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Monday, March 4, 2024

How much do Poles earn?

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Michał Kasjanowicz
Michał Kasjanowicz
News about Politics & Tech
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Although Poles have grown richer by far faster than Germans in the last two decades, a gap still separates us. The difference in the value of the average wealth of a resident of the two countries is more than $200,000.

According to the Global Wealth Report 2023, the value of the average Pole’s wealth in 2022 will be $52,741. Such a result means a more than fivefold increase compared to 2000. Although Poles have grown rich faster than Germans, we still remain decidedly poorer than our neighbors from across the Oder, whose average wealth at the end of 2022 was about $256 thousand. The value of wealth is calculated as the sum of owned financial and non-financial assets minus the value of debts.

The average wealth of a Pole at the end of 2022 was worth $52 thousand 741. This is more than five times more than in 2000, when the amount was only $10 thousand 334. – according to data compiled by the authors of the “Global Wealth Report 2023” created by UBS and Credit Suisse banks. The report is one of the world’s largest analyses of wealth levels – as it covers about 5.4 billion people on Earth.

Poles’ wealth. Here’s a picture of it
In 2000, the average Pole’s wealth consisted of financial assets worth $2989 and non-financial assets worth $7871. Debts reached an average of $527. At the end of last year, it was $20,968 and $38,248 on the asset side and $6475 on the debt side, respectively.

The amount of average wealth is the average result. The median, which is the value below and above which there are exactly the same number of readings, is considered a more reliable measure. If we look at this indicator, the amounts are already half as high. In 2000 it was 5133 dollars, and at the end of 2022. 20 thousand 263 dollars. Moreover, the latest wave of the survey shows that the wealth of one in four Poles does not exceed the equivalent of $10 thousand.

The more than fivefold increase in the value of the average property in Poland is a far higher result than that achieved in Europe or Germany.

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