In terms of per capita economic performance, Prague was the third-wealthiest region in the European Union in 2019. According to a report issued by Eurostat on Wednesday, the Czech capital performed better than Bratislava, Vienna and Stockholm.
Eurostat compared 281 regions of the European Union according to GDP against the EU average. The statistics are based on a recalculation of GDP according to purchasing power parity, thus taking into account the local prices of goods and services.
The map shows the distribution of wealth in the European Union and also includes some of the most relevant changes in recent years.
The leading regions in the ranking of regional GDP per capita in 2019, after Luxembourg (260% of the EU average), were Southern (240%) in Ireland, Prague (205%), Brussels in Belgium and Eastern & Midland in Ireland (both 202%) as well as Hamburg (195%) in Germany.
What explains Luxembourg’s high rating? According to Eurostat, the ‘high inflow of commuting workers’, alongside the assets of multinational companies domiciled in the Grand Duchy, are responsible.
Luxembourg also ranks third for productivity, with a GDP per person employed of €136,600, behind only the Southern and Eastern-Midland regions of Ireland.
The high GDP per capita in these regions can be partly explained by a high inflow of commuting workers (Luxembourg, Prague, Brussels and Hamburg) or by the large capital assets owned by some multinationals domiciled in the regions (Southern and Eastern & Midland in Ireland).