Bulgaria remains the most affordable country in the European Union, according to fresh Eurostat data for 2024, which analyzed consumer prices across 36 European nations. The country registered price levels 40% below the EU average, securing its place as the cheapest EU member state for consumer goods and services.
At the opposite end of the spectrum, Denmark ranked as the most expensive country in the EU, with prices 43% above the average. This significant disparity highlights the ongoing cost-of-living divide across Europe.
One of the most striking price gaps was observed in alcohol and tobacco, where Ireland led with prices at 205% of the EU average. In contrast, Bulgaria reported the lowest prices for these products at just 69% of the EU average—three times lower than Ireland.
The restaurants and hotels category showed similar variation. Again, Denmark topped the chart with prices at 148% of the EU average, while Bulgaria offered the most affordable options at 53%, reinforcing its position as the EU’s budget destination for travel and hospitality.
Across the broader 36-country group—which includes the 27 EU members, 3 EFTA countries, and 6 EU candidate nations—North Macedonia consistently recorded the lowest prices overall. However, Bulgaria maintained its lead within the EU in categories like alcohol and tobacco, clothing, footwear, and transport services.
In specific segments:
Food and non-alcoholic beverages were most expensive in Luxembourg and cheapest in Romania among EU countries.
Clothing and footwear were priciest in Denmark, while Bulgaria offered the lowest prices in the EU.
Furniture and appliances were most expensive in Malta, with Bulgaria and Lithuania reporting the lowest prices, respectively.
Transport services were most costly in Iceland and least expensive in North Macedonia, but Bulgaria again ranked lowest in the EU.
The report also notes that price dispersion is most pronounced in alcohol and tobacco, due to wide variations in taxation policies across countries. In contrast, categories like personal transport equipment showed more uniformity, with Slovakia offering the lowest prices in the EU and Türkiye the highest among the wider group.
These insights come from extensive Eurostat-OECD surveys on purchasing power parity (PPP), which covered more than 2,000 goods and services in the first half of 2024. For budget-conscious consumers or investors watching regional price dynamics, Bulgaria’s consistent affordability stands out as a key economic signal.
