Seems like the new epic Nomical GDP vs GDP PPP battle just dropped
. In case any of you were tired of the endless arguments whether the USA or China are the world's "true" biggest economy, which always just boil down to whether nominal or PPP GDP is a better measure of that, since the former is the world's biggest economy in nominal and the latter in PPP, we just got this.
www.visualcapitalist.com
Apparently, taking cost of living into account, a two-earner Turkish family where both parents earn their country's average wage actually has a relatively higher income than their counterparts in most of Europe. Only Germans, Austrians, Norwegians, the Dutch, Luxembourgers, Icelanders and the Swiss do so, meaning that, by this measure, the average two-earner Turkish family lives better than their counterparts in all of Eastern and Southern Europe, all big EU countries except Germany, and all Scandinavian countries except for Norway. Interesting.
. In case any of you were tired of the endless arguments whether the USA or China are the world's "true" biggest economy, which always just boil down to whether nominal or PPP GDP is a better measure of that, since the former is the world's biggest economy in nominal and the latter in PPP, we just got this.
Ranked: European Countries by Income, Adjusted for Living Costs
Comparing 30 European countries by income before and after adjusting for living costs reveals some surprising insights in relative purchasing power.
www.visualcapitalist.com
Apparently, taking cost of living into account, a two-earner Turkish family where both parents earn their country's average wage actually has a relatively higher income than their counterparts in most of Europe. Only Germans, Austrians, Norwegians, the Dutch, Luxembourgers, Icelanders and the Swiss do so, meaning that, by this measure, the average two-earner Turkish family lives better than their counterparts in all of Eastern and Southern Europe, all big EU countries except Germany, and all Scandinavian countries except for Norway. Interesting
.
