- Jobs Growth – Greece’s seasonally adjusted unemployment rate fell to 9.6% in June — the lowest level since before the start of the financial crisis in 2009 — and down from an upwardly revised 11.4% in June 2023. The number of employed persons, according to the Hellenic Statistical Authority, rose to 4,293,899, an increase of 79,229 compared with June 2023. The total number of unemployed fell to 456,663, a decrease of 85,865 compared with one year earlier.
- Investment Inflows – Greece saw an estimated €5 billion inflow into shares and bonds as a result of the country’s return to investment grade status last year. According to a study published in the latest Economic Bulletin of the Bank of Greece, from the fourth quarter of 2022 to the third quarter of 2023, Greece received €2.9 billion in foreign investments into shares and €2.1 billion into bonds.
- Tech Nation – Entrepreneur support network Endeavor Greece has launched a new website — Innovation Nation — to promote Greece as an innovation hub. The website features global news and insights, inspiring stories from Greek tech entrepreneurs, detailed guides on investment, relocation, setting-up business, incentives and visa options for foreigners, and a list of upcoming events in Greece. The initiative is supported by the Ministries of Digital Governance, Foreign Affairs, Development, Tourism and Culture, as well as Enterprise Greece and other organizations.
- Solar Power – The European Investment Bank has agreed to provide €390 million in financing to natural gas provider DEPA Commercial to support the development of 800MW of solar projects across the country. EIB will provide funding to cover 75% of the cost of photovoltaic sites in western Macedonia, Thessaly, and central Greece. The estimated total budget for the projects is €521 million.
- Hospitality Forum – Greece will host the Resort & Residential Hospitality Forum (R&R), Europe’s only resort-focused investment conference, for the next three years. The next event is scheduled for November 18-20 and is sponsored by Enterprise Greece. According to Greek travel industry think-tank INSETE, a total of €12 billion have been invested in Greece’s tourism sector over the last three years, mostly in hotels and in the high-end of the market.
- Land Registry – The Greek government is developing new legislation governing the operation of the national land registry with the aim of completing the cadastral survey by 2025. The bill foresees the use of Artificial Intelligence to expedite legal checks, and cuts bureaucracy by making it easier for property owners to make minor updates to their status.
- Fighter Jets – Greece has signed a Letter of Offer and Acceptance to procure 20 next-generation Lockheed Martin F-35 Lightning II aircraft for $3.76 billion as part of a sweeping defense modernization program. The LOA also includes an option for 20 additional aircraft. Deliveries of the aircraft will begin in 2028 and are expected to run through 2033.