Demographic Crisis: Studies Show Dramatic Impact on GDP

Arecent study by the Athens-based Foundation for Economic & Industrial Research (IOBE) and Eurostat show that Greece’s population is expected to shrink from around 10.4 million today to 9.5 million by 2050, and significantly below nine million by 2100 – unless the number of births pick up.

As expected, the decrease will be accompanied by an increasingly aging population, resulting in a ratio of seniors to the active population exceeding 0.60 after 2050, up from 0.35 in 2020.

The immediate impact on the labour force will be dramatic, the study notes, as a shrinking labour force means a decline in GDP.