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Europeans are getting richer. Since the COVID-19 pandemic, real household income has jumped by about 7%. But if you look closely at the map, you realise: this is not a shared meal. It is a very unequal dinner party.
And right now, the continent’s east is ordering seconds. Poland, Romania, Hungary and Croatia are feasting, with their real incomes growing by around 15-20% in just five years.
Meanwhile, the north is on a diet. Sweden, Finland, and Denmark have barely touched their food, stuck with almost zero growth. Even the heavy eaters like Germany and Italy are just picking at their plates.
Why the difference? “Real household income” is what you can actually swallow after taxes and inflation.
In the north, high prices ate up the entire meal. In the east, wages grew fast enough to beat the bill.
But before you feel sorry for Europe’s west, remember: portion sizes are still very different.
Citizens in Luxembourg and Germany still have the largest plates in Europe, with purchasing power nearly five times that of Bulgaria.
Which brings us to the “Avocado Index.”
In Luxembourg, an hour of work buys you enough for a party-sized bowl of guacamole. In Bulgaria? Just a small dip.
But if you are not a stereotypical millennial, who, friendly reminder, is now in their mid-30s and probably due for a colonoscopy soon, maybe pick a tomato instead.
Because let’s be honest — at least the tomatoes in Sofia actually taste like tomatoes.
Watch the Euronews video in the player above for the full story.
Read the full article here
