Germans who go on holiday to Great Britain are quick to complain that everything is so expensive here. But German holidaymakers get off better than the British themselves.
Holidays in London are possible, but without expensive Ferris wheel rides Photo: Jakub Porzycki/imago
The German family at the next table was a little disappointed as they sat in the kitchen of a Welsh hostel. “We’re not poor, but Great Britain is as expensive as Scandinavia!”
The worst, of course, is in London, where a pint of beer (0.568 liters) costs a cool 9 euros. In a normal pub, mind you, not in the Ritz.
However, this perceived truth is a little misleading. Britain is not that expensive. It just depends on what you buy, like a comprehensive Price comparison For example, onions are very cheap and cost 21.6 percent less than in Germany. Rice, chicken and lettuce are also inexpensive.
Normal restaurants, on the other hand, are more expensive: plus 18.1 percent compared to Germany. Conversely, McDonald’s is cheaper: minus 17.3 percent. It’s similar with drinks: beer costs 32.8 percent more, but Coke and Pepsi are 25.4 percent less.
Poor Brits
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In short: For Germans, a holiday in Great Britain is possible. It is more difficult for the British themselves. They have to pay similar prices to those in Germany – but earn less on average. Per capita income is almost 12 percent lower when purchasing power is taken into account.
The British themselves also feel that they are becoming poorer and have coined a term for it: “The cost of living crisis”. Over the past four years, one economic shock has followed another: first came Brexit, then the coronavirus pandemic was mismanaged so badly that the economy collapsed by 10 percent. Business had barely recovered somewhat when the war in Ukraine led to inflation of 9 percent, which is why the Bank of England drastically increased interest rates, which is now putting a strain on the economy.
It would be easy to describe Great Britain as an economic disaster. But Germans in particular should be careful not to look at their neighbors complacently. Despite all the shocks, the British economy has grown more strongly than the German one in the past four years. From 2020 to 2023, the increase there was 1.7 percent – in Germany it was only 0.7 percent.
The Germans may be richer than the British, but they are at least as stubborn. Many do not even realize that a crisis is looming. 53 percent of Germans still think it is a good idea to stick to the debt brake – and to forego investments, even though roads and railways are rotting and climate protection is so important.
Brexit is the British debt brake
Every country has its own ideological quirks. Great Britain does not have an explicit debt brake, but Brexit cannot be touched. The new Labour Prime Minister Keir Starmer assures us almost daily that he does not want to return to the EU. Instead, he is focusing on trade with distant countries.
One success is already in sight: Great Britain will soon join the CPTPP trade agreement between Australia, Brunei, Chile, Japan, Canada, Malaysia, Mexico, New Zealand, Peru, Singapore and Japan. This list of countries is impressive, but does not bring much: the British Court of Auditors has already calculated that British economic output will increase by a mere 0.04 percent.
For the time being, the British will continue to earn less than the Germans – but pay roughly the same prices. The “cost of living crisis” continues.
