Despite high levels of state debt and the weakening of its traditional industries, Belgium remains one of the richest countries in Europe. GDP per head, at $16,351, is lower than Germany, but higher than the UK or Italy. The figure, however, masks considerable regional differences. Flanders, where most high-tech businesses are located, has an unemployment rate of 6%. In Wallonia it is 11%; 25% of under 25-year-olds in Wallonia are unemployed. The presence of highly paid EU and international bank employees has made Brussels a distinctly wealthy city. In contrast to the state, Belgians are great personal savers. In 1993, they saved, on average, 20% of their income.
