So all countries in the top 20 have good positive purchasing power, with Portugal being half of Canada’s. That’s nuts.
I’m curious about why they used “average income” instead of median income, which I’m guessing would be more accurate.
MrKguy on
While it’s a stat that I hope improves for us, I think this list indicates why purchasing power is not the only metric worth comparing countries with.
jello_sweaters on
Luxembourg is a terrific example of why average income is a bad metric to use; a handful of extremely wealthy people will skew the metric altogether.
For example, Luxembourg, Switzerland and the USA all have average incomes that are nearly double their median income. Canada is top-5 in the world by median income, but considerably lower by average.
The United States has >900 billionaires, or about 1 per 385,000 people, and Switzerland has 42, or about 1 per 215,000 people, while Canada has 76, or 1 per 525,000. This skews the crap out of average income.
3 Kommentare
So all countries in the top 20 have good positive purchasing power, with Portugal being half of Canada’s. That’s nuts.
I’m curious about why they used “average income” instead of median income, which I’m guessing would be more accurate.
While it’s a stat that I hope improves for us, I think this list indicates why purchasing power is not the only metric worth comparing countries with.
Luxembourg is a terrific example of why average income is a bad metric to use; a handful of extremely wealthy people will skew the metric altogether.
For example, Luxembourg, Switzerland and the USA all have average incomes that are nearly double their median income. Canada is top-5 in the world by median income, but considerably lower by average.
The United States has >900 billionaires, or about 1 per 385,000 people, and Switzerland has 42, or about 1 per 215,000 people, while Canada has 76, or 1 per 525,000. This skews the crap out of average income.
– 1. Luxembourg – 177.1
– 2. Switzerland – 159.7
– 3. United States – 146.2
– 4. Australia – 135.4
– 5. Denmark – 133.6
– 6. New Zealand – 130.5
– 7. Sweden – 130.3
– 8. Netherlands – 129.9
– 9. Germany – 127.1
– 10. Finland – 124.5
– 11. Iceland – 123.5
– 12. United Kingdom – 119.9
– 13. Japan – 119.8
– 14. Norway – 119.5
– 15. Belgium – 116.1
– 16. France – 110
– **17. Canada – 109.1**
– 18. Ireland – 108.9
– 19. Austria – 107.1
– 20. South Korea – 105
– 21. Spain – 98.1
– 22. Singapore – 93.8
– 23. Poland – 91.4
– 24. Italy – 85.1
– 25. Estonia – 84.2
– 26. Lithuania – 79.8
– 27. Latvia – 75.8
– 28. Malta – 75.3
– 29. Greece – 59.9
– 30. Portugal – 59.7