Hot spots like the one at Athens, where people in the middle class have been spending their summer vacation, have seen their fortunes rise by more than 2,000 percent in the past decade.
The study, released by the World Bank and Oxford University, found that in Athens, the city with the world capital’s biggest hot spot is the capital city of Athens, which was a hot spot for just under a decade.
Athens, with its vast open spaces and rich culture, attracted tourists who made it their vacation destination for nearly 20 years, the researchers said.
The hotspots also attracted some of the world´s wealthiest people.
The research, released on Wednesday, said the rise of the Athens hot spot has led to a rise in the global share of the gross domestic product, which is the gross value added of all goods and services produced and consumed in a country.
The study also found that Greece is home and most of the country´s major metropolitan areas, with about half of the population, are in the top 10 percent of income earners.
The average income of people in those areas is almost twice that of the United States, which has a national median income of $72,000.
It is about 20 percent lower than in the United Kingdom, where median incomes are about $100,000 and the top 1 percent has about 11 percent of the nation´s total wealth.
The research, conducted by the Oxford-based Global Wealth and Opportunity Research Group, also said that the rise in wealth among people in Athens is largely driven by the growth in the city´s top 20 percent of households.
The rise of Athens has seen the city become the global capital of tourism, according to the study, which said that in 2010, Athens had 1.7 million visitors a day, about one out of every two people.
In 2016, the number was more than two out of three.
The hotspots have also attracted more millionaires than any other city in the world, said Rajiv Shukla, the World Banking Group´s chief economist and co-author of the study.
The Greek economy is already in trouble, but its potential for a recovery is much greater, Shuklau said.
In the decade since the Greek debt crisis, Athens has been a hotbed for speculation in the financial sector and for the construction of new wealth, he said.
This may be why many Greek officials are now calling for a debt write-off in the country, which would allow Athens to pay off its debts, he added.