Eurostat

However, several countries experienced significant declines, with Greece leading the list down by 16%, followed by Estonia, Latvia, Spain, and Sweden.

Greek long term unemployment was only surpassed by Bosnia Herzegovina (9.6%). Spain was the 3rd worse with 4.3%

According to Eurostat, the average adjusted annual salary in Greece stands at €17,000, with Hungary close behind at €16,900. The only country faring worse is Bulgaria, where the figure is €13,500.

Among young people aged 15-24, unemployment fell notably to 16.3% from 23.1% in Sept. 2023. For those aged 25-74, the rate declined to 9% from 10%.

In Europe’s common monetary bloc, the Eurozone, the consumer price index settled at 2% from 1.7% the previous month

According to Eurostat, Greece recorded the second largest reduction on a year-to-year (YTY) basis at -8.9 pp

This subsequent debt repayment is expected to be completed by Sept. 2025, with an amount of at least 5 billion euros.

The annual inflation rate for the European Union was 2.4% in August 2024, down from 2.8% in July, while a year earlier, it stood at 5.9%.

In Greece, travel revenues saw a notable increase in the first half of 2024 (Jan – June) underscoring the robust performance of the country’s tourism sector. 

This puts Greece among the most costly countries in Europe for alcoholic beverages placing it 3rd out of the 27 EU states, with prices reaching 51% above the average.

Greece recorded a much lower satisfaction rate of 7.3, surpassing only Bulgaria (6.0) and Croatia (7.2).

It ranked 8th regarding short-stay accommodations booked via online platforms - Airbnb, Booking, Expedia Group, or TripAdvisor

Greece's growth in short-term bookings in Q4 2023 on platforms like Airbnb outpaced the EU average, recording a 28.7% increase compared to Q4 2022, higher than the EU's average growth of 22.7%

At the same time, the formerly bailed east Mediterranean country records the biggest decrease in debt-to-GDP, on a quarterly basis

Core inflation, which excludes the calculation of volatile fuel and unprocessed food prices, also slightly declined to 2.8% annually from 2.9% a month earlier

The 2022 Eurostat data also reveals that satisfaction with free time is inversely related with having children at home and higher education levels

The data revealed an interesting divide between the West and East, with both men and women in the latter opting to get married for the first time at an average younger age compared to couples in Western Europe

A year earlier, the rate was 6.1%. European Union's annual inflation was 2.7% in May 2024, up from 2.6% in April. A year earlier, the rate was 7.1%

Greece saw a significant rise in hourly labor costs, increasing by 7.9%, with the business economy experiencing a 10% hike.