Greek Household Wealth Grew 5.7% in 2024

Greek households saw their wealth grow significantly successful 2024, according to Allianz’s 16th Global Wealth Report, which tracks assets and indebtedness successful astir 60 countries. Gross fiscal assets roseate by 5.7%—outperforming the determination mean of 4.6%.

The superior operator was a 16.8% surge successful securities, boosted by grounds marketplace inflows reaching €10.3 billion. Much of this maturation came from superior shifts retired of slope deposits, which fell by 2.1% arsenic savers withdrew €4.7 cardinal to put successful bonds, communal funds, and ETFs.

Net Savings and Inflation-Adjusted Gains

Overall nett caller savings jumped by 50% to €5.9 billion, though they stay beneath pandemic-era peaks. Adjusted for inflation, Greece still recorded a 2.6% increase, with the purchasing power of household assets present 10.6% supra 2019 pre-pandemic levels. By contrast, Western Europe arsenic a whole remains 2.4% beneath that benchmark.

Debt Levels Continue to Decline

Household liabilities successful Greece fell modestly by 0.8% successful 2024, pursuing a 1.9% diminution successful 2023. This brought the debt-to-GDP ratio down to 44%—one of the lowest successful the portion and 34 percent points beneath its 2012 level. Net fiscal assets ultimately roseate 8.7%.

Despite these gains, Greece slipped 1 spot successful the planetary wealth ranking, taking the 29th spot, conscionable down Hungary.

Global Wealth Trends

Worldwide, 2024 was different year of strong fiscal growth. Household assets climbed 8.7%, surpassing the erstwhile year’s 8.0% emergence and reaching €269 trillion by year-end. In the U.S., household assets grew adjacent faster, contributing fractional of planetary fiscal plus maturation successful 2024—far outpacing Western Europe and Japan.

Securities Drive Long-Term Wealth Growth

The Allianz study notes that equities and different securities stay cardinal to wealth accumulation. Over the past two years, securities outpaced different plus categories astir twofold, with planetary increases of 11.5% successful 2023 and 12% successful 2024.

In Greece, securities accounted for 42% of household portfolios—higher than the Western European mean of 35% but beneath North America’s 59%. The study concludes that while Greek households payment from rising plus values, their debased savings rate—just 0.5% annually—limits semipermanent maturation potential.