euros, while the total purchasing power of the approximately 84.4 million Germans is 2,349.2 billion euros.
Markus Frank, GfK expert and Commercial Director in the Geomarketing division, comments: 'While Switzerland and Germany are experiencing moderate purchasing power gains this year of 3.2 and 2.8 percent, respectively, compared to the revised previous year's values, the increase in Austria at 6.7 percent is more than double. This further expands Austria's purchasing power lead over Germany, and based on current data, Austrians are likely to have more money available for spending and saving this year, despite inflation.'
Purchasing power measures the nominal available net income of the population, including state benefits such as unemployment benefits, child benefits, or pensions, and is available for consumption, housing, leisure, or saving. However, whether nominal purchasing power growth actually translates into higher disposable income depends on how consumer prices develop in 2024. By focusing the study on highlighting regional differences, it is shown how different regional purchasing power is both between and within countries.
More information:
GfK
www.gfk.com/de