While our economy is ranked 6th amongst the EU and 23rd in the world, we are still not close to attaining an average wealth level when compared to other members of the European Union. Our current rate stands at a meager 76% according to recent statistics. This is unfortunately met with great disappointment as our western counterparts, such as Germany, have attained 120% of that same EU average.
Germany remains in this exclusive group, being one of the wealthiest countries globally. Luxembourg ranks as the most prosperous among all other nations with its 134% score, leading Germany and eight other prominent contenders- Austria, Denmark, Belgium, Netherlands United Kingdom, Finland Sweden and France – to make up the top ten.
Unfortunately, Poland is further away from the wealthy countries and closer to those at the bottom of rankings. For example, we are just behind Romania (71 percent). Following close in its wake were Slovakia (73 percent), Hungary (64 percent) and Bulgaria with a score of 56%. Let’s not celebrate just yet.
Average Salary in Poland
The average income available to a Pole each year after taxes and social and health insurance contributions is 9,254 euros. This is 43 percent less than the European average.
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An average Kowalsky spends about €790 per month on products like food, housing, and services. This amount also includes things like vacations and transportation. It also includes any money that the person saves. Worth remembering: this is the amount for one person in the household and applies to income from all sources, including social benefits.
Comparing Wealth Within Europe
Switzerland is number one on the list of wealthy nations, and the people who wrote the report say that this very close to Liechtenstain which is second. Swiss GDP is high because of multinational companies that are involved in their financial system and banking.
As such, Denmar assumes the benchmark of European Union countries in this ranking and is placed first. Louxembourg and Germany take up subsequent positions as these nations possess expansive private economies as well as top-notch public services.
On the contrary, Bulgaria, Romania and Croatia occupy spots at the bottom due to their lowest scores on the Wealth of Nations Index.
The Nature of Poverty in Poland
Let me explain the situation this way. Imagine a Danish company that is leveraging its entire product supply chain, from manufacturing in Poland to distribution on the German market. And if that wasn’t impressive enough already, they’ve added an extra layer of 'Danish value’ at their headquarters – additional remuneration for managing logistics and securing group profits. When it’s all said and done, the invoice gets sent to one final destination: a subsidiary based in Germany responsible for overseeing sales.
Companies that make and manage the global value chain of their products have a huge influence on how wealthy our country is. If there was more homegrown ownership, imagine how much money it could bring back to us – twice as much. With some well-qualified Polish leaders at the helm of these types of businesses, we could benefit from higher wages for Poles – now that would be amazing.
Assessing the Economic Health of Poland Against Its Eastern European Neighbors
For years, Switzerland and Denmark have been the top two European countries for earning power. Though these places may seem distant to some Polish emigrants, Germany and Norway are much closer – yet those seeking gainful employment still prefer them over America or Canada. The salaries in both Switzerland and Denmark rank among the highest worldwide – even more than what you’d make on average within the U.S.
Here is a list of the european countries and average monthly gross salaries (according to 2021 statistics):
- Austria 4400 € or 20738 zł
- Belgium 5120 € or 24131 zł
- Bulgaria 944 € or 4450 zł
- Croatia 1536 € or 7240 zł
- Cyprus 2368 € or 11161 zł
- Czech Republic 1808 € or 8522 zł
- Denmark 6432 € or 30315 zł
- Estonia 1728 € or 8145 zł
- Finland 4624 € or 21793 zł
- France 4112 € or 19380 zł
- Greece 2176 € or 10256 zł
- Spain 2720 € or 12820 zł
- Netherlands 4768 € or 22472 zł
- Ireland 4816 € or 22698 zł
- Lithuania 1744 € or 8220 zł
- Luxembourg 6096 € or 28731 zł
- Malta 2528 € or 11915 zł
- Germany 4640 € or 21869 zł
- Poland 1504 € or 7089 zł
- Portugal 2032 € or 9577 zł
- Romania 672 € or 3168 zł
- Sweden 4320 € or 20361 zł
- Slovakia 1696 € or 7994 zł
- Slovenia 2832 € or 13348 zł
- Hungary 1344 € or 6335 zł
- Italy 3360 € or 15836 zł
- Latvia 1408 € or 6636 zł
By the way, you may also be interested in reading by other article I wrote. You will find out, that actually there are cities in Poland where people earn around 400 EUR per month on average. Check it, please:
The Plight of Poland’s Poorest City: A Closer Look
What are the Contributing Factors to Poverty in Poland?
It is a different world we live in today. Nations have become more competitive and interconnected than ever before, with corporations extending far beyond their home countries. Unfortunately for us Poles though, we are too busy competing against each other instead of being able to stand up on the global stage like our counterparts from other nations do.
Our elites may not truly understand just how intricate the mechanisms of this new economy can be – thus supporting those who wish to compete with us rather than collaborate or strive towards higher standards of living that some Western companies so often enjoy due to them prioritizing profits above all else!
It’s high time I take matters into my own hands by implementing real change now which will benefit everyone here at home as well as abroad – because it’s no secret: when one nation helps another out through understanding these modern markets, then everybody wins.
Solutions for Fighting Economic Problems
In recent years we’ve seen the government take significant steps towards giving Polish citizens a leg up in competing with foreign counterparts. This includes introducing Estonian tax solutions, and appointing an Ombudsman for Small and Medium-sized Enterprises, allowing domestic companies to have greater success on a global scale than ever before.
We have so many capable people across Poland that just need their chance to shine – they should be given incentives and support to stay within our country’s boundaries which can thus further stimulate national wealth
It is a critical time for the Polish economy. if Poland wants to keep up in today’s global economic competition, action must be taken. The state administration needs much-needed de-bureaucratization and social capital investments so that Poles understand international markets.
Then they can take responsibility for themselves by supporting their own companies instead of other countries. This could make or break our chances at competing with foreign industries on an equal playing field! We need everyone to do their part to secure prosperity for ourselves and the generations ahead.
Conclusion
Motivated by the potential to make more money, many Poles are choosing to take their talents abroad. For some of them, even a short-term migration can reap positive economic rewards as prices and cost of living increase at home. Opportunities abound for young people in search of work who don’t require any special qualifications or higher education. It’s no surprise that so many have decided to leave Poland behind in pursuit of these promising possibilities.
Bibliography
- https://www.gfk.com/press/average-purchasing-power-of-europeans-in-2022-is-16344
- https://forsal.pl/gospodarka/aktualnosci/artykuly/8156177,wskaznik-bogactwa-narodow-polska-na-tle-europy-ranking.html
- https://www.pomysloprzyszlosci.org/warto-wiedziec/polecane-artykuly/dlaczego-w-europie-jedne-kraje-sa-biedne-a-inne-bogate/
- https://wyborcza.biz/biznes/7,182270,29113250,europejski-ranking-zamoznosci-polska-bardzo-daleko-wielkie.html
