London: Europe’s richest region

With a regional GDP per capita of 328 per cent of the average, Inner London was the economically strongest region in Europe in 2010, according to data released today by Eurostat, the statistical office of the European Union.

Well done to London’s businesses for pushing the region to first place. However, London’s GDP per capita may be strongly influenced ? and thus overestimated ? by commuter flows.

But London is still far ahead of the second highest region, Luxembourg, which has a GDP per capita of 266 per cent of average to show for. Next in line are Brussels (223 per cent), Hamburg in Germany (203 per cent), and ?le de France (180 per cent).

The gap between top and bottom on this list is staggering. The lowest regions in the ranking were all in Bulgaria and Romania, with the lowest figures recorded in Severozapaden in Bulgaria: 26 per cent, compared to London’t 328 per cent. Severozapaden was followed by Severen tsentralen in Bulgaria and Nord-Est in Romania (both 29 per cent), and Yuzhen tsentralen in Bulgaria (30 per cemt). Among the 68 regions below the 75 per cent level, 15 were in Poland, seven each in the Czech Republic, Greece and Romania, six in Hungary, five each in Bulgaria and Italy, three each in France (all overseas departments), Portugal and Slovakia, two in the UK, one each in Spain and Slovenia, as well as in Estonia, Latvia and Lithuania.

Only 41 regions exceeded the 125 per cent level. Eight of them were in Germany, five each in the Netherlands and Austria, four in Belgium, three each in Spain, Italy and the United Kingdom, two each in Finland and Sweden, one each in the Czech Republic, Denmark, Ireland, France and Slovakia, as well as the Grand Duchy of Luxembourg.

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