Europeans are getting richer, but not all equally? - What can we provide with real family income
"Real household income" is what you actually have after taxes and inflation. In northern Europe, high prices make a meal out much more expensive. In the east, wages have risen enough to cover the bill.
The common thread is that Europeans are getting richer. Since the COVID-19 pandemic, real household incomes have increased by about 7%. But if you look closely at the map, you realize: this is not the same for everyone. It is a very uneven increase.
The continent's east is currently ranked second. Poland, Romania, Hungary and Croatia are celebrating, with their real incomes having increased by around 15-20% in just five years.
Meanwhile, the north is on a diet. Sweden, Finland and Denmark have barely added to their table, stuck in growth that is very close to zero. Even those who have more than before, like Germany and Italy, have simply remained the same due to inflation.
Why this difference? "Real household income" is what you have left after taxes and inflation. Northern Europe seems to be lagging behind when it comes to real wage growth. In the east, wages are rising much faster.
But before we feel sorry for Western Europe, we should not forget that what we actually get is very different.
Citizens in Luxembourg and Germany still have the highest salaries in Europe, with purchasing power almost five times greater than that of Bulgaria.
In Luxembourg, an hour of work is enough for a festive meal, while in Bulgaria only for a small plate of pasta with sauce.
However, there is something else to add: to be honest, at least tomatoes in Sofia still taste like tomatoes.
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