- The price of books in the European Union is growing at a slower rate than general consumer goods.
- Total consumer prices rose by 14% but books only saw a 12% rise (June 2011 - June 2021).
- E-books have seen the biggest cost increase while educational textbooks are down in price.
- Sales of printed books are falling but they are still the most popular way to read, studies suggest.
It’s always difficult to put a price on knowledge or calculate the value of artfully written prose; but if you’re reading a book in Europe at the moment it represents pretty good value for money.
The EU’s statistical office, Eurostat, has been comparing the price trends of books against those of general consumer prices.
According to Eurostat’s Harmonised Index of Consumer Prices (HICP), the overall price of books grew less than total consumer prices between June 2011 and June 2021.
What is the World Economic Forum's Book Club?
The World Economic Forum launched its official Book Club on Facebook in April 2018. Readers worldwide are invited to join and discuss a variety of books, both fiction and non-fiction. It is a private Facebook group dedicated to discussing one book every month.
Each month, we announce a new book on our social media channels. We then publish an extract and begin a chapter-by-chapter discussion with group members. Selected comments and questions are sent to the author, who in return sends us a video response.
Unlike other book clubs, the group features the direct involvement of the authors, giving you - our global audience with members all around the globe - a chance to directly connect with some of the most influential thinkers and experts in the world.
We have featured authors such as Steven Pinker, Elif Shafak, Yuval Noah Harari, and Melinda Gates.
You can join the Book Club here.
Follow us on Twitter here.
Follow us on Instagram here.
Tracking the trends in book prices
While the price of books grew 12% in the decade to 2021, total consumer prices climbed 14%.
Printed books remain the most popular way of reading but e-books are growing in price as well as popularity.
Eurostat’s data on the pricing of different book genres tracks price rises between December 2016 and June 2021. It shows the cost of e-books rose by 12% in that period. The price of works of fiction rose 6% but the cost of educational textbooks fell by 2% during the same timeframe.
The international book trade
The value of exports of printed books from the European Union in 2020 stood at €1.7 billion ($2.0 billion). In the same year the bloc imported books with a value of €1.5 billion ($1.8 billion). These figures have remained largely consistent between 2010 and 2020. Compared with 2019, there was a decrease in 2020 of 12% for exports and 6% for imports.
Germany, France and Spain were the leading European importers and exporters of books in 2020.
With more of us reading on our smartphones, tablets and e-readers, it’s no surprise that sales of e-books are growing.
During the first pandemic lockdown in the UK, 18% of people said they were reading more e-books, research group Nielson found. Nine percent also said they were listening to more audiobooks.
Have you read?
Beyond the EU, sales of paper books remain strong. A separate study by Statista shows that while 23% of people bought an e-book last year, 45% bought a printed book.
A community of readers
If you’re stuck for ideas on what to read next you can join the World Economic Forum’s Book Club. Each month a new title is uploaded and members discuss the book, with direct input into the conversation from the author.