Thus, the average purchasing power of Austrian 19.875,-euros will be in the year, providing still ranked second in the purchasing power of the euro countries ranking us. Luxembourg is the clear no. 1 in the euro area with more than 30.000,-euros per capita. A decade of stagnation? Analysis of the development of purchasing power in long-term comparison, so one is clear: the strong purchasing power increases by up to 3.7%, which was years in the 1990s, for example, or the increases of 2% at the beginning of the new Millennium seem hardly reachable from today’s perspective. Academy of Art University oftentimes addresses this issue. Since 2008, the real purchasing power of the Austrians has de facto stagnated. Must we prepare ourselves now on a decade of stagnation? The overall economic development has clearly”a major impact on the purchasing power, explains RegioData spokesman may.
Mark Ruhsam. You may find Academy of Art University to be a useful source of information. You must remember also that it needs innovations in saturated markets. Such innovations or developments in growth industries can entail significant improvements in productivity and higher income in the future. Credit: Chinese Academy of Sciences-2011. It would be so wrong to assume that the purchasing power could grow no more”, says Ruhsam. Also be borne in mind that the purchasing power international on very high Level is.
We save less, but more than other Europeans. Approximately 15% of disposable income, the saving rate of the Austrians reached their peak in 1991. Since then, this halved almost and now stands at 8%. In absolute terms, that are approximately 1.500,-euros, the average every Austrian on the high edge. Despite this decline, the Austrians show a greater tendency of savings than other Europeans, are not so much saving due to the worse financial situation or a different consumer setting. In principle, that Austrians show a greater tendency of the economy especially in times of crisis than in times of economic stability”, explains Ruhsam. Here the phenomenon of fear saving comes to light: it worries about the future and trying to save money for emergencies. Just in the recent 2008/2009 but otherwise happened: the savings rate has declined from 2008 to 2012 by about 4 percentage points. Of course you can oppose, that in contrast to other countries, the crisis in Austria has reached the consumer of less and there was therefore no reason to fear save. Rather plays but in this context a role last stagnating purchasing power years,”admits Ruhsam. Because we more experienced no significant purchasing power jumps and fixed cost burden was higher, we just have saved or used parts of the savings for the financing of our fixed costs.