Aging, Falling Birth Rates, and Labor Shortages: Without Migrants, Greece's Economy Could Collapse
Fewer young people mean fewer workers, lower productivity, and mounting strain on pension systems as the number of retirees grows and the base of contributors shrinks. Europe is confronting a slow but relentless demographic crisis: its population is aging, and births are steadily declining. People are living longer, but they are having fewer children. In 2023, the average number of children per woman across the European Union fell to a record low of 1.37-well below the 2.1 needed to sustain a stable population. In countries like Malta, Poland, Spain, and Italy, that figure is expected to fall to barely half the replacement rate by 2024, reaching levels once seen only in highly developed Asian societies such as Japan and South Korea. Greece is no exception. According to the Hellenic Statistical Authority (ELSTAT), the country recorded just 68,467 births in 2024-a 4.2 percent drop from 2023, when 71,455 children were born. This is the...
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