Which EU Countries Are The Most Expensive (And Cheapest)?
Which EU countries are the cheapest, and which ones are the most expensive?
In this graphic, via Visual Capitalist’s Jenna Ross, we look at price differences across EU countries using data from Eurostat. Countries that are dark blue have the lowest relative prices to the EU average, while countries that are bright blue have the highest relative prices.
Relative prices were determined by the currency needed to buy the same product volume in different countries, calculated using actual individual consumption of goods and services and the exchange rate in each country.
EU Countries: Most to Least Expensive
Luxembourg has the highest prices among EU countries, at 52% higher than the EU average. In particular, education is pricier than anywhere else in the EU at 276% above average.
The country also has the highest wages in Europe, which helps support higher costs.
Data is as of 2023. Price levels indicate the currency needed to buy the same product volume in different countries.
At the other end of the scale, Romania has the cheapest prices at 46% below the EU average. The country has health costs 70% below average and education costs 62% below average. However, it also has the second-lowest median income after tax of €6,568.
Looking at the full list of EU countries, prices naturally tend to be higher in Western nations with a higher standard of living and higher incomes.
While prices are worth considering when deciding where to live, they can also be useful for travelers. For instance, many of the countries with prices below the EU average have been ranked as some of the most affordable places to explore.
To see more content about Europe, check out this graphic about how the population has changed in each country from 1990 to 2023.
Tyler Durden
Tue, 09/10/2024 – 02:45