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Increases the purchasing power of Spaniards

Spain remains in 17th place in the ranking of the 42 countries analyzed by the Gfk report

  • Key4Communications
14/12/2016

According to the data revealed by the GfK Purchasing Power 2016 study, Spanish purchasing power reached 13,840 euros in 2016, standing 1.23% above the European average (13,672), a fact that happens for the first time In the last two years. Thus, Spain remains in 17th place in the ranking of the 42 countries analyzed by the report.

Spain: Data by provinces
In this sense, the province with the highest purchasing power per capita is Guipúzcoa, in the Basque Country, with 18,483 euros; While the province of Cádiz occupies the last position in the ranking, with a purchasing power of 9,333 euros. For its part, the province closest to the Spanish average is Asturias, with a purchasing power of 13,706 euros.

Likewise, as in previous years, the first ten provinces of the ranking belong to five of the 17 autonomies of Spain. These are: Basque Country - which places its three provinces -, Navarre, Madrid, Catalonia - that loses Tarragona - and Aragon, which sum Huesca - according to the estimates of the consultant.

The national consumer market
According to the Growth Reporter report prepared by Nielsen, the Spanish consumer market reached its highest peak of the year with 3.6% in the third quarter. This figure improved significantly by 2.1% in the second quarter, and also by 3.1% in January-March.

Thus, during 2016, consumption consolidates its recovery due to improved consumer confidence, maintaining the positive momentum that began last year. In addition, as mentioned in the Nielsen report, the 3.6% increase experienced by Spain places the country as a growth leader in Europe, only surpassed by Turkey (8.1%).

European data
According to data from the Gfk report, in the case of Europe, the consultant ensures that citizens, in 2016, have a 0.3% more purchasing power per person compared to the previous year. Thus, approximately 9.18 billion euros are available this year for European consumers, both to save and to spend.

In this way, the consultancy says that the poor performance of purchasing power in Europe is due to the effects on exchange rates, as well as to the standstill of growth ratios in some of the large countries. Many of them, in this regard, have obtained growth figures of their purchasing power above 5% of the European average. Examples are Iceland, Bulgaria, Romania, Estonia, Czech Republic, Bosnia-Herzegovina, Croatia, Malta, Slovakia, Luxembourg and Latvia.

Great difference between countries
One more year, the Gfk report highlights the difference between European countries. Liechtenstein has the highest purchasing power in Europe, with almost 80 times more purchasing power per person than the citizens of Ukraine, who have the lowest levels.
The four largest countries (Germany, Great Britain, France and Italy) account for approximately 40% of the population in Europe, and almost 60% of the purchasing power of the entire region.

The four largest countries (Germany, Great Britain, France and Italy) account for approximately 40% of the population in Europe, and almost 60% of the purchasing power of the entire region.

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