Shocking: Budapest is one of the poorest Central European capitals
Hungary would need 900 years to reach the purchasing power level of Vienna, Austria’s capital, according to a survey conducted by Eurostat, the EU’s statistical office. Among the capitals of the post-Communist Central and Eastern Europen region, Budapest is the second poorest, following Zagreb. Meanwhile, Bucharest developed significantly between 2013 and 2021, preceding even Vienna.
Hungary and Budapest among the poorest in the EU
According to Eurostat’s latest survey, in 2021, the “net primary income per inhabitant was 20,700 purchasing power standard (PPS), up from 19,500 PPS in 2020” in the EU. The wealthiest NUTS 2 (nomenclature of territorial units for statistics) regions are in Germany (Oberbayern being the wealthiest in the EU), France, Belgium and the Netherlands. The poorest are in Eastern Europe, including Hungary’s Northeastern, Croatia’s Eastern regions and several Romanian and Bulgarian territories.
“The use of data in PPS, rather than in euro, takes into account the price level differences between countries. One PPS can buy the same amount of goods and services in each country, regardless of local price differences”, the Eurostat wrote.
According to 24.hu, Budapest’s result in the statistics is disappointing especially if we compare it with Bucharest. Only Zagreb is poorer than Budapest among the post-Communist countries of the region. However, the statistics are not entirely comparable because Slovenia’s and Bulgaria’s capitals are not regions. If they were alone in the statistics without their presumably lower-income surroundings, they would probably score better.
Bucharest’s development is impressive
Budapest’s lagging behind the other capitals is spectacular in the 2013-2021 period. The Hungarian capital could not precede any of the region’s capitals even though the difference between Budapest and Vienna, Warsaw or Bratislava (Pozsony) decreased. However, the enrichment of Sofia (and its region) and Prague was quicker than Budapest’s. Moreover, Bucharest emerged from the last but one position to the top.
Therefore, 444.hu wrote that Hungary needed more than 900 years to precede Vienna. Budapest needs “only” 30 years, but it’s important to note that the Austrian capital is Austria’s second poorest NUTS 2 region. Meanwhile, Budapest is Hungary’s wealthiest.
Read also:
- Budapest’s magical Lumina Park opened, Gödöllő’s astonishing Light Park will open – PHOTO GALLERIES, VIDEOS and more in THIS article
- New decree: A wider, greener, and more comfortable high-speed road to connect Budapest Airport with the city
Featured image: depositphotos.com
please make a donation here
Hot news
Hungary rises in global retirement rankings: Top countries for a happy retirement
Hungarian Wizz Air reopens base with 16 direct routes!
Trump’s triumph could mean PM Orbán’s defeat and a government change in 2026
In January, you can buy around 40 astonishing Hungarian castles!
Hungarian government may give outstanding boost for Hungary’s tourism sector
Significant shift in Hungary’s weather: first snow on the horizon
1 Comment
The Real Person!
The Real Person!
FACT.
Hungary = of the 27 European Union country’s, rated 26th.
Hungary – the pressurization of the “collapsing” Economy, on the Forint, it’s on-going de-valuation, the outlook continues, delivered to this “Place of Horror” in millions in Hungary, by the Orban – Fidesz Government.
It WILL worsen.
There is NOTHING from an Economic and Financial perspective, that includes the Central Bank of Hungary, that can be introduced to act in any way as a STABLIZER into the economy of Hungary.
REMEMBER – no other (2) two individuals BEAR on there SHOULDERS the BLAME for the cataclysmic disaster as is the Economic & Financial current worsening downward trending position than – the Prime Minister of Hungary – Victor Mihaly. Orban and his “Dud” – Minister of Finance – Mihaly Varga.
Hungary – we have been FAILED.