Greek household income and wealth rise as employment and tourism strengthen

Athens, Greece. Greek households have recorded increases in disposable income and wealth over the past two years, according to Alpha Bank, which cited stronger employment, economic activity, tourism and the restoration of investment grade status.

Income growth

In its latest economic developments bulletin, Alpha Bank said household finances had improved on two fronts, although Greece continued to lag the eurozone significantly in disposable income while holding a relatively stronger wealth position.

Gross disposable income for Greek households rose at an average annual rate of nearly 5 per cent over the past two years. In the first quarter of 2026, household income increased by 3.2 per cent year on year.

The increase exceeded average annual inflation of 3 per cent during the same period, helping households recover part of the real income losses recorded in 2022 and 2023 amid a sharp rise in inflation.

Saving and borrowing

Household saving remained negative at about -3 per cent of gross disposable income, as nominal private consumption exceeded household income.

Alpha Bank said this indicated that part of household spending continued to be financed through other sources, including savings accumulated during the pandemic and bank borrowing.

Consumer loans in the domestic banking system have risen sharply. The latest available data for June showed annual growth of 6.9 per cent.

Wealth effect

The bank said rising household asset values could strengthen the sense of financial security and encourage spending through the wealth effect.

It attributed much of the improvement in household income to higher employment and stronger economic activity.