Salaries in Greece Seen Raising up to 30% on Labor Shortages

As the Greek economy continues is upward growth for the third year in a row, employees in all sectors of the economy should expect to see some form of a salary increase this year, fueled by labor market shortages, according to a report at Ta Nea.

The biggest raises which surpass 30% have been recorded in sectors characterized by low salaried employees. However, increases are also expected in key growth sectors like technology, tourism, energy and infrastructure.

Many supermarkets and retailers have already doled out raises, upping salaries from 800 euros previously to 900-1000 euros.

Salaried employees from the tourism and food and beverage sectors have benefited from the signing of collective agreements which detailed an initial incremental raise of 5.5% in 1/1/2023 followed by another 5% from 1/1/2024, translating to lower salaries ranging from 877 to 956 euros.

A labor market report by Randstad Hellas on tourism and hotel salaries in 2023 shows that they increased 46% from 2022, with gross salaries for the lowest paying positions coming in on average at 1,100 euros per month against 750 euros in 2022.

Source: tovima.com