In 2024, the gross domestic product (GDP) per inhabitant of the Netherlands was over 62 thousand euros. That is 13.6 percent more than ten years ago, adjusted for price changes. GDP per inhabitant is a measure of a countrys material wealth. However, this measure says nothing about the distribution of wealth in a country and other aspects of life and society that play a role in experienced wealth.
In the EU, the economy grew by 17.7 percent compared to 2014. This is less than in the Netherlands, but the total population of the current EU countries grew by 1.6 percent, also less rapidly. As a result, GDP per EU inhabitant was 15.8 percent higher than in 2014. Especially in several Northern and Western European countries, the difference between economic growth and population growth was smaller than in the Netherlands, such as in Austria, Germany, France, Belgium, and Sweden.
In some countries, the economy grew very strongly, while the population grew much less rapidly. This is especially the case in Ireland, Cyprus, and Malta. This is largely due to foreign multinationals, which caused significant economic growth. Also in Central and Eastern European countries such as Poland, Romania, and Croatia, GDP per inhabitant grew very strongly. Here, significant economic growth coincided with population decline.
In 2024, actual individual consumption per inhabitant was 10.2 percent higher than in 2014, adjusted for price changes. This is a smaller growth than that of GDP per inhabitant (13.6 percent). This also applies to the EU. There, actual individual consumption per inhabitant was 13.3 percent higher, and GDP per inhabitant was 15.8 percent.
Actual individual consumption per inhabitant is a more suitable indicator of the material wealth of households than GDP per inhabitant. This is the consumption of households supplemented by government expenditures that are provided as social transfers in kind to households. This includes, for example, government spending on healthcare and education. With this indicator, a better international comparison can be made than based solely on household consumption, as it takes into account differences in the financing of certain provisions such as the healthcare system of countries.