Greece Is Richer. So Why Do So Many Greeks Still Feel Poor?
Despite Greece's economic recovery and GDP growth since its debt crisis, many Greeks still feel poor due to stagnant wages, high living costs, and lingering inequality. The gap between macroeconomic improvements and personal financial well-being has left a significant portion of the population struggling to make ends meet.
Background
Greece's economy has recovered significantly since the debt crisis of 2010–2018, posting strong GDP growth and reducing its public debt ratio. However, new OECD data shows that Greeks' real disposable income (income after taxes and transfers, adjusted for inflation) remains about 15% below its pre-crisis peak — the worst recovery among OECD countries. Unlike other crisis-hit nations such as Portugal or Ireland, Greece also suffers from very high inequality: the top 20% earn roughly six times the bottom 20%, and "in-work poverty" (employed people who still fall below the poverty line) is the highest in the OECD at nearly 14%. Many Greeks are employed in low-wage, part-time, or informal jobs, while the cost of living (especially housing and energy) has risen sharply. The gap between aggregate GDP numbers and lived household experience is unusually wide in Greece.