Page 30 - Turkinsurance Digital Magazine

28 country profile 29

GREECE

Struggling with economic hardships since 2010s, Greece is one of the tourism countries
around the world with its islands, beaches and historical texture that has hosted many
civilizations throughout history. Insurance market of the country still preserves its

potential despite the economic challenges over the years.

Located on the southern part of the Balkans, Greece shares bor- through economically challenging times, unemployment rate
ders with Albania, Macedonia and Bulgaria to the north, and of the young population who are between 15 and 24 years old
Turkey to the east. The Aegean Sea lies to the southeast of the stands at 43.6 percent. 36 percent of the population is estimated
mainland Greece, Mediterranean Sea to the south, and the Io- to be living below the poverty line.
nian Sea to the west. It is one of the highest-potential tourism
countries thanks to the cities of Athens and Thessaloniki with 42.2 percent of the population are between 25 and 34 years
their rooted histories. old. 21 percent are older than 64, 13.7 percent are between 0
and 14 years old, 13.3 percent are between 55 and 64, and the
Greece has a very long coastline at 13,676 kilometers, featuring remaining 9.7 percent are between 15 and 24.
a Mediterranean climate with mild, wet winters and hot, dry
summers. The country owns natural reserves of lignite, oil, iron, Real growth rate of GDP up to 1.4%
bauxite, lead, zinc, nickel, magnesite, marble, and salt; and a
decent hydro-electrical potential. Yet, it also faces a significant Growth rate of Gross Domestic Product (GDP) in Greece, in-
risk of earthquakes; in addition to environmental risks such as creased up to 1.4% as of 2017, total GDP standing at 200.7
air pollution due to emissions from transportation and electrical billion USD. GDP per capita is at 27,800 USD. Service sector
power plants, water pollution, loss of biodiversity at land and makes the highest contribution to production of Gross Domestic
sea ecosystems, and industrial wastes.
Product with a rate of 79%, followed by industry with 16.9 per-
cent and agriculture with 4.1 percent.
42.2% of the population are between
25 and 34 years old Selected indicators for Greece
Population 10,7 million
According to the statistics by CIA Factbook, population of GDP Per Capita 27.800 USD
Greece has reached 10,761,523; with a population growth rate
that was reported as -0.07% as of 2018. 51.2 percent of the Unemployment rate 21,5%
population are females and 48.7 percent are makes. Urban pop- GDP 200,7 billion USD
ulation accounts for 79.4 percent of the entire population of the
country. The major urban region in Greece is its capital city, Inflation rate 1,1%
Athens. Thessaloniki follows as the second largest urban area. Number of insurance companies 47
Average life expectancy stands at 80.8, which goes down to 78.2 Total premium production in 2017 4.202,5 million USD
for male population and up to 83.6 for female population. Lit-
eracy rate is at 97.7 percent. As a country that has been going Reference: CIA, OECD