Equivalized net income in Europe - Where do families earn the most? Luxembourg leads
Despite the shared values and culture that unite the continent, Europe continues to face significant income inequalities. Although the gap narrows when adjusted for purchasing power, differences between countries remain significant.
Over the past few years, European families have faced a major cost-of-living crisis, driven by the fallout from Russia's war in Ukraine and the disruptions to supply chains following the pandemic.
According to 2024 data, median equivalised net income, an indicator that calculates income per person taking into account family size and taxes, ranges from 3,910 euros in North Macedonia to 50,799 euros in Luxembourg. Within the EU, Bulgaria registers the lowest level at 7,811 euros, while the Union average is 21,582 euros.
After Luxembourg, Switzerland and Norway top the list, followed by Denmark, Austria, Ireland, the Netherlands and Belgium, with incomes between 30,000 and 35,000 euros. Next in line are Finland, Germany, Sweden and France, all above the EU average.
On the other side of the spectrum, North Macedonia, Turkey and Montenegro remain at the bottom of the list, while Hungary and Romania, alongside Bulgaria, record incomes below 10,000 euros.
The figures show a clear geographical divide: Western and Northern European countries enjoy significantly higher living standards than those in Eastern and Southern Europe. The gap between Luxembourg and Bulgaria exceeds 40,000 euros.
According to economists, productivity and industrial composition play a key role. “Countries with high-value sectors, such as finance, technology or advanced manufacturing, can afford higher wages, while economies based on agriculture or basic services pay less,” they said.
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