Eurostat data highlight wide wage and purchasing power gap in Greece
Greece ranked second-lowest in the European Union in 2024 in terms of average annual adjusted full-time wages, at €18,000, according to data released by Eurostat. Only Bulgaria recorded lower wages, at €15,400.
The figures show that average wages in Greece are approximately 55% below the EU average, underscoring a persistent and wide income gap.
The disparity is even more pronounced when purchasing power is taken into account. Greece recorded the lowest purchasing power level in the EU, standing about 46% below the bloc’s average. The data indicate that relatively low wages are further undermined by reduced purchasing power, placing sustained pressure on household finances and contributing to a gradual erosion of living standards.
Long-term income trends further illustrate the scale of the challenge. Between 2004 and 2024, Greece and Italy were the only EU member states to record a decline in real income per capita, with Greece posting the steepest fall, at 5%. The drop largely reflects the impact of austerity measures implemented during the country’s bailout programmes. All other EU countries recorded real income growth over the same period.
Social indicators mirror these economic pressures. Greece has the highest proportion of citizens who report feeling poor, at 67%, according to Eurostat data. The country also ranks among the worst performers in energy poverty, with 19% of the population unable to adequately heat their homes in 2024, compared with an EU average of 9%. Bulgaria was the only other member state to record the same level.
