In 2023, Greece led European countries in Old Age Net Social Protection expenditure relative to GDP at 13.63%, followed by France (11.73%) and Italy (11.36%). The variations from the previous year show Iceland with the largest increase at 8.07% and Ireland the only decrease at -1.85%. The top-backed Social Protection countries generally showed modest increases, highlighting a consistent need for adjusting economic policies to aging populations.
Future trends to watch include potential policy shifts due to economic pressures, changes in population demographics, and technological advancements in healthcare which may impact future trends in spending on Old Age Net Social Protection across European countries.
Top countries in Old Age Net Social Protection by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Greece | 13.63 | 2023 | +0.29% | +3.05% | View data |
| 2 | 2 France | 11.73 | 2023 | +0.17% | +0.7% | View data |
| 3 | 3 Italy | 11.36 | 2023 | +0.088% | +0.9% | View data |
| 4 | 4 Finland | 11.18 | 2023 | +0.63% | +1.21% | View data |
| 5 | 5 Austria | 11.14 | 2023 | +0.27% | +1.11% | View data |
| 6 | 6 Spain | 11.07 | 2023 | +2.31% | +4.7% | View data |
| 7 | 7 Belgium | 10.92 | 2023 | +2.06% | +2.23% | View data |
| 8 | 8 Portugal | 10.82 | 2023 | +0.19% | +1.37% | View data |
| 9 | 9 Sweden | 10.32 | 2023 | +0.097% | +0.75% | View data |
| 10 | 10 Norway | 10.32 | 2023 | +2.69% | +3.67% | View data |
