The term «European prices» can often be misleading because price differences in 27 countries of the European Union (EU) are often enormous. The closest thing to average prices in the Eurozone is the consumer basket value in Germany and Italy. Bulgaria, Hungary and Poland are the cheapest countries of the EU.

Denmark is the most expensive country of the EU. Price level there is higher than the average EU level by 42.2%, as the 2011 data from the Central Statistical Bureau of Germany and Eurostat shows.

This data covers 37 European countries where this research was conducted. As it turns out, Switzerland has the highest prices. People there pay by 61.8% more than in any other European country for the standard product and service package, including food, restaurants and hotels. On the other hand, compared with most of its neighbouring countries, fuel is much cheaper in Switzerland, Deutsche Welle writes.

It is also very expensive to live in Norway (+50.7%). Foreign tourists know this better than anyone else, when they travel to Norway and prefer not to skip on beer, wine, strong alcoholic beverages and tobacco products. Products of these categories cost almost 2.5 times more in Norway than in any other EU country.

Experts classify Bulgaria as the cheapest country of the EU. Costs for living and leisure there are almost 50% cheaper than in any other country of the EU (-49%). It is especially cheap to buy food there.

Poland, Hungary and Turkey are declared the most cost effective destinations in Europe. The price level in these countries is by 30-40% lower than the average level in Europe. The Hungarian market is especially prominent with low prices for hotels, restaurants and alcoholic beverages. The cheapest clothing can be found in shops in Turkey.

Meanwhile, in the crisis torn Greece the price level in 2011 was only by 5% lower than the average level in Europe, which negatively reflects on the country’s competitiveness – this includes tourism.

Ref: 104.109.109.2291