Purchasing power in Germany will rise by a substantial 499 per capita in 2011. This development stems from the swift recovery from the financial crisis on the one hand, and higher wage expectations on the other. The regional evaluation of the data shows that Hamburg will benefit in particular. This is one finding of the survey carried out by GfK GeoMarketing.
GfK purchasing power for Germany in 2011 will total 1,610.2 billion, which is 2.6% more than in 2010. The average German can therefore expect purchasing power of 19,864 in the coming year, to spend on consumption, rent and the costs of living, for example.
According to economic experts, the economy will continue to recover in 2011, partly as a result of the positive trend in the labor market as well as the forecast rise in net wages and pension payments. However, there are factors that could still cause a change in the predicted purchasing power. At the moment, the Bundesbank is expecting an inflation rate of 1.7% for 2011. Therefore, just a few decimal places can affect how much disposable income people actually have. Moreover, higher social contributions are to be expected in many areas in the coming year, such as in health insurance for example.
Federal state comparison: Hamburg catching up
As a result of its positive development, the city state of Hamburg has climbed two places in the federal state rankings this year, moving into the number two spot after Bavaria and pushing both Hesse and Baden-Württemberg down a place respectively.
Despite positive development in the city state of Berlin (growth of 4%), as in the prior year the German capital remains in eleventh place in the federal state rankings. Together with Brandenburg, Berlin is around 10% below the federal average and consequently considerably ahead of Thuringia, Saxony, Mecklenburg-Western Pomerania and Saxony-Anhalt. These are all around 16% below the federal average.
Districts: Hochtaunus and Starnberg unbeatable
In Germany´s urban and rural districts, there is no change in the top 10 ranking of the districts with the highest purchasing power. The Hochtaunus district marginally expands its outstanding position with a purchasing power of 28,585 per capita, followed by the Starnberg rural district with 28,048 per capita, the Munich rural district with 27,031 and the Main-Taunus district with 27,022 per capita. It is notable that inhabitants in the district with the greatest purchasing power already have 4,400 more disposable income per year than inhabitants in the district ranked in tenth place.
Inhabitants in the poorest district in Germany, the Uecker-Randow rural district in Mecklenburg-Western Pomerania, have only just over half the amount available to spend as inhabitants in the wealthiest district.
In the rankings of the 412 districts in Germany, the most prosperous district in Eastern Germany, the Potsdam-Mittelmark rural district in Brandenburg, climbs the highest number of places: From 190th place in 2010, it now ranked 162nd with a net income of 19,584 per capita.
Growth in purchasing power in populous urban districts
Positive changes in the index value are recognizable among the major German urban districts in particular. Of the 10 biggest urban districts, nine are showing a clear rise in purchasing power per capita. Only Bremen fails to join in this upward trend.
Source: GfK Geomarketing