Climate Change Could Cost Greece 327,000 Jobs, Study Warns

The report, titled “Assessment of the Effects of Climate Change in Six Key Sectors of the Greek Economy,” examined impacts on tourism, agriculture, industry, finance, households, and entrepreneurship. Under the worst-case scenario—where Greece fails to adapt—disposable income could drop by 10%, and consumer behaviour could shift drastically.

Despite the risks, IOBE highlights opportunities, particularly in tourism and green entrepreneurship. Nikos Vettas, IOBE’s Director-General, stressed that Greece must act quickly. “The challenge is enormous, but so is the opportunity,” he said during a press conference on Tuesday.

While Greece has expanded its tourism sector, it remains heavily dependent on seasonal summer travel, leaving it vulnerable to climate disruptions. Additionally, the agricultural sector lags in technological adoption, limiting resilience against extreme weather.

The study also reveals that Greece ranks fifth lowest in the EU-27 for eco-innovation—green solutions that reduce environmental harm. Elias Demian, head of IOBE’s Environmental Economics Unit, noted that while Greece generates many academic ideas in sustainability, few reach commercial use due to bureaucratic hurdles and funding shortages.

“We produce plenty of ideas, but turning them into viable businesses remains a challenge,” Demian said according to Kathimerini

Source: pagenews.gr