Each year at such a time the attention “falls” to Macedonia and especially in Thessaloniki, as in September it is the month of its inauguration TIFwhere the government’s financial package is announced by the prime minister.
Despite the attention of Macedonia on TIF, however, with the “parade” of political, economic and business agents, it is a fact that this is not enough to “cure” pathogens that concern a timeless development “gap” between Northern Greece and the Center of Economics. It is no coincidence that in yesterday’s (05.09.2025) in the presence of Kyriakos Pierrakakis at a conference of the Economist on the eve of the inauguration, the Minister of Finance emphasized regional development, specializing in eastern Macedonia and Thrace.
On the occasion of this year’s TIF, and as far as the wider area around Thessaloniki is concerned, the latest official data illuminates a district that runs faster from previous historical periods, but is still noticeably behind Athens.
In 2022 (the last year with full regional nationalist data from ELSTAT), Central Macedonia produced 14% of the Greek gross value added, second after Attica (48.1%). In terms of per capita GDP it reached 15,777 euros, when the national midfielder was 19,647 and Attica 27,008. This means, in terms of GDP per capita, that the resident of Central Macedonia is moving to 80% of the national average and only 58% of Attica.
In the labor market, in 2024 it closed with a downward but still high unemployment in the region. According to ELSTAT, unemployment in Central Macedonia was 12.4%in the fourth quarter 2024, significantly above the EU (6.2%), but lower than the much higher double -digit rates of previous years.
In income, the image is more complex. The disposable income per capita of Central Macedonia is marginally lacking in the national average, based on the latest Eurostat annual measurement for households. The gap with the richest European regions remains large and is associated with the lowest productivity observed while also recorded sectoral structure.
Demographically, Greece in total continues its gradual shrinkage: 10,400,720 inhabitants on 01.01.2024 (−0.1% annual change), with the physical reduction being partially offset by a positive immigration balance. Central Macedonia follows the same national pattern of aging and stagnation, which is pushing the labor market and the availability of skills.
In the infrastructure, Thessaloniki has to make changes, as the subway opened on November 30, 2024 with temporary breaks in the spring of 2025 for expansion work as the project for the route to Kalamaria is running, with the aim of completing 2025.
“Flyover” proceeds with a completion horizon in 2027, crucial for the congestion of traffic and the reliability of transit flows.
In trade and shipping, the port of Thessaloniki in 2024 exhibited a superfluous load compared to 2016 (+10.8% annually) with the work of the 6th pier proceeding with significant investments.
Public and private investment remain at the center of attention. At national level, in 2023 the gross fixed capital formation increased 6.6%, but the analog retardation outside of Attica continues. Regional evidence shows that Central Macedonia is moving positively, but even deeper upgrading of capital (technological and human) is needed to close the income and productivity distance from the “Athinocentric” average.