Greece's Education Sector Plays Pivotal Role in EU Business Landscape

greecebusiness 1

Businesses within the European Union's education sector have emerged as key players in the region's business economy, with Greece standing out for its significant contributions, according to recent data released by Eurostat.

In 2021, the EU's education sector comprised a total of 855,700 enterprises, accounting for 2.8% of all businesses active in the business economy.

Eurostat's publication of Structural Business Statistics (SBS) data on the education sector, following the implementation of the European Business Statistics (EBS) Regulation, marks a significant expansion in service coverage. However, it's important to note that SBS only covers the activities of market producers within the sector, i.e. those operating under market conditions.

In 2021, this segment of the sector employed 2.4 million people, generated €65.2 billion in value added, and accumulated a net turnover of €106.6 billion.

Greece particularly stands out in terms of employment within the education sector, contributing significantly to the overall employment figures in the business economy. The sector's employment contribution in Greece amounted to 4.2%, showcasing its pivotal role in providing jobs within the country.

Across the EU, the SBS data revealed varying degrees of contributions from the education sector to the value added and employment within the business economy. While countries like Cyprus, Spain, and Sweden demonstrated relatively higher contributions, others such as Luxembourg and Romania showed comparatively lower figures.

greecebusiness scaled

With Greece leading the pack in terms of employment contribution, the data underscores the importance of the education sector not only in shaping the country's economy but also in driving growth and development across the European Union.

(Source: Eurostat)


Copyright Greekcitytimes 2024