The Average Purchasing Power of Europeans in 2022 Is €16,344
The average per capita purchasing power in Europe in 2022 is €16,344. However, there are tremendous differences among the 42 countries.
Information technology did not just create the opportunity to access information at gigabit speeds, it also put India on the global tech map, fueling the country’s economy and higher education sector. Engineering and Computer Science degrees are still sought-after because this sector contributes nearly eight percent of the GDP, an increase from a mere 1.2 percent from 1998.
This technology brought massive employment generation to the southern cities of Bangalore (now known as the Silicon Valley and IT capital of India) and Hyderabad (also Cyberabad now). Other major hubs like Pune, Chennai and Mumbai are not too far behind.
According to IBEF, the IT services sector has the highest value accounting for about 86 billion U.S. dollars. Of the 170 billion dollars coming in for this industry, 60 percent is made from exports to the United States.
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