Projected 2027 Flood Could Cost Greece €6.9 billion, Study Finds

Allianz Research modeled a severe flood event in Europe for 2027 and estimated that Greece would suffer a cumulative loss of €6.9 billion, about 0.8 % of its GDP. Direct damage is projected at roughly €1.2 billion, while indirect effects would cut household disposable income by 5 % and raise inflation by about 1 %.

The study notes that floods are Europe’s most frequent and costly natural hazard, with total losses rising from €63.1 billion in 2000‑2009 to €88.6 billion in 2020‑2025. About 80 % of flood damage remains uninsured, shifting the financial burden to households, businesses and public budgets. Under a 3 °C warming scenario, annual flood losses in the EU could surge to €50 billion by 2100. The report concludes that investment in flood resilience can yield a four‑fold return on costs.

These findings highlight the growing economic threat of extreme weather to Greece and the broader European region.