Nearly one million Poles considered ‘affluent’

The figure is approximately EUR 1,635.

Every year the number of wealthy Poles grows significantly, a report by KPMG on the luxury goods market in Poland indicates.

The figure has grown by seven percent since last year.

A “wealthy Pole”, as defined by the report, earns more than PLN 85,000 per year and the combined income of wealthy Poles will surpass PLN 154 billion this year. Yet, it is expected that the number will grow to PLN 200 billion by 2018.

Luxury goods

The Polish luxury market is also growing fast, capitalising on Poles’ higher income. Its value increased by 14.3 percent, and is estimated at PLN 14.3 billion.

This is also good news for Polish companies.

Almost 60 percent of Poland’s wealthiest citizens want to buy Polish premium and luxury products, pointing to their quality and low price, as the main reasons.

However, the report shows that Poland is still far behind most of western Europe. The number of high net-worth individuals in Poland is 43,000 as compared to 1.8 million in France, 2.4 million in Britain and 1.5 million in Germany.

Average wealth is also far smaller for an average Pole, than for an average European, with USD 19,500 per capita for the former and USD 133,400 for the latter. In spite of the difference, the report's conclusion is fairly optimistic: Poland’s luxury market and general wealth is quickly increasing. (tf/rg/rk)