For people in Germany, purchasing power is likely to remain about as strong in 2024 as it was in the previous year. According to a forecast, an average of 27,848 euros per capita will be available for consumer spending, housing, leisure and savings this year. This is the result of a study published by the market research institute GfK on Wednesday in Nuremberg. Consumers have the least in the city state of Bremen (24,702 euros), Bavaria takes first place (30,130 euros).
Compared to 2023, there is a nominal increase of 2.8 percent or 767 euros per person nationwide. In real terms, i.e. taking price increases into account, the total is about the same as last year.
The increase in disposable income would at least be able to compensate for the inflation of 2.7 percent currently forecast by the Bundesbank, said GfK retail expert Filip Vojtech. However, due to the political uncertainty, consumer spending continues to be subdued, so people in Germany will probably save more money again this year.
In the ranking of the federal states, Bavaria continues to have the most money to spend (30,130 euros). As in the previous year, Baden-Württemberg (29,675), Hamburg (29,657) and Hesse (28,613) occupy places two to four. Bremen is the new bottom with 24,702 euros. The city-state’s residents have more than 11 percent less money at their disposal than an average German.
As in the previous year, the Bavarian district of Starnberg is in first place among urban and rural districts. Residents there have an average of 38,702 euros at their disposal. The North Rhine-Westphalian urban district of Gelsenkirchen continues to take last place. At 22,007 euros, the people of Gelsenkirchen have 21 percent less than the national average. The capital Berlin is around 5 percent below the German average, Düsseldorf 15 percent above, Munich even almost 29.
The study takes into account the disposable net income including state transfer payments such as pensions, unemployment benefits and child benefits. Expenses such as living costs, rent and additional costs for gas or electricity have not yet been deducted. (dpa)