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Spain News Today

Spanish news in English

Saturday, November 23, 2024

Spain's Income Inequality Widens

Published: 2024-10-29

Recent data from Spain's National Statistics Institute reveals a growing income disparity across the country.

While household incomes have generally increased from 2019 to 2022, inflation has outpaced these gains in many areas.

Pozuelo de Alarcón in Madrid remains the wealthiest municipality, with an average income of 85,323 euros, starkly contrasting with Huesa in Jaén, which has the lowest at 13,658 euros.

The wealth gap has widened, with the difference between the highest and lowest incomes increasing by nearly 1,000 euros in 2022. Regions like the Basque Country and Madrid show higher average incomes, while areas in southern Spain, such as Andalusia, report significantly lower figures.

Despite Madrid's high average income, it also ranks high in inequality, with a Gini index of 35.3, indicating uneven wealth distribution.