The average purchasing power across the 42 countries covered by the study is EUR 12,802 per inhabitant and Croatia, with EUR 5,085 per inhabitant, has 39.7% of the European average.
"Traditionally, Liechtenstein has led the way by a substantial margin," the agency reported. With around EUR 56,878 per capita, Lichtenstein tops the list, while Moldova is on the bottom with EUR 1,257 per inhabitant available to cover total spending and savings in 2012.
"Purchasing power is a measure of per capita disposable income (including any received state benefits) after the deduction of taxes. The study indicates annual per capita purchasing power levels in euros and as an index value. GfK purchasing power values correspond to the nominally available income - i.e., the values are not adjusted for inflation and do not reflect regional price variations. The basis of calculation is data on income tax as well as statistics on government benefits and forecasts by economic institutes," the German GfK Geo Marketing pollster said in a recent press release.
"The total purchasing power values reflect the disposable income from which inhabitants can draw for consumer purchases and monthly fixed costs such as rent, utilities, mortgage payments, contributions to private retirement funds and insurance policies as well as miscellaneous expenditures such as those related to vacations or transportation."
According to the GfK Purchasing Power Europe 2012/2013 study, "European consumers have approximately a total of EUR 8.6 trillion at their disposal to cover their total spending and savings in 2012. This corresponds to an average purchasing power of EUR 12,802 per inhabitant across the 42 countries the study covers. Per capita growth amounts to 2.1 percent," reads the press release.
Apart from Liechtenstein, the next two are Norway, (EUR 32,037) and Switzerland (EUR 31,666), which means that the top three European countries measured by their purchasing power are not from the European Union.
Luxembourg (EUR 28,943), which ranks fourth, is the best positioned out of all EU member-states.
"At the other end of the scale are the inhabitants of Kosovo, Belarus and Moldova. The population of these countries has less than EUR 2,000 per capita, only a fraction of the purchasing power in the top 10 countries. For example, Moldovans have an average disposable income of EUR 1,257 per capita. This needs to cover all spending on food, accommodation and services as well as any other spending. It is not even a tenth of the European average – represented by Spain (in 17th place) with around EUR 12,943 per capita," reads the press release.
Turkey fares better than Croatia on this list, as it occupies the 29th place with EUR 5,422 per capita of purchasing power, or 42.3% of the European average.
A position below Croatia is Hungary with EUR 4,884 per inhabitant or 38.1% of the European average.
In Croatia, there are regional differences when it comes to purchasing power. The capital of Zagreb, with EUR 6,540 per capita, is more affluent than other Croatian regions. Istria follows with EUR 6,509, and the region of Rijeka with EUR 5,899. Vukovar County is on the bottom with only EUR 3,537 per inhabitant.