Pur­chas­ing power packs lit­tle punch

Kathimerini English - - Focus - DIMITRA MANIFAVA

After seven years of fi­nan­cial cri­sis, do­mes­tic de­val­u­a­tion and tax hikes, Greece ranks 22nd among 42 Euro­pean coun­tries in terms of res­i­dents’ pur­chas­ing power, ac­cord­ing to a con­ti­nent-wide sur­vey by GfK mar­ket re­searchers.

The av­er­age per capita in­come in Greece amounts to 9,433 eu­ros per year, which is just over two-thirds (67.7 per­cent) of the Euro­pean av­er­age (13,397 eu­ros/year).

The pur­chas­ing power (dis­pos­able in­come after the de­duc­tion of taxes and so­cial se­cu­rity con­tri­bu­tions) of Greeks is the low­est among the coun­tries in the Euro­pean South that have had to deal with bailout pro­grams this decade. The av­er­age in­come in Spain is 14,080 eu­ros, in Por­tu­gal 11,152 eu­ros and in Cyprus 11,112 eu­ros.

The high­est av­er­age dis­pos­able in­come in Greece was recorded in the Re­gion of South­ern Aegean, whose is­lands are very pop­u­lar with tourists, amount­ing to 12,496 eu­ros, while West­ern Greece was found to have the low­est, at just 7,710 eu­ros.

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