BUSINESS

Athens tops list of European capitals for impact on national GDP

TAGS: Economy

Greece would lose almost 20 percent of its economic output without Athens, which is higher than any other European capital, according to research by the Cologne Institute for Economic Research.

“Greece’s economic output per capita would be as much as 20 percent lower without its historical, cultural and economic center,” said the institute in a press release on Wednesday.

Researchers examined the impact of 15 capital cities on their country’s economies and none came close to Athens, which is seen as contributing 19.9 percent to Greece’s gross domestic product.

The next city on the list is Paris, whose absence would slash French GDP by 15 percent, according to the study. Prague, Lisbon, Copenhagen, Helsinki, Stockholm and London followed with double-digit impacts on their countries’ economies.

The only capital that was found to be a drag on national output was Berlin. Researchers indicated German GDP would grow by 0.2 percent without Berlin.

“Berlin’s minor economic role is unusual for Europe, but typical for Germany: It is an expression of the federalist business model,” said the institute.

Online