Bucharest is among the richest regions in the EU, according to data from Eurostat and visualized by Visual Capitalist, coming in sixth place. The ranking considers regions by GDP per capita in purchasing power standards (PPS), an indicator that adjusts for differences in the cost of living between states.
Ireland’s Eastern and Midland region ranks first in the ranking, with a GDP per capita more than twice the EU average. Luxembourg and Southern Ireland are also far above average, supported in part by the activity of multinational companies.
Eastern Europe is represented by Prague and Bucharest-Ilfov, but also by Budapest, highlighting the concentration of wealth in major cities. Poland’s Warsaw region comes in at the end of the ranking, in 15th place.
The full ranking stands as follows:
Eastern and Midland (Ireland) – EUR 107,200 – 268% of the EU average
Luxembourg – EUR 97,700 – 245%
Southern (Ireland) – EUR 86,500 – 217%
Hamburg (Germany) – EUR 78,300 – 196%
Prague (Czech Republic) – EUR 76,600 – 192%
Brussels (Belgium) – EUR 76,000 – 190%
Bucharest-Ilfov (Romania) – EUR 75,000 – 188%
Capital Region (Denmark) – EUR 70,100 – 175%
North Holland (Netherlands) – EUR 69,900 – 175%
Upper Bavaria (Germany) – EUR 67,700 – 170%
Budapest (Hungary) – EUR 67,200 – 168%
Utrecht (Netherlands) – EUR 64,900 – 162%
Bolzano – South Tyrol (Italy) – EUR 64,200 – 161%
Île-de-France (France) – EUR 64,000 – 160%
Warsaw (Poland) – EUR 62,800 – 157%
EU average: EUR 40,000
Many of the richest European regions are centered around capitals or major economic hubs. Prague, Brussels, Paris (Île-de-France), and Copenhagen rank highly due to the concentration of government institutions, high-value-added service industries, corporate headquarters, and financial activities.
Bucharest-Ilfov and Budapest are among the top EU regions, even though their countries have lower levels of GDP per capita. The figures suggest that economic activity is concentrated in these centers, where multinational companies and advanced services raise productivity above the national average.
At the same time, Ireland and Luxembourg’s leader positions are partly explained by the presence of multinational corporations that register their global profits locally.
(Photo source: Nicoleta Raftu|Dreamstime.com)
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