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Germans are poorer than Italians and French

Germans are poorer than Italians and the French, despite living in Europe’s biggest economy and bailing out struggling southern European countries.

Published: 10 October 2013 08:30 CEST
Germans are poorer than Italians and French
Photo: DPA

The average wealth of German households is lower than both French and Italian ones, a report released on Wednesday by bank Credit Suisse said.

Despite the recession, average wealth per adult in Italy rose 5.6 percent to €178,615 between mid-2012 and mid-2013, according to the Global Wealth Report 2013, placing the country 13th in the world.

Wealth per adult was €154,900 in mid-2013 for the Eurozone, but there were significant differences between countries.

Credit Suisse estimated that household wealth in Austria, Germany, Ireland and the Netherlands was similar to the Eurozone level, but wealth is about 20 percent higher in Italy and Belgium. It is about 50 percent higher in France and Luxembourg.

Switzerland, which in 2011 became the first country where average wealth exceeded €370,000, topped the list.

However, Germany ranked highly for its number of millionaires coming in fourth place behind the USA, France and the UK. The number of millionaires in Germany is expected to grow by 46 percent by 2018. Meanwhile, total wealth grew by 7.7 percent in Europe, the report found.

At the global level, wealth per household increased by 4.9 percent to €38,188 per adult between mid-2012 and mid-2013. It also forecasts average household wealth will climb 39 percent over the next five years, with most of the wealthiest households being in emerging markets.

”Our research shows that global wealth has doubled since 2000, quite compelling given some of the economic challenges of the last decade,” said Michael O’Sullivan of Credit Suisse Research Institute.

“We expect this trend to continue in the foreseeable future, driven largely by Emerging Markets’ strong economic growth and rising population levels.”

READ MORE: French claim low German wages are unfair on them

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MONEY

Going to a Danish music festival? Beware of fake online tickets

Scams involving event tickets are not uncommon during Denmark’s summer music festival season, the country’s digital authority has warned.

Published: 3 June 2024 09:14 CEST
Going to a Danish music festival? Beware of fake online tickets

Denmark’s Agency for Digital Government (Digitaliseringsstyrelsen) has urged anyone hoping to pick up a festival ticket at short notice to “be critical” when purchasing passes online.

In a press release, the agency outlined what it calls “simple advice” to help consumers avoid losing money on shady festival tickets.

The NorthSide festival in Aarhus kickstarts Denmark’s summer festival season on 6th-8th June, followed shortly afterwards by the Heartland festival at Egeskov on the island of Funen, both from June 13th to June 14th.

For lovers of hard rock and metal the Copenhell festival from June 19th to June 22nd is not to be missed.

Then, for the weekend of June 27th-29th, the festivities move back across the Great Belt Bridge for the Tinderbox Festival in Odense on Funen.

The month of music then culminates with Denmark’s oldest and largest music festival, Roskilde, between June 29th and July 6th, although arguably all the biggest days are in July. 

Several of these festivals have already sold out of either one-day tickets or “partout” tickets that provide passes to the entire event.

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That means tickets are now being sought on social media and other resale platforms, the digital agency writes.

“We’ve collected some good pieces of advice that will help members of the public to spot ticket sharks and prevent a good summer with friends and music from becoming a disappointing summer when scammers make off with your money and good mood,” Agency for Digital Government deputy director Lars Bønløkke Lé said in the statement.

“Scammers don’t go on holiday and festival ticket sales are also an opportunity they try to capitalise on,” he said.

Four specific actions can greatly reduce the risk of getting scammed according to the agency.

These are:

  • Purchase tickets from official vendors only. Use their waiting lists if the tickets are sold out.
  • Be cautious about any offers you receive if you request a particular ticket in a social media post or ad, as these can attract scams.
  • A ticket set at a price far cheaper than can be found anywhere else is a sign of a possible scam.
  • If using Danish payment app MobilePay, you can check that the seller’s name appears on the payee MobilePay account before confirming your payment. You can then check that this name matches the name of the person or organisation from which you have agreed to buy the ticket. A discrepancy should raise a red flag. Similarly, if the seller unexpectedly asks you to send the money to an account other than their own, they are likely to be attempting a scam.
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