The proportion of shareholders in West Germany is 60% higher than in East Germany, or 18.9% 11.8% of the respective populations. Income differences may play a certain role here, but there appear to be many additional factors.
Looking at the federal states individually, the proportion of those who own shares is highest in Baden-Württemberg, where the shareholder ratio is 23.2%. However in terms of average gross monthly earnings Baden-Württemberg is only in fourth place, behind Hamburg, Hesse and Bavaria.
The gap is particularly wide in Berlin. Saxony-Anhalt and Brandenburg are the only places with a lower percentage of shareholders. In terms of average gross monthly earnings, however, the citizens of the capital rank fifth place nationwide. Meanwhile, the lowest rate is in Brandenburg, a federal state whose citizens tend to be among the higher income earners in the east.
It is clear that if you have no spare money you cannot invest in the stock market. There is therefore a certain link that cannot be dismissed out of hand, but its significance is limited.
Overall, Germans are increasingly interested in shares. The pandemic is still present in the minds of investors: 3 vaccine manufacturers are among the 10 most searched shares of the month. Yet regardless of the trend, the majority of Germans are still conservative when it comes to investing. 47% save using their current account, while 43% have deposits in their savings account.