Greek households saw their wealth grow significantly in 2024, according to Allianz’s 16th Global
Greek households saw their wealth grow significantly in 2024, according to Allianz’s 16th Global Wealth Report, which tracks assets and debt in nearly 60 countries. Gross financial assets rose by 5.7%—outperforming the regional average of 4.6%.
The primary driver was a 16.8% surge in securities, boosted by record market inflows reaching €10.3 billion. Much of this growth came from capital shifts out of bank deposits, which fell by 2.1% as savers withdrew €4.7 billion to invest in bonds, mutual funds, and ETFs.
Net Savings and Inflation-Adjusted Gains
Overall net new savings jumped by 50% to €5.9 billion, though they remain below pandemic-era peaks. Adjusted for inflation, Greece still recorded a 2.6% increase, with the purchasing power of household assets now 10.6% above 2019 pre-pandemic levels. By contrast, Western Europe as a whole remains 2.4% below that benchmark.
Debt Levels Continue to Decline
Household liabilities in Greece fell modestly by 0.8% in 2024, following a 1.9% decline in 2023. This brought the debt-to-GDP ratio down to 44%—one of the lowest in the region and 34 percentage points below its 2012 level. Net financial assets ultimately rose 8.7%.
Despite these gains, Greece slipped one place in the global wealth ranking, taking the 29th spot, just behind
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