The total income of millionaires in Hamburg rose to EUR 3.86 billion, an increase of 5 per cent over 2019. Thus, millionaires earned an average of EUR 2.96 million in 2020. This compares to an average income of EUR 48,000 in 2020 in Hamburg. Although millionaires account for just 0.1 per cent of all taxpayers, they paid 8 per cent of total income and 14 per cent of income tax. Their income stems mostly from commercial enterprises, according to Statistics North. The data is based on annual income tax statistics from 2020, which is due to long processing times for income tax and pandemic-related delays.
fw/sb/pb
More than 1,300 millionaires in Hamburg - eighth consecutive increase, says Statistics North
Hamburg remains the city with the most millionaires in Germany: A total of 1,304 residents earned at least EUR 1 million in 2020 or a rise of 3 per cent over 2019, the Statistics Office North announced Wednesday (August 7, 2024).
Income from commercial enterprises
Sources and further information
More
Similar articles
Record number of start-ups in Hamburg
Hamburg remains top economic location for companies
Residents of Hamburg happiest big city dwellers in Germany
