For the EU, the GDP per capita in US dollars was $37.4K. This 2022 number is little changed since 2007 ($37.0K). Since the UK is no longer in the EU I looked the United Kingdom. GDP/capita peaked in 2007 and was at $45.8K in 2022.
These levels are below all US states including Mississippi ($47.2). Odd.
https://www.macrotrends.net/countries/GBR/united-kingdom/gdp-per-capita
DB2
Exchange rates:
2007 EUR/ USD 1.24
2022 EUR/ USD 1.05
Why do you think the gdp per capita ireland is over 100k?
The British publication said Ireland’s corporate tax regime made it a hub for about 1500 multinational tech and pharmaceutical companies.
Their income inflated Ireland’s GDP, but most of it was funneled abroad and should not be fully counted when measuring the size of Ireland’s economy, The Economist said.
The way multinational firms accounted for their assets and profits created staggering GDP increases in Ireland from 2015, big enough to “warp averages across the Eurozone”, The Economist said.
Why would that be odd? Is there a correlation between per capita GDP, and the lifestyle of the average person? Or do Alabama and Mississippi have a reputation for squalor, while western Europe has a reputation for the average working person having a lifestyle of relative comfort, because Europe is a nest of “Commies” who spread the money around more, vs the “pro-growth, job creating” policies of the US, where concentration of wealth is the priority?
Steve
Because demand side econ propagates it.
I doubt the EU numbers are the same in Germany as in Spain. Or in Greece which I heard has had a huge increase as in Portugal.
The US GDP per capita was crap under Reagan through Trump. Now we are seeing it rise going forward.
Probably because GDP includes too many “pass through” items and companies use Ireland as a pass through for quite a lot of finance.
I think Iceland was similar in the early 2000s, until the GFC.
Because Mississippi is the poorest state and yet its GDP/capita is higher than the average European country. I didn’t realize that the Europeans were relatively poor.
DB2
I saw a different list, perhaps this is in a different currency.
Partly
The reason is Irish taxes go sky high at 60k Euro. You get the big ticket items pension and healthcare. This means the average income goes a lot further. That builds the Irish economy. Just having money parked in bank accounts does not build Irish wealth. It is wealth but building wealth in an economy is worth much more.
We keep taxes low which is a job killer.
Biden hiked taxes a bit and is not creating a much healthier economy.
They are not necessarily. When you get old in America you can lose your savings to healthcare.
It is one thing to have money. It is another thing to keep your money.
Case one: where 100 people each pocket tens of millions per year, while 100,000 live in poverty. Case two, where no-one pockets over a million per year, but no-one lives in poverty. Which place is “richer”?
Steve
Not even close to the truth.
What is the real GDP per capita of Mississippi?
Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2022, at 79,434 U.S. dollars, followed closely by Massachusetts. Mississippi had the lowest per-capita real GDP, at 35,555 U.S. dollars.Nov 3, 2023
Real per capita GDP by state U.S. 2022 | Statista.
Now the “Nominal GDP per capita” in Mississippi is $47,190
Europe breaks out as northern, central and southern.
Note Russia’s per capita income in 2021 was $12k. Pitiful.
Very interesting I can retire to Portugal or Spain where the cost of living is much less. Situate myself by a good city hospital in the suburbs. Better than Florida easily.
I object. This is a total misnomer. Demand-side economics makes a country wealthier. There are more millionaires. In the US about 1 in 10 households have one million in assets or more.
One In Eight Irish Households Is Worth A Million Euro Or More - Central Bank | SPINSouthWest.
Number of Irish billionaires falls, but 'super-rich' figures on the rise.