Hungarian financial panorama: Budapest dwellers are the wealthiest

According to vg.hu, the net fortune of an average Budapest dweller is 17.3 million forints (~56,150 euros), while the same number only reaches 5.5 million (~17,850 euros) in the northern part of the Great Hungarian Plain. The greatness of fortune doesn’t only depend on geographic regions, but also the size of households.

People’s financial situation show huge differences in Hungary. It’s not surprising that the wealthiest households are in Budapest, the biggest GDP/person producer of the country. On the other hand, people in the eastern and north-eastern parts of the country live in the worst conditions.

According to the survey conducted by the Hungarian Statistical Office in the end of 2014 (published now), the average net fortune of Central Hungarian households is 26.1 million forints, which equals 15.3 million/person. The fortune of people living in this region is 1.5 times bigger than the countrywide average.

In the Central Hungarian region, the average net fortune of Budapest households is 28 million forints, which means 17.3 million/person. The second richest region, West-Transdanubia lags behind by 20%, the fortune/person rate is 10.4 million here. The poorest region is still the northern part of the Great Hungarian Plain, where households have an average of worth 10.4 million fortune and a fortune of 5.5 million per person, which is the 1/3 of the Budapest rates.

The financial situation of households mostly depends on their labour market situation. Constant work is the basic condition for a household to be able to stack fortune: the average net fortune of active households is 20.7 million forints, while the rate is only 7 million in places where the main employee is currently unemployed. The net fortune of other inactive households reaches 9.6 million.

The financial situation of households is highly affected by whether these families have kids. It is a further question, how many of the kids are underage. The average fortune of households without kids is 14 million forints, while it is 19.3 million in the case of households with kids. The average fortune/person in the latter group is 4.9 million, while it is 7.9 in the former.

Parents raising their children alone are in the most disadvantaged situation: in cases of a single parent living with a single child the average fortune/person is 3.5 million forints. Out of the households with kids the 2 parent + 1 child structure means regularly the biggest fortune/person, 5.9 million forints. Regarding all types of households, the biggest net fortune, 9.9 million forints, belongs to single adults.

Copy editor: bm

Source: http://www.vg.hu/