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May 26, 2017

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Taipei City tops the country in average household income

TAIPEI, Taiwan -- The average annual disposable household income in Taipei City stood at NT$1,287,800 in 2007, topping all cities and counties in the country, the Taipei City Department of Budget, Accounting & Statistics reported yesterday.

By comparison, the average disposable household income of the southern port city of Kaohsiung — another metropolis aside Taipei — totaled NT$980,400 in 2007 and the average disposable household income in the rest of Taiwan stood at NT$923,900 last year, a department official said.

The 2007 Taipei City average disposable household income was an increase of 2 percent over that posted in 2006, the official said.

The disposable income is an income after taxes, bank interests and spendings on donations are deducted.

Taipei families put aside an average of NT$324,100 each year as savings, or roughly 25 percent of their disposable household income, according to tallies compiled by the department.

For the top 20 percent richest families in Taipei, 38.5 percent of their disposable incomes went into savings, while 61.5 percent was spent for daily consumption.

In comparison, families in the poorest 20 percent bracket in Taipei City spent 96.02 percent of their income on daily expenses, with only 3.98 percent of their earnings saved.

Of their disposable income, 26.36 percent was spent for rent and the water bill, representing the largest part of spending by Taipei households; followed by food and beverage, which took up 21.05 percent of their income; education and entertainment, which consumed 13.5 percent of income; medical care and doctors' bills, 11.42 percent; and transportation and telecommunications costs, 10.24 percent, according to the official.

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