Japan’s currency is very low which probably affects this, have a hard time believing that Japan is less rich per capita than these places
Lots of new tech and borderline libertarian policies from what I understand so their economy might have some volatility but nonetheless a very interesting economy and test case to look at for all of Europe, especially since they don’t have a legacy with the errors of Western European economies.
Southern Europe needs to get its act together. The East/West economic gap will be a North/South one across Europe by 2035 at this rate.
This is PPP (purchasing power parity).
This means average (not median) Estonians or Lithuanians have more purchasing power in their respective countries if compared to average (not median) Spaniards in Spain.
This probably because of cheaper goods in those two countries.
In terms of nominal GDP an average Spaniard is still richer at the moment, that means that if an average Spaniard goes to Estonia or Lithuania with his Spanish average salary he would have a bigger purchasing power than the local population.
Another thing I would like to add is that “current prices GDP” doesn’t show currency fluctuations so not very accurate, it is better to use GDP with the dollar value pegged to some specific year.
**Proud pagan barbarian noises**
C’mon Latvia!
minimum wage in Lithuania after taxes 550€ what Japan? lmao
Baltic tigers.
Oh my God with GDP PPP per capita again. The same metric that places Bucharest among the first in Europe for GDP per capita, above Munich and London.
GDP is NOT meant to measure purchasing power, and it makes zero sense to adjust it for local prices. There is a reason why the same service might be valued 2x in Spain than in Lithuania.
It’s literally a bullsh*t measure and 90% I see it used is from Eastern Europeans that want to make their countries look better.
Who cares when we have a sun and siesta.
GDP is cringe
Notices a graph with GDP per capita, PPP.
*Grabs popcorn.*
according to World Bank estimates Slovenia and Czech Republic surpassed Spain too in terms of GDP PPP, Poland is next in line
Would still much rather live in Spain or Japan than Lithuania or Estonia.
This development is quite impressive, but the method of measurement is not very well suited to measuring prosperity. In actual individual consumption per capita in PPS, Lithuania is far ahead of Estonia and Spain, while Estonia is behind Spain. Unfortunately, I do not know the data for Japan.
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That’s kind of insane.
Japan’s currency is very low which probably affects this, have a hard time believing that Japan is less rich per capita than these places
Lots of new tech and borderline libertarian policies from what I understand so their economy might have some volatility but nonetheless a very interesting economy and test case to look at for all of Europe, especially since they don’t have a legacy with the errors of Western European economies.
Southern Europe needs to get its act together. The East/West economic gap will be a North/South one across Europe by 2035 at this rate.
This is PPP (purchasing power parity).
This means average (not median) Estonians or Lithuanians have more purchasing power in their respective countries if compared to average (not median) Spaniards in Spain.
This probably because of cheaper goods in those two countries.
In terms of nominal GDP an average Spaniard is still richer at the moment, that means that if an average Spaniard goes to Estonia or Lithuania with his Spanish average salary he would have a bigger purchasing power than the local population.
Another thing I would like to add is that “current prices GDP” doesn’t show currency fluctuations so not very accurate, it is better to use GDP with the dollar value pegged to some specific year.
**Proud pagan barbarian noises**
C’mon Latvia!
minimum wage in Lithuania after taxes 550€ what Japan? lmao
Baltic tigers.
Oh my God with GDP PPP per capita again. The same metric that places Bucharest among the first in Europe for GDP per capita, above Munich and London.
GDP is NOT meant to measure purchasing power, and it makes zero sense to adjust it for local prices. There is a reason why the same service might be valued 2x in Spain than in Lithuania.
It’s literally a bullsh*t measure and 90% I see it used is from Eastern Europeans that want to make their countries look better.
Who cares when we have a sun and siesta.
GDP is cringe
Notices a graph with GDP per capita, PPP.
*Grabs popcorn.*
according to World Bank estimates Slovenia and Czech Republic surpassed Spain too in terms of GDP PPP, Poland is next in line
Would still much rather live in Spain or Japan than Lithuania or Estonia.
This development is quite impressive, but the method of measurement is not very well suited to measuring prosperity. In actual individual consumption per capita in PPS, Lithuania is far ahead of Estonia and Spain, while Estonia is behind Spain. Unfortunately, I do not know the data for Japan.