Shocking! Average Hungarian makes a living while earning half the money of an average European

Even though the salaries rose by 12 pc in Hungary in the recent year, this means only that the Hungarian average purchasing power per capita reached half of the European level.

In 2019, an average Hungarian could spend 2.43 million HUF (EUR 7,416) per year – Gfk, a market research company, calculated. This means that

an average Hungarian has 660 EUR

(203 thousand HUF after paying all the taxes) every month – hvg.hu reported. 

In their report, the company concluded that among the 42 European countries analysed, the average Hungarian purchasing power is 50.31 pc of the average European.

In Europe’s wealthiest country, Liechtenstein, this amount is 67,550 EUR which is 9.1 times more than its Hungarian counterpart. Switzerland is second on the list while Luxemburg is third. The poorest country is Ukraine with less than 1,830 EUR per capita, which is a quarter of the Hungarian amount.

János Kuti, leader of the geomarketing department of Gfk, highlighted that thanks to the 12 pc growth of the Hungarian salaries,

this is the first time that an average Hungarian lives from half the money of an average European.

In Budapest, the average purchasing power per capita was 25 pc more than the national average, 9,230 EUR, which is 770 EUR per month. Among the counties, Fejér is in the best position with 8,152 EUR (55.3 pc of the EU-average) while Komárom-Esztergom is not far behind with 8,131 EUR. Pest, Veszprém, and Győr-Moson-Sopron counties are all above the EU-average, as well.

The poorest county is Szabolcs-Szatmár-Bereg

where people can only spend 5,816 EUR per year.

Not enough? HERE we wrote that the Hungarian Central Statistical Office does many tricks to be able to tell that the average salary in Hungary is around 700 EUR because, in reality, most Hungarians get lower wages than this amount.

Despite low average salaries, Hungarian politicians have very good wages – details HERE. 

Source: hvg.hu