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Modern Volos is built on the area of the ancient cities of Demetrias, Pagasae and Iolkos. Demetrias was established by Demetrius Poliorcetes, King of Macedonia. Iolkos, Iolcos or Iolcus, was the homeland of mythological hero Jason, who boarded the ship Argo accompanied by the Argonauts and sailed in quest of the Golden Fleece to Colchis. To the west of Volos lie the Neolithic settlements of Dimini, with a ruined acropolis, walls, and two beehive tombs dating to between 4000-1200 BC, Sesklo, with the remains of the oldest acropolis in Greece (6000 BC), and also the foundations of a palace and mansions, among its most characteristic examples of Neolithic civilisation.Volos is a relatively new city, and according to local statistics, its growth was substantially launched in 1881 when the area became part of the former Greek Kingdom. At this time the city had a population of around 4,000, mostly distributed around the old castle city (Palaia District today). Over the following century the city multiplied its population, reaching an overall population of approximately 200,000, including both permanent and temporary citizens, as well as university students.


A large proportion of the population (today, around 34% of the total) derives from the refugee population, established in the area in 1924, while another population group, comprising almost 30%, are the internal immigrants of Thessaly, whose consolidation began in 1890 and reached its peak in the late 1970s. The remaining population is mainly from Pelion and Almyros county, as well as from elsewhere in Greece. A significant number of inhabitants from elsewhere in Europe have also lived and continue to live in the city.


The city represents a fully urbanized Greek city with a large population in tertiary employment; 52%; 42% in secondary and less than 6% in primary employment. Volos today attracts more than 65% of Magnesia's perfectural population.XVIth Mediterranean Games Volos 2013, commonly known as the 2013 Mediterranean Games will be the 17th Mediterranean Games. The Games will be held in Volos, Greece over 10 days, from June 24 to July 3, 2013, where more than 4,000 athletes from 24 countries are going to participate. There will be a total of 260 medal events from 27 different sports.