Eurobank study: Greek university upgrades could boost GDP by 12.7%

A study by Eurobank’s Economic Research and Analysis Unit suggests that upgrading the quality of Greek higher education could boost the nation's GDP by between 10.8% and 12.7% in the long term. This growth would primarily be driven by increased productivity and improved knowledge diffusion if Greece aligns its research and development systems with the most advanced international standards.

The report, titled ‘Higher Education in Greece: Dimensions, Challenges and Potential Contribution to Growth,’ highlights a paradox in the Greek system: while Greece has the highest participation rate of 20-year-olds in universities within the EU-27 at 55.7% (compared to an average of 33.1%), it faces significant challenges regarding skill quality and labor market integration. The study notes high rates of over-qualification and inefficiencies in matching qualifications to job roles.

Additionally, the study proposes that increasing the number of international and returning Greek students from approximately 25,000 to 100,000 could provide an immediate annual GDP contribution of about €1 billion. The research was conducted by Chief Economist Dr. Tasos Anastassatos and Research Economist Dr. Konstantinos Peppas.