Purchasing power in Luxembourg is highest in the EU

This was reported on Thursday by the European statistics agency Eurostat, which looked at gross domestic product (GDP) per capita. This makes it easier to compare which countries and regions are poorer than others within the bloc. The Netherlands is above the average of the European Union and the slightly richer eurozone.

In Luxembourg, the value of the economy per person is more than 2.5 times higher than the EU average. According to the statisticians, this is due to the fact that many people from neighbouring countries Belgium, France and Germany work in that country. Their wages therefore count towards the Luxembourg economy.

Ireland is not far behind Luxembourg. Many international companies are based in that country and often transfer their intellectual property there for tax reasons. That is worth a lot of money, making the Irish economy relatively large.

On average, Bulgarians provide 41 percent less economic value than the EU average, putting them at the bottom. Slovakia and Greece are also in the lower regions.

In the Netherlands, everyone accounts for 1.3 times the average EU value of the economy. This puts us just behind Denmark and just ahead of countries like Austria, Belgium, Sweden and Germany. The average Frenchman represents 1 percent more economic value than the average EU resident, Italy is 4 percent below the average.

Italy is preparing a package of measures worth 5 billion euros to compensate residents and businesses for high energy prices. Rome mainly wants to reassess and extend already existing measures. Among other things, the Italian cabinet wants to continue to financially support low-income households until June.