People always throw around numbers and terms claiming those are the truth, but I'd appreciate it if ppl would take the time to explain every step for better understanding.
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It's in danish. BNP stands for GDP.
GDP givers an overall on a country's collective productivity as shown in squares. btw Denmark is on a 35th place while Turkey is doing much better (16th spot).
But the problem with GDP is you need to adjust it to the cost of living (PPP), which again adjusts the graph, and Turkey gets a 13th place. (billion danish crown / USD exc. rate 6,8, which gives 2.296 billion USD)
But none of the above says anything about how much money each person has in their pockets. As total population has an impact on the numbers above. So you need to adjust for the average income per person, 2.296/84 = 27,3k roughly the same number as Zafer gave. (btw it's 55k in Denmark).
However even though this method is being used extensively globally it's not the perfect tool for measuring wealth. Because it doesn't take into consideration Welfare. Work-Life-Balance, economic inequality, life expectency and such, but these are not measurable categories.
For instance I work 37 hours a work, no more, no less, roughly 160 hours a month which would leave me with 55k/160 = 3437 USD in my pocket.
I have free doctor, education, hospital and other things I don't need at the moment through the welfare. So I have to pay mortgage, gas, water, electricity, subscriptions. that would leave me roughly 2000 usd for food expenses and other stuff.
A bank employee in Turkey works 10-12 hours a day (+2 hours overtime gives 12 hours and they have to work overtime often). And for less salary, but renting in Turkey is expensive.
So when ppl throw around GDP and PPP I start wondering do they ever do the math, and what are the criterias ?
Do the math, and stop pulling up non existing excuses like "hidden masters".