Greeks work longer hours than other Europeans, contrary to the persistent myth of the “Lazy Greeks”, while also getting paid less, according to comparative data by Eurostat and OECD.
In the European Union in 2022, workers aged 20 to 64 worked an average of 37.5 hours per week, with the highest average weekly working hours recorded in Greece (41 hours), followed by Poland (40.4 hours), Romania and Bulgaria (40.2 hours each). In contrast, the Netherlands had the shortest average workweek (33.2 hours), followed by Germany (35.3 hours) and Denmark (35.4 hours).
While working longer hours, Greek employees lagged behind other Europeans with regard to payment, as the latter worked fewer hours for more money.
The average gross salary in Greece stood at €1,034, according to Eurostat data in July, €1,709 in the Netherlands, €1,835 in Germany, €1,395 in Spain, and €1,249 in Poland.
When comparing wages, and working hours, in relation to measuring productivity in per capita purchasing power parity (PPP), Greece ranks among the lowest, just above Chile and Costa Rica and one position below Hungary. In contrast, countries with higher wages and fewer working hours rank at the top of productivity, with Ireland leading the way, OECD data showed.
According to a report by Adecco, a global leader in HR services, more than half of Greek workers believe their wages are disproportionate to the work they offer, with only 44% in Greece estimating that they are paid fairly.
This perception aligns with Statista data, indicating that in 2022, the average annual salaries in Greece were €24,067, compared to €73,642 in Iceland, €72,529 in Luxembourg, €67,605 in Switzerland, €26,376 in Hungary, €29,540 in Portugal, €30,967 in the Czech Republic, and €24,337 in Slovakia.
OECD data ranks Greece 34th out of 35 countries in the comparison of average wages. Meanwhile, according to the latest survey by GSEE and the Institute of Labor in October, 65% of workers reported not receiving a salary increase, 25% said they work more than their regular hours, and of those, 48% are not compensated for the additional work hours.
Latest News
DM Dendias: We talk With Turkey But We Always Bring Up Their Unacceptable Positions
Second and last day of closely watched conference, entitled 'Metapolitefsi 1974-2024: 50 Years of Greek Foreign Policy', also included appearances by PM Mitsotakis, Ex-PM Tsipras and PASOK leader Nikos Androulakis, among others
Rhodes Airport Tops Fraport Greece’s Regional Airports in 2024 Performance
According to Fraport's data, more than 35 million passengers (specifically 35.2 million) were handled by Fraport-managed airports during the 11 months.
European Central Bank Cuts Interest Rates by 25 Basis Points
It is the fourth cut of interest rates by Europe’s central bank, a move expected by the markets and financial analysts leading to the rate settling at 3%.
Airbnb: New Measures Add €600 in Extra Costs for Property Owners
Property managers face an immediate administrative fine of 5,000 euros if access to the inspected property is denied or any of the specified requirements are not met.
Economist: Greece Included in the Best Performing Economies in 2024
Meanwhile, Northern European countries disappoint, with sluggish performances from the United Kingdom and Germany.
EasyJet Expands Its Routes from Athens
The airline’s two new routes will be to London Luton and Alicante and they will commence in summer 2025.
Capital Link Forum Highlights Greece’s Economic Resurgence; Honors BoG Gov Stournaras
Capital Link Hellenic Leadership Award recipient, Bank of Greece Gov. Yannis Stournaras, an ex-FinMin, was lauded for his pivotal role during Greece’s economic recovery
Tourist Spending in Greece Up by 14%, Visa Card Analysis Shows
Greece’s capital Athens emerged as the most popular destination, recording a 17% increase in transactions with Visa cards, surpassing even the cosmopolitan island of Mykonos.
Inflation in Greece Unchanged at 2.4% in Nov. 2024
The general consumer price index (CPI) posted a 0.4% decrease in November compared to the previous month
2024 Christmas Holidays: Extended Shop Hours Schedule
The 2024 Christmas Holidays extended shop hours schedule commences on Thursday, December 12 and runs until the end of the year.