- Greek GDP – The Greek economy grew 2.2% on year in the first quarter, according to provisional data from the Hellenic Statistical Authority, broadly in-line with estimates. The Greek government and the Bank of Greece both forecast 2.3% growth this year, the same as the recently released European Commission Spring 2025 Forecast. In its latest Economic Outlook report, the OECD forecasts Greek GDP growth at 2.0% in 2025.
- Property Prices – Prices for Greek residential properties rose 6.8% on average in the first quarter compared with a year earlier, according to provisional data by the Bank of Greece, and were up 2.7% on a quarter-on-quarter basis. Home prices in Greece have now returned to their 2008 pre-crisis peak, say market analysts, after climbing 8.9% in 2024.
- Short-term Rentals – Greece’s short-term rentals market continues to see strong growth with the number of available beds exceeding 1 million as of April. The figure represents a milestone, according to the latest bulletin from tourism industry think-tank INSETE, which notes that the threshold was reached three months earlier than last year. “It is noteworthy that for the first time in 2025 the number of available beds exceeded 1 million as early as April, while last year the corresponding threshold was only reached in July, which is also a peak month for tourism,” INSETE said.
- Conference Tourism – Athens has been named one of the world’s Top 10 destinations for conference tourism for 2024, according to the International Congress and Convention Association, hosting 111 international conferences last year. In 2023, Athens hosted 88 conferences and was ranked 15th in the world.
- Crete Power Cable – Operations have successfully begun on a new 1GW high-voltage subsea power cable connecting the island of Crete with the power grid of mainland Greece. The €1.1 billion project, in conjunction with a second, lower-voltage power line already in operation, will end the island’s energy isolation and will result in cost savings of €550 million with the decommissioning of Crete’s current, oil-fired power plant.
- Bank Investment – Italian banking group Unicredit, one of Europe’s largest banks, has raised its stake in Alpha Bank to 20%, reflecting growing international confidence in Greek banking sector assets. The Italian banking giant first acquired a 8.97% stake in Alpha Bank in November 2023.
- Brain Regain – Almost two-thirds of Greeks who left during the country’s financial crisis have come back, according to Minister of Labor and Social Security Niki Kerameus. Citing Eurostat data, the minister said that of the 659,547 Greek citizens who left the country between 2010 and 2023, 422,688 have returned.
- Tennis Star – Prime Minister Kyriakos Mitsotakis met with tennis superstar Novak Djokovic in Athens amid reports that the Serbian player was looking to establish permanent residence in Greece. The recent visit by Mr. Djokovic to the Greek capital underscores the growing appeal of the country as a destination for celebrities and high net worth individuals.
- Greek Language – The Executive Board of UNESCO has endorsed the establishment of February 9 as World Greek Language Day. This recognition highlights the enduring legacy of the Greek language, which has shaped global thought in science, philosophy, medicine, and the arts for over 2,800 years.