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Economy and Investment

  • Greece has a capitalist economy with a public sector accounting for about 40% of GDP and with per capita GDP about two-thirds that of the leading euro-zone economies. Tourism provides 18% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in agricultural and unskilled jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP.
  • Greece currently possesses the largest merchant marine fleet in the world, representing 19.63% of total world dwt and 49.96% of the total European Union (EU) fleet .
  • Shipping counts second only to tourism in Greece in terms of economic contribution, contributing an estimated 7% to the country’s GDP.
  • Best Prospect Sectors include:    

- Shipping Equipment and Services        
- Information and Communications Technologies     
- Hotels & Tourism & Real Estate
-  Renewable Energy Sources
-  Safety and Security
-  Defense and Aerospace
-  Maritime and Border Security
-  Agricultural products
-  Cosmetics and Beauty Products
-  Almonds, Mink Fur Skins, Soybeans, and Wood Products

  • The Greek economy has moved during the last two years from a state of prolonged economic crisis to a state of economic recovery. The first signs of solid growth, declining unemployment rate, and increasing confidence in the economy are now evident. Early date on 2017 signal a trend of positive GDP growth, forecasted by the European Commission and IMF to be 2.1%.

  •  The new focus of the ESM support program on fiscal reforms is to improve the legal framework to deal with Non Performing Loans (NPL’s) and liberalizing product market, along with the anticipated debt relief which shall bolster confidence, restore macroeconomic stability and facilitate Greece’s return to the markets.

  •  Over the financial period 2014-2020, Greece will receive €35 billion of EU funds, aiming at boosting new investments that will contribute positively to the country’s economic recovery.

  •  Business climate is expected to improve, leading to the return of investment, as financing conditions may ease gradually. In 2018, investment growth will accelerate further and gross capital formation will become the main contributor of growth. Contribution of net exports is expected to turn positive too in 2017 and 2018, based on the recovering shipping sector and the increased demand experienced by the Greek tourism sector.