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I don't understand why Portugal is so "poor" for an western European countries. Well, they are not poor but they have a low income for EU averages, very low for western Europe.
Portugal once was the 3rd or 4th biggest empire of the world and brought to Portugal lots and lots of gold and diamonds. How can they have nowadays a wage equaling to Poland and even lower than the Greek or Czech one?
I don't understand why Portugal is so "poor" for an western European countries. Well, they are not poor but they have a low income for EU averages, very low for western Europe.
Portugal once was the 3rd or 4th biggest empire of the world and brought to Portugal lots and lots of gold and diamonds. How can they have nowadays a wage equaling to Poland and even lower than the Greek or Czech one?
why is it hard to understand? What does Portugal produce nowadays that is competitive in the world market? Are the Portuguese particularly hard working and have high labour productivity? If now, why can't it be poor? A European country can be poor if it is not competitive any more.
Geographic location: nowhere, middle of north Atlantic.
Industries: none.
Population: 300K+, 92% Icelandics
NATO member
Economy: $USD 53,000 (Rich) per capita
Now, compare that to Ukraine, the home of Antonov aerospace industry and many others from ex-USSR, has a per capita GDP of only $USD 2,000.
I usually don't care about GDP per capital when the country's population is lower than a few million - those countries are essentially the size of a mid size city and the number can be easily skewed. One new factory may increase its GDP substantially and one company's performance may impact its GDP and finances significantly.
When it reach 7 or 8 million, I start to take it more seriously. Iceland has 300,000 people, barely a town.
........Or maybe they do not pay any takes or very little at all and that's make some countries attractive.
You are right. Apple has been paying only 1% tax in Ireland. But EU has ordered them to pay € 13 bn in taxes back to Ireland. Ireland was apparently angry with this ruling because they say the multinational companies in their country provide lots of jobs.
You are right. Apple has been paying only 1% tax in Ireland. But EU has ordered them to pay € 13 bn in taxes back to Ireland. Ireland was apparently angry with this ruling because they say the multinational companies in their country provide lots of jobs.
There many factors who will influence the wealth of a nation, but at the end what matters the most is the quality of the population. People will claim it's racist but that's just true.
Look at Estonia, ex soviet union republic, destroy by wars and communism, they have a big russian diaspora who might create some instability, no natural ressources, climat don't allow to grow fruit or vegetable... and yet they acheive to take the best of the situation, create trade with theirs neighbor (especially Finland and Sweden). They aren't "rich" yet but somehow they aren't in a so bad situation.
Look at Algeria, full of natural ressource (oil and gaz), coastline on mediteranea sea who help for tourism, a good climat and so on.
And what they did? Nothing. They just blame French for there own failures and send the youngs jobless in France and in the rest of Europe.
I don't understand why Portugal is so "poor" for an western European countries. Well, they are not poor but they have a low income for EU averages, very low for western Europe.
Portugal once was the 3rd or 4th biggest empire of the world and brought to Portugal lots and lots of gold and diamonds. How can they have nowadays a wage equaling to Poland and even lower than the Greek or Czech one?
In part due to inefficient gov't too much red tape and you have a political class that is a bloated parasite that only approves projects and bids if they benefit personally.(The lack of transparency is tolerated by the population). If you speak up and then need something to be approved down the line you will have problems.
I usually don't care about GDP per capital when the country's population is lower than a few million - those countries are essentially the size of a mid size city and the number can be easily skewed. One new factory may increase its GDP substantially and one company's performance may impact its GDP and finances significantly.
When it reach 7 or 8 million, I start to take it more seriously. Iceland has 300,000 people, barely a town.
Yes Ukraine is a poor country but Western Ukraine is really holding back the average, though eastern and central Ukraine isn't much better.
*this is from 2013 the year before the Maidan Revolution so some things obviously changed
Though what I do find surprising is why is it so much poorer than Russia, even Russian oblasts that have no oil are much richer, for instance Belgorod Oblast right on the Ukrainian border has a GDP per capita of $19,569 which is more than just the city of Kiev!! and this was back in 2009! Though it is a bit unfair since the Ukrainian ones are measured GDP (Nominal) and the Russian ones are measured GDP (PPP) so in reality Belgorod Oblast has probably around $13,000 GDP (Nominal) per capita which is still just as much as the city of Kiev!!
Last edited by grega94; 09-30-2017 at 10:56 AM..
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