Thessaloniki is the second-largest city in Greece and the capital of the periphery of Central Macedonia as well as the capital of the Decentralized Administration of Macedonia and Thrace. Thessaloniki is Greece's second major economic, industrial, commercial and political centre, and a major transportation hub for the rest of south-eastern Europe; its commercial port is also of great importance for Greece and the south-eastern European hinterland. The city's industries centre around oil, steel, petrochemicals, textiles, machinery, flour, cement, pharmaceuticals, and liquor. The city is renowned for its festivals, events and vibrant cultural life in general, and is considered to be Greece's cultural capital. 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 Thessaloniki is 1 Million (2019 est.), while the inflation rate (CPI) is -0.2% for Greece as at August 2019. 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 Thessaloniki, 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): Thessaloniki as at 1 October 2019 is low in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Low 2) Clothing: High 3) Communication: Very High 4) Education: Average 5) Furniture & Appliances: Very Low 6) Groceries: Low 7) Healthcare: Low 8) Household Accommodation: Very Low 9) Miscellaneous: Average 10) Personal Care: Low 11) Recreation & Culture: High 12) Restaurants Meals Out and Hotels: Average 13) Transport: High Thessaloniki is for example -3.8% cheaper than Houston TX for groceries, -16.9% cheaper for household costs than Kuala Lumpur, and 52.2% more expensive for transport costs than Dubai. The hardship premium for Thessaloniki for an expat from Perth, is for example 0%, i.e. host location (Thessaloniki) premium of 10% minus home (Perth) location premium of 10%. Thessaloniki is ranked as a minimal hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Thessaloniki? Register subscribe to your home location and Thessaloniki and run your personalised reports.