Copenhagen, Denmark—being wealthy here is considerably less than in the U.S.
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Denmark is often cited as one of the happiest and safest countries in the world with one of the best qualities of life. So what’s considered wealthy in Denmark and what does the average person and household earn? What would your cost of living be if you were living in one of the world’s friendliest countries?
Is Denmark A Good Place To Live?
The OECD Better Life Index states that Denmark outperforms the average in jobs, education, health, environmental quality, social connections, civic engagement and life satisfaction.
For the latter, when asked to rate how happy they are out of ten, Danes consistently say a number higher than the OECD average of 6.7 and rate their score on average at a very satisfied 7.5.
Denmark is often rated highly amongst the best countries to live, with good access to quality schools and healthcare; the average Dane will see a medical practitioner 11 times a year.
The Economist Intelligence Unit (EIU) named Copenhagen in second place in its annual report of the most liveable city in the world for 2023, ranking it highly for its galleries, bikes, culture, history and healthcare.
In 2023, Denmark was ranked the second safest country in the world and the port area of Havnen came in fourth among the coolest neighborhoods in Time Out’s survey. It’s renowned for its friendly, playful vibe, wherever you choose to hang out on the water—try the boats, paddleboards, kayaks, pools and even the new winter public saunas.
How Many People Live In Denmark?
With a population of almost 6 million people, Denmark is around the 25th most populous country in Europe, smaller than Germany, the U.K., France, Italy and Spain. By comparison, the U.S. has over 320 million residents.
Denmarks’s capital, Copenhagen, has 1.3 million people, which actually makes it the largest Nordic city, bar Stockholm. It’s about the same size as San Diego.
In terms of size, Denmark is the smallest out of all the European Nordic countries with just over 16,500 square miles, making the U.S. 228 times larger. Whereas it takes over 6 hours to fly from New York to Los Angeles, it takes just one hour by plane to traverse Denmark from Copenhagen to Jutland. Most of Denmark could fit inside Colorado. That makes the country very compact and you can easily move around its capital without a car.
What’s An Average Salary In Denmark?
The average employee in Denmark earns an average of around $6,855 per month (DKK 46,972) and has a net worth of $102,373 (DKK 701,429).
The OECD cites Denmark as having an average household net-adjusted disposable income per capita of $33,774 per year—the OECD average is $30,490.
What’s The Cost Of Living in Denmark?
A family of four might spend roughly $4,302 on living expenses each month, not including rent—slightly higher than the average American.
The cost of living is 16% higher in Denmark than in France, and as a comparison the cost of living in the U.S. is 7% higher than in France (although this is obviously an average).
ForbesWhat It Means To Be Wealthy In FranceBy Alex Ledsom
What’s Considered Wealthy In Denmark?
In order to be considered in the top 10% of big earners and to be considered wealthy in Denmark you would need to earn $120,000 per year (DKK 812,300) and to be in the top 50%, you would need to earn $42,456 (DKK 290,900) or above, every year.
The country itself is the fourth wealthiest in the EU, with a GDP per capita of $52,000 (€48,000) and the CIA World Factbook lists its natural resources as petroleum, natural gas, fish, arable land, salt, limestone, chalk, stone, gravel and sand.
What Does The Top 1% Earn In Denmark?
As per The Copenhagen Post, the top percent of earners in the country earn DKK 1.9 million a year, which depending on the exchange rate is about $300,000 per year. This income from the top 1% equates to about 10% of all Denmark’s income.
By comparison, the top 1% of earners in the U.S. earn between $540,009 and $819,324, depending on whose statistics you use.
MORE FROM FORBESForbesWhat It Means To Be Wealthy In The U.S.By Alex LedsomForbesWhat It Means To Be Wealthy In The U.K.By Alex Ledsom
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Publish date : 2024-11-04 11:57:00
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