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Moscow holds undisputed economic leadership in Russia, accounting for 26% of national GDP in 2016. However, in being Europe's most populous city, Moscow disappoints with its inferior labour productivity as well as lagging disposable incomes and household spending. Other spheres such as local quality of life - notoriously high income inequality, poor housing affordability, congestion and low attractiveness to foreign tourists - leave much to be desired.
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While Moscow is the most productive metropolis in Russia, with a GVA per employee of USD26,000 in 2016— 89% greater than in the rest of the country though the city falls far behind in a European context. Lack of qualified employees, traffic congestion and a poor regulatory framework work to the detriment of the Russian capital.
As a result of its deficient labour productivity, Moscow's disposable incomes trail those in all major Western European cities and even some Eastern European ones. In 2016, the average Moscow household had a annual disposable income of just USD20,100, nonetheless still 83% higher than elsewhere in Russia.
Consumer expenditure per household (excluding housing and transport) in Moscow is double that in the rest of the country as of 2016. Thanks to higher incomes, spending on necessity items such as food and non-alcoholic beverages comprises a lower share in Moscow than in other regions in Russia, which leaves a larger budget to be spent on discretionary items.
Moscow is an expensive city to live in. Per household expenditure on transport and housing in Moscow is likewise double the average of the rest of the country as of 2016. Increasingly, the differential is determined by soaring property prices in Moscow, driving up average housing expenses in the city.
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