Purchasing power in Germany will rise by a substantial EUR 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 EUR 1,610.2 billion, which is 2.6% more than in 2010. The average German can therefore expect purchasing power of EUR 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.
