Athens, the "oldest" city in Europe in 2050 - Working-age population will shrink by over 30% in the next 25 years
Major European cities are facing a major demographic challenge. According to estimates by Oxford Economics, by 2050, 60% of major cities in Europe will have a lower working-age population than in 2025.
Southern European regions will face the biggest problems, with Athens expected to see the sharpest decline in its working-age population, over 30%.
According to the firm, European cities are at a critical juncture, with population slowdowns, weakening industrial competitiveness and a housing crisis affecting economic prospects.
Average house prices in Europe have risen significantly over the past decade. Around a third of major European cities are seeing property prices double, according to economists.
But beyond the housing crisis, a major challenge for Europe's big cities is demographics. Over the past 25 years, the population of big cities has expanded by 19%, above the EU average of 8%. However, according to the firm's estimates, growth will then move at a much slower pace, 4.9%, until 2050.
The working-age population will start to shrink from the early 2030s. With falling birth rates and increasing life expectancy, Europe's demographic profile will age. In the south of the continent, this decline will be most pronounced. Large cities such as Athens, Lisbon, Porto, Milan and Rome are expected to experience sharp declines in their working-age population.
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