Euronews Business looks at how real household incomes per person changed after COVID-19 and over the past decade.
Data from Eurostat shows that real household incomes per capita in the European Union have risen about 7% since the pre-pandemic period, but growth has varied significantly between countries. Nordic nations recorded only modest gains, while several Eastern and Central European countries saw stronger increases.
Across the last decade, from 2014 to 2024, household incomes per person in the EU increased by roughly 17%. Growth stalled in 2020 due to the COVID-19 pandemic, with some countries even experiencing declines, before resuming gradually in the years that followed.
Household income per person is calculated by dividing a household’s adjusted gross disposable income by the population. It reflects the money available to spend or save after taxes and pension contributions, and includes the value of public services like healthcare and education. Adjustments for inflation produce a “real” income measure that accounts for price changes.
Among EU countries, Croatia recorded the strongest growth since 2019, with household incomes up 26%, followed by Malta at 24%, Hungary 20%, Romania 19%, and Poland 16%. These figures put them well above the EU average of 7% over the five-year period. Many of the countries with the highest increases are outside the eurozone, meaning changes in national currency values also played a role.
By contrast, the Nordic countries saw far lower growth: Sweden’s real incomes rose just 1%, Finland 2%, and Denmark 3%. The EU’s largest economies also lagged behind the average. France and Spain recorded 6% growth, while Germany and Italy were closer to Nordic levels at 4%.
Over the full decade, non-euro countries again posted stronger gains. Romania led with 76% growth between 2014 and 2024, followed by Turkey at 68%, Hungary 55%, Croatia 51%, Bulgaria 45%, and Poland 42%. Malta was the only eurozone member in the top seven, with a 55% rise. Sweden recorded the lowest growth over the decade, with Finland at 10% and Denmark at 14%, all below the EU average.
While growth trends highlight where incomes have increased fastest, they do not show absolute income levels. In terms of purchasing power standards (PPS), Luxembourg tops the rankings with €41,552 per person. Germany, Austria, the Netherlands, and Switzerland follow, all exceeding €33,000. Household incomes in Belgium, France, Iceland, and Norway are above €30,000 PPS. At the lower end, Bulgaria recorded €7,802 per person, with Serbia at €13,311, and several Eastern European countries ranging between €20,000 and €25,000.
The PPS rankings have shifted little at the top over the decade, but Greece and Sweden lost ground, while the Netherlands, Hungary, and Romania improved. In theory, one PPS buys the same amount of goods and services across countries, allowing for consistent comparison of living standards.
