Bucharesters already earn European wages, on average
<p>Residents of Bucharest are now the only people in Romania to have reached average annual disposable incomes of over EUR 18,500 for the first time this year, a level comparable to the European average, according to a recent study by NIQ GfK. In particular, residents of District 1 in the capital city have an average income of EUR 22,000 annually.</p>

<p>For the first time, Romanians in Bucharest can compare their purchasing power directly with the rest of Europe, based on data from the NIQ GfK study presented at the Retail Arena event.</p>

<p>However, this income level only applies to the residents of Bucharest, where the figure has now nearly matched the European average, standing at EUR 18,580 per person annually, compared to EUR 18,768 across Europe.</p>

<p>Nationwide, the average annual disposable income in Romania is about half the European average, at approximately EUR 9,000. This is the amount Romanians have to cover various expenses such as loan payments, rent, and retail purchases.&nbsp;</p>

<p>Besides Bucharest, the highest incomes are found in Timișoara, Cluj, and Sibiu.</p>

<p>By far, the highest disposable income is in District 1 of Bucharest, where residents have an average of EUR 22,000 at their disposal.</p>

<p>“The figure recorded for Bucharest is very high, as it was previously in the range of EUR 14,000 to EUR 15,000,” said Raluca Mănărcescu, Commercial Lead of the Tech &amp; Durables Department at NIQ GfK, during the Retail Arena event, as quoted by <a href="https://www.economica.net/premiera-pentru-romani-veniturile-medii-anuale-din-bucuresti-au-ajuns-la-nivelul-celor-din-europa-un-locuitor-din-sectorul-1-are-de-cheltuit-22-000-de-euro-anual782388_782388.html?mc_cid=7b9c904fa0&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Economica.net</a>. “District 1, with an average of EUR 22,000 per resident per year (net), is already 20% above the city-wide average, making it the area with the highest purchasing power.”</p>

<p>For comparison, the average disposable income in London is EUR 70,484, while in Zurich, it stands at EUR 73,660.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: <a href="https://www.dreamstime.com" rel="noopener" target="_blank">Aaron Amat/Dreamstime.com</a>)</em></p>