EDITORIAL /
Our View: Virtuous Cycle
CEO, Enterprise Greece
Greece’s economy continues to outpace the rest of the eurozone but, just as importantly, are the drivers behind that growth. After years of reform and sacrifice, the transformation of the Greek economy is now manifest. Greece’s economic growth is now largely driven by rising investment and growing exports.
In the past five years, Greece has experienced the most rapid growth in investment within the European Union, with Foreign Direct Investment playing a central role. Since 2019 – the year after Greece left special oversight – the country has attracted more than €40 billion in FDI, exceeding the inflows recorded over the previous two decades combined.
The majority of incoming FDI spans across sectors, including tourism, logistics, energy, manufacturing, technology, financial services, pharmaceuticals and professional services. This reflects both the growing confidence in Greece’s long-term prospects and the diversification of the economy.
Exports have also been booming. Today, exports account for more than 40% of GDP – double their ratio before the financial crisis. Tourism and shipping remain pillars of Greece’s external performance, but increasingly, exports are being driven by growth in pharmaceuticals, chemicals, agri-food products, machinery, electrical equipment, processed fuels, aluminum, plastics and energy.
The twin hallmarks of Greece’s growing extroversion – FDI and exports – underscores how the Greek economy has gone through a structural transformation and is poised for a virtuous cycle of growth and development in the years ahead.