The impact of low fertility rates on economic growth

Population growth rate (%)
fertility2

 

 

 

Historically, population growth rate has been affected by major economic crises, such as 2008 in Europe and 2011 in Greece

 

 

 

 


Birth/death balance, Greek population and Migration, 1960-2050
fertility
 
 
During the crisis, the Greek population decreased by 370,000, deaths surpassed births by about 30,000 (2011), migration flows were reduced, and high skilled human resources migrated
During the crisis, the country's population decreased by 370,000, the number of deaths surpassed that of birth by about 30,000 (2011), migratory flows to the country were reduced, while some of the human potential and even high skills migrated to "brain drain" with Greece having third place after Cyprus and Spain as the percentage of young people fleeing their country.
During the crisis, the country's population decreased by 370,000, the number of deaths surpassed that of birth by about 30,000 (2011), migratory flows to the country were reduced, while some of the human potential and even high skills migrated to "brain drain" with Greece having third place after Cyprus and Spain as the percentage of young people fleeing their country.

Greece, coming out of the crisis, should transform its demographic gap into an economic and social surplus, in order to maintain growth prospects in the future

A mix of policies to restrain low fertility rate, will create a solid base to rebuild the Greek economy. These policies could include:

  • Lighter taxation for large families
  • Free or low-cost services provision to families who decide to have a child
  • Reduction of the number of children required for a family to be considered as large

 

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Olympia Liami
Manager, Market Research, PwC Greece
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