Greeks rank as the second least satisfied citizens in the European Union in 2023 and hold the third lowest satisfaction score across Europe, according to new data from a Eurostat survey.
The findings from the EU’s statistical office place Greece near the bottom of the bloc for life satisfaction, with an average score of 6.9 out of 10. Only Bulgaria fares worse, with a score of 5.9—the sole EU country to fall below 6. The EU average stands at 7.3, leaving Greece significantly behind, alongside Latvia, which shares the same score. Meanwhile, 15 EU countries reported scores close to or exceeding the average, indicating that most EU citizens feel more satisfied than dissatisfied with their lives.
At the top of the list, Finland recorded the highest life satisfaction score at 7.8, followed by Belgium, Austria, Romania, and Slovenia, all scoring 7.7.
Factors influencing life satisfaction
Eurostat notes that life satisfaction is shaped by various factors, including age, education, family life, and financial stability. Economic circumstances play a particularly significant role, and Greece’s low ranking aligns with its struggling economy.
In 2023, the average annual adjusted full-time salary across the EU was €37,900 ($39,460). By comparison, Greece reported one of the lowest salaries in the 27-member bloc at €17,000 ($17,700), only slightly ahead of Hungary (€16,900 or $17,595) and Bulgaria (€13,500 or $14,055).
Greeks face deepening poverty
Despite signs of economic recovery, Greeks are becoming poorer. According to the OECD, Greece is the second poorest country in Europe as of late 2024, with real wages dropping by 30% since pre-crisis levels.
The Greek government often highlights the country’s economic growth, which currently surpasses the Eurozone average. However, this growth has done little to boost the real purchasing power of Greek citizens, who remain among the poorest in the EU. Comparisons are frequently drawn between Greece and Bulgaria, whose economic gap is rapidly narrowing.
A shrinking economy amid ongoing challenges
Before 2009, Greece’s GDP per capita was close to the EU average. However, over the past decade, 10 countries have overtaken Greece in living standards. Today, Greece ranks just above Bulgaria as the second poorest EU country, though experts warn it may soon fall to the bottom spot.
This paradox of economic recovery paired with persistent poverty can be traced back to the financial crisis and subsequent austerity measures. To secure a bailout from the IMF and EU, Greece implemented severe spending cuts and tax hikes, which devastated businesses and households and triggered a collapse in the economy.
As a result, Greece’s economy remains approximately 19% smaller than it was in 2007, while the EU economy has grown by 17% during the same period. This stark disparity underscores the long-lasting effects of the crisis and the uphill battle Greece faces to restore economic stability and improve life satisfaction for its citizens.