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Luxembourgers continue to hold their place as the wealthiest EU citizens. Their purchasing power in 2022 was more than 2.5 times greater than the EU-27 average. This is evident from a Eurostat flash estimate on GDP per inhabitant expressed in terms of purchasing power on Monday.
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Compared to the European average of 100, GDP per capita in Luxembourg, which largely depends on its financial sector, was no less than 161 percent higher. According to statisticians, this is because a lot of people from neighboring countries work in Luxembourg: their wages count for the Luxembourg economy.
Ireland follows not far behind Luxembourg (+134 percent above the EU average). Many international companies are located in that country and they often store their intellectual property there for tax reasons. That is worth a lot of money, which makes the Irish economy relatively large.
Denmark (36 percent above the average), the Netherlands (30 percent) and Austria (25 percent) follow at a distance. Belgium is in sixth place, with a GDP per capita that is 21 percent higher than the EU average. The lowest scores were for Bulgaria (59 percent of the average) and Slovakia (67 percent).
The statistics say nothing about purchasing power at a national level, but express which countries are richer or poorer within the EU.