Real income in the European Union increased by 22% between 2004 and 2024, according to new data by Eurostat.
The latest figures show how much income people in the EU had available to spend or save, after adjusting for inflation.
It shows that per capita, average household growth was steady from 2004 to 2008, before flattening between 2008 and 2011 in the aftermath of the global financial crisis.
From 2012 to 2013, average incomes fell, but returned to grow in the following years.
A decline was recorded again in 2020, linked to the global corona pandemic, while 2021 saw a recovery.
Growth continued at a slow pace in 2022 and 2023. Preliminary figures for 2024 indicate that household income growth is picking up again.
Large differences between EU member states
Romania recorded the most significant increase in average household income per person over the two-decade period, with a rise of 134%. Lithuania (95%), Poland (91%), and Malta (90%) also saw major increases.
Greece and Italy were the only EU countries where real income declined, falling by 5% and 4% respectively.
Spain (11%), Austria (14%), Belgium (15%), and Luxembourg (17%) recorded the smallest increases among EU nations.
