Greece is in Southern Europe, bordering the Aegean Sea, Ionian Sea, and the Mediterranean Sea, between Albania and Turkey. The climate is temperate with mild, wet winters and hot, dry summers. The official language is Greek. English is widely spoken, but business associates are impressed if foreigners know even the most basic Greek phrases. When travelling around, knowing the Greek alphabet help, many urban street signs also display the Latin alphabet equivalent. The main religion is Christianity. The Greek economy is a developed economy with the public sector accounting for about 40% of GDP. The service sector contributes 75.7% of the total GDP, industry 20.6% and agriculture 3.7%. Greece is the twenty-fourth most globalized country in the world and is classified as a high income economy. Greeks commonly take a siesta after lunch, especially in the summer. Offices may be closed for several hours at midday. Expatriate business dress is conservative and formal. The security risk for expatriates in Greece is low, but medium in the Albanian border region. Risks include low levels of street crime, risks associated with protest action (often related to the economy and austerity), organised crime near the Albanian border, and domestic terrorism whose targets include multinationals and foreign banks. The currency of Greece is the Euro (EUR). There have been restrictions on some banking services such as limits on cash withdrawals. Medical facilities are generally good on the mainland, but may be limited on the islands. There have been cases of West Nile Virus (WNV) reported. The population of Greece is 10.8 Million (2018 est.), while the inflation rate (CPI) is 1% for Greece as at August 2018. Xpatulator Hypothetical Tax for Greece is based on the current personal income tax rates which are progressive up to 45%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Greece, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): Greece as at 1 October 2018 is low in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Very Low 2) Clothing: Very High 3) Communication: High 4) Education: Average 5) Furniture & Appliances: Low 6) Groceries: Low 7) Healthcare: Very Low 8) Household Accommodation: Very Low 9) Miscellaneous: High 10) Personal Care: Very Low 11) Recreation & Culture: High 12) Restaurants Meals Out and Hotels: Very High 13) Transport: Average Greece is for example -15.5% cheaper than USA for groceries, -35.4% cheaper for household costs than UK, and 92.4% more expensive for transport costs than India. The hardship premium for Greece for an expat from Australia, is for example 0%, i.e. host location (Greece) premium of 10% minus home (Australia) location premium of 10%. Greece is ranked as a minimal hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Greece? Register subscribe to your home location and Greece and run your personalised reports.