Belgians' spending power plummets

14th November 2007, Comments 0 comments

15 November 2007, BRUSSELS - Over the past twelve months there has been a deterioration in Belgium's position in the international spending power league.

15 November 2007

BRUSSELS - Over the past twelve months there has been a deterioration in Belgium's position in the international spending power league.

The average Belgian now has EUR 17,143 to spend each year. The Irish have improved their position considerably. This puts Belgium in twelfth place in the international spending league according to a study carried out by the consultants GfK.

Two years ago Belgium featured in 8th position.

The French and the Germans both have more money to play with than the Belgians.

Fortunately, Belgians are better off than the Dutch.

The Swiss and the people of Liechtenstein are best off with EUR 27,521 annually.

They are followed by the Luxembourgers (EUR 27,395) and the Norwegians (EUR 24,993).

The daily De Standaard on Wednesday reported that Ireland was the country that was making the biggest advances.

The spending power of the Irish has increased by 30 percent in only 4 years. Ireland now comes in fourth place.

The average Ukrainian only has EUR 1,487 to play with each year.

Belgians are better off than the people of central and Eastern Europe. Moldova, Ukraine and Albania feature at the bottom of the ranking that includes 40 countries.

The survey also identifies big variations within countries.

The ranking takes account of the cost of living in individual countries and social benefit levels.

[Copyright Flanders news 2007]

Subject: Belgian news

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