Economic Overview & Business Opportunities
Located in Southern-Eastern Europe, in the Balkans peninsula, Greece is a mountainous nation with two-thirds of the country is covered with mountains. Though Greece consists of 2,000 Greek islands, only 168 of them are inhabited. Greece is the country that is very rich in natural resources providing petroleum, magnetite, lignite, bauxite, hydropower, and marble.
Though Greece fell into recession in the past, all economic indicators show the recovery of economic outlook. The Greek economic adjustment, fiscal consolidation, internal devaluation, and structural changes have addressed the fiscal and external imbalances and helped the nation to regain access to international capital markets. As such, Greek economy has seen to cover its lost ground slowly in terms of GDP, labour force dynamics and investment. The International Monetary Fund predicted that the Greek economy will grow by 2.6% in 2018, up from the estimated 2.4% growth rate in a draft budget plan tabled to Parliament by the Greek government. The European Commission has also forecasted that Greece will see a steady growth at an annual rate of 1.5% in the period 2021-2024. IMF predicted to see a decline in the unemployment rate due to the economic revival activities, while the rapid improvement in the economic climate has also favoured Foreign Direct Investments (FDI). On top of that, the Doing Business 2018 report has ranked Greece as the 37th in terms of the ease of starting a business.
After years of challenging economic circumstances, Greece is on its recovery path. Many people see that investing in Greece is a high-risk, high reward investment strategy. Foreign investment has become the fundamental factor in gearing up the growth momentum.
Why invest in Greece?
- Strategic Location
Strategically located at the crossroads of Europe, Asia, and Africa, Greece is the ideal gateway to enter the regional market of more than 140 million consumers.
- It is a Member of European Union
Greece is the member of the European Union and European Monetary Union, which provide strategic oversight, assistance, and access to credit during the country’s economic struggles.
- Strong Shipping Sector
Greece has one of the strongest shipping sectors in the world due to its strategic location. Greece location has its geostrategic significance where it links the emerging markets of the Balkans, Black Sea, Eastern Europe, and Eastern Mediterranean regions.
- Cheapest EU Visa Residency
Greece offers the cheapest EU Visa Residency if compared with all other European countries.
- High Volume of Tourist
Greece has the high record of visitors and the number is increasing. The high volume of tourist is actually a good omen for economy recovery activity, as it will create more business opportunities in the country.
On a final note, Greece offers plenty of opportunities to investors with bigger risk appetite. Its geographical location, fast-growing tourism sector as well as the stable macroeconomic environment within the Euro Zone has created opportunities for investments from across the globe. If you are expanding your business portfolio, Greece could be one of the good options in Euro Zone.
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