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recent releases from Leicester Shire Development Agency, Business Link for Leicestershire and Business Link Lincolnshire & Rutland | 
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13 February 2002
NEWS RELEASE
SPENDING POWER IN LEICESTERSHIRE BEATS EU AVERAGE
A Leicestershire person has more buying power on average than a typical EU citizen, according to new statistics released by the Euro Info Centre at Business Link for Leicestershire.
The study shows residents in Leicestershire, Rutland and Northamptonshire have three per cent more spending clout than the EU average, two per cent more than the UK average and six per cent more than the East Midlands average.
Buying power in Leicestershire is ten per cent more than in Derbyshire and Nottinghamshire and 15 per cent more than in Lincolnshire.
The study by EU statistics group Eurostat found Leicestershire people had buying power corresponding to 103 per cent of average GDP per head.
Central London led all EU areas with a figure of 242 while north eastern Romania was on just 18.
The study highlights the huge differences that exist between the buying power of some European Union residents and those in the candidate countries hoping to join.
Even some EU residents were way behind the average. Both the Greek region of Ipiros abd the French Indian Ocean island of Reunion had only 51 percent of the average.
The poorest regions, those under 75 percent of the average, were found in Greece (13 regions), Portugal (six of the country's seven regions), Germany (eight eastern regions), Spain (seven), Italy (five), France (four overseas departments).
Britain had three of the poorest regions with Cornwall/Isles of Scilly on 65, and both Merseyside and West Wales on 71.
Of 211 EU regions, more than 20 earned above 125 percent of average GDP, while almost 50 fell below 75 percent.
Outside the 15-member union, the Czech capital Prague took highest honours at 124 percent.
The Leicester Euro Info Centre is part of a network of some 250 Euro Info Centres set up by the European Commission throughout Europe. Staffed by a team of informed and qualified professionals, it has direct access to the European Commission, to help SMEs in the region meet the challenges involved in successfully tapping the European market.
The figures were compiled using the PPS (purchasing power standard), which is an artificial currency that eliminates the effects of exchange rates on national currency levels. This unit makes it easier to compare data.
Eurostat is the statistical office of the European Communities in Luxemburg.
Ends
For further Media Information
CONTACT Duncan Hopwood on 0116 254 4472
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