In Greece, there are two distinct realms: one comprises the major urban centers, such as greater Athens area and Thessaloniki, where half of the country’s population resides and the bulk of its GDP is produced, while the other encompasses the entirety of the nation’s regions. The disparity between these two worlds is substantial.
According to the latest data from ELSTAT, in 2021 the broader region of Athens accounted for 47.9% of the domestic Gross Value Added, with Central Macedonia following at 13.7%. The Ionian Islands accounted for 1.6%, and the islands of the Northern Aegean for 1.3%. Regarding GDP per capita, the capital is again at the top with 23,335 euros, with the North Aegean being at the bottom position with 10,658 euros.
Stelios Gialis, Associate Professor of Economic and Labor Geography at the University of the Aegean, explains that in Greece, the economy’s free market nature exacerbates the gap between the central areas and the periphery. This disparity is amplified due to the lack of robust regional development initiatives. Consequently, agricultural and informal sector activities, prevalent in rural areas, yield lower incomes compared to the urban centers where large wage labor markets and self-employed professionals are concentrated.
This observation is confirmed by Athanasios Malliaras, president of the Chamber of Commerce of Serres, who emphasizes the challenges faced by the prefecture, consistently ranking low in GDP per capita. He notes the decline of the primary sector as a significant issue and highlights the impact of cross-border smuggling due to the proximity to Bulgaria. Additionally, he mentions the allure of favorable taxation in the neighboring country, prompting business migration, especially during the economic crisis. Malliaras calls for the establishment of a Special Economic Zone in Serres to address these issues.
On the contrary, the picture emerging from the region of the South Aegean, is encouraging. According to professor Stelios Gialis, the dynamism of this region is attributed to its tourism sector, which did not suffer the same blow as other industries during the period of the great recession. Tourism supported construction and employment, despite the fact that “many of the jobs it provides are not well paid.”
Source: tovima.com
Latest News
INSETE Report: Greece a Hotspot for European Vacationers
Greece among top five countries on travelers' itineraries from Germany, France and the UK
Study: Cost of Basic Food Basket in Greece and Other Countries
The findings are based on IELKA's regular report, which includes a price comparison study using data from price comparison platforms in each country and direct price checks from supermarket chains.
DBRS: Greece’s Economic Reforms Boost Growth Prospects, But Investment Gap Remains
However, despite these advancements, Greece still faces a substantial investment gap compared to its eurozone peers.
Greeks Took Out 65% Loans Online in 2023
Approximately 850-euro-million worth of loans in 2023 were issued via e-banking and mobile banking
Greece-Egypt “GREGY” Interconnector Moving Ahead as Planned
The GREGY project aims to bring an underwater cable from Egypt to Greece to transport electricity generated in Egypt, through renewable sources, to Europe
Greece: AADE Completes Major Overhaul of Attica Tax Services
Taxpayers in Attica will be served digitally through the "My Requests" application on the myAADE digital portal (myaade.gov.gr) or via the myAADEapp.
Cocktail of Dust and Heat Brings Stifling Sunday Weather
Meteorologists expect the conditions to persist until at least Wednesday
Greek Hotels Vindicated by Commission’s Ruling on Booking.com
The Commission has ruled that Booking is a "gatekeeper" and must comply with the Digital Marketing Act, addressing complaints by the European Hotel Industry and Hellenic Chamber of Hotels
Which Islands Will Have Italians Flocking to Greece this Summer?
Well-known Italian travel magazine details reasons why Skopelos, Naxos and Astypalaia are the go-to summer destinations for Italians
Antentokounmpo 5th Highest Paid Athlete in World
The basketball player rakes in 111 million dollars per year, between his salary at the Bucks and endorsements from big brands like Amazon, Nike and Pepsi