Another edition of the Euro Cup began where 24 countries compete to dethrone the current champion Italy in the football field, but Who could triumph if the contest were in the markets? The broker’s analysts global XTB tried to answer this question by comparing some of the most relevant economic data of each of the countries (taking England and Scotland As the United Kingdom).
Among the variables to compare, they took GDP growth in the last four years, as well as GDP per capita (adjusted for purchasing power); the unemployment rate; the hourly wage; and debt over GDP.
To define the potential European economic champion, they resorted to the same scoring system currently used in competitions such as Formula 1 or motorcycling, where the winner gets 25, the second 18 points, while the third 15 points. From fourth to tenth the following points will be distributed: 12, 10, 8, 7, 4, 2 and 1.
They came to the conclusion that with these parameters, there is an undisputed winner: Swiss. The Swiss country obtains the highest score in all categories except GDP growth and would close this hypothetical tournament with 101 points. Secondly, it would be Denmarkwhich scores 18 points in categories such as GDP per capita, hourly wage or debt over GDP and a non-trivial seven points in the GDP growth metric, for a total of 68 points.
Third place would be for Netherlands with 45 points, followed by Türkiye with 40 and Poland, with 33; The latter two are greatly benefited by the growth of GDP and debt over GDP, in the case of the Ottoman country, while Poland It has the second best unemployment rate among participating countries.
To find the first economy in the eurozone you have to go to seventh place, where Germany It ranks with 28 points thanks to its unemployment data and hourly wages, as well as the purchasing power of its population.
The rest of the large European economies would obtain much worse results: France It would remain in fourteenth place, with just 14 points, while Italy would be in twentieth position, with just 4 points. The worst data of the large economies is obtained Spainwhich does not add any points according to these metrics, like two other countries: Portugal and Ukraine.
“Although it is pure fiction, these data show the drive that the countries of Eastern Europe have had, which have achieved higher growth than the rest of the continent in the last four years, and that nations like Poland, Croatia or Serbiato name a few, are enjoying a strong increase in their production thanks to foreign investment, tourism and, in some cases, European Union recovery funds,” explain the broker’s analysts.
“Also due to the progress of the industry in southern European countries, given that labor costs are lower and the capacity to grow is greater,” they add.
On the contrary, the economically largest countries are those that have had a lower growth rate, with the German case being especially striking, falling behind the rest of its peers but affected by its dependence on gas and oil from Russiaafter the outbreak of the war at the beginning of 2022.
Regarding the GDP per capita adjusted by purchasing power, that is, the cost of living of each country, in this case central Europe dominates the classification, and Among them, Switzerland stands out with a very marked difference compared to the rest.
Source: Ambito
