Overview of Greek Investment

Overview of Greek Investment

1、 Overview of Greece

1. Geographic location and climate

Greece is located at the southernmost end of the Balkan Peninsula, bordering Bulgaria, Northern Macedonia and Albania to the north, Türkiye to the northeast, the Ionian Sea to the southwest, the Aegean Sea to the east, and the African continent across the Mediterranean Sea to the south. The coastline is approximately 15021 kilometers long, and the width of the territorial sea is 6 nautical miles. Greece has a subtropical Mediterranean climate, with winter temperatures ranging from 0 ℃ to 13 ℃ and summer temperatures ranging from 23 ℃ to 41 ℃.

2. History and Culture

Greece is the birthplace of Western civilization and has a long history. The Minoan civilization appeared on Crete from 3000 BC to 1100 BC, and the Mycenaean civilization appeared on the Peloponnese Peninsula from 1600 BC to 1050 BC. The slave city-state was formed in 800 BC and reached its peak in the 5th century BC. It was incorporated into the Roman Empire in 146 BC and was ruled by the Ottoman Empire in the mid-15th century. The War of Independence broke out in 1821, and a kingdom was established in 1832. In 1974, it was changed to a republic through a national referendum.

3. Political system

Greece implements a parliamentary republic system, with the President serving as the head of state for a term of 5 years, renewable once. The current president is Katrina Sacralopolu, who was sworn in on March 13, 2020. The parliament is a unicameral system with 300 members, elected in June 2023. The New Democratic Party won the election with 40.56% of the vote and remained in power.

4. Economy and Industry

Greece is a moderately developed country with a gross domestic product of 192.1 billion euros in 2022. The economic foundation is relatively weak, and the industrial manufacturing industry is relatively backward, but the shipping industry and agriculture are relatively developed. Greece is a founding member of the United Nations, as well as a member of the European Union, NATO, and OECD.

5. Population and Language

As of 2023, the total population of Greece is 10.532 million, with over 98% being Greeks and the rest being Muslims and other ethnic minorities. The official language is Greek, and Eastern Orthodoxy is the state religion. The capital city of Athens has a population of 3.154 million, making it the largest city in the country.

6. Important Festivals and Cultural Heritage

Important Greek holidays include National Day (March 25th), Easter (the first Sunday after the full moon at the vernal equinox), Anti Italian Invasion Day (October 28th), and Christmas (December 25th). Greece has 18 UNESCO World Heritage sites and is rich in cultural heritage.

Greece, with its unique geographical location, long history and culture, and important international status, has become an important country in Europe and even the world.

2、 Overview of the Greek Economy

The overview of the Greek economy includes the following aspects:

1. GDP and Population: Greece's Gross Domestic Product (GDP) exceeds 240 billion US dollars, with a total population of approximately 10.4 million.

2. Main economic sectors:

Shipping: Greece's total shipping capacity reaches 220 million tons, bringing in over 23 billion US dollars in annual revenue for the country, accounting for 10% of GDP.

Tourism industry: By 2025, Greece will receive 33 million tourists, generate 21.7 billion euros in revenue, and drive a large number of job opportunities.

Important Port: Piraeus Port is one of the most important ports in Greece. In 2024, COSCO Shipping Piraeus Port Co., Ltd. achieved a historic high in both revenue and profit, with a total revenue of approximately 231 million euros, a pre tax profit of approximately 113 million euros, and a post tax profit of approximately 87.4 million euros. The core business sectors of the port have performed strongly, with significant growth in cruise business, automobile terminal business, and container terminal business.

Foreign investment and immigration policies: Greece's golden visa program has attracted a large amount of foreign investment, especially in the real estate sector, leading to an increase in the value of real estate in popular areas. In addition, Greece's economic activity has fully recovered, increasing citizens' purchasing power and liquidity.

3、 The investment prospects of Greece

Greece is generally positive, especially in terms of real estate and sovereign credit ratings. ‌

Positive factors for investment prospects in Greece

1. Global capital influx into the real estate market: In recent years, a large amount of global capital has flooded into the Greek real estate market, especially through the Golden Visa program to purchase real estate. Between 2023 and 2024, the total amount of real estate transactions in Greece has significantly increased, reaching 41.2 billion euros, demonstrating the strong interest of global investors in the Greek property market.

2. Sovereign credit rating upgrade: International credit rating agency Moody's recently upgraded Greece's sovereign credit rating to Baa3, marking the first time since the 2010 European debt crisis that Greece has made significant progress in economic recovery and fiscal improvement.

3. Specific areas and projects of Greek investment

Golden Visa Program: Greece's golden visa program allows investors to obtain residency through investing in real estate or other legal means. Investors only need to invest 250000 euros to obtain Greek residency without residency requirements, making it suitable for busy business people and families who want to flexibly arrange their lives.

Real estate market: The Greek real estate market, especially in core areas such as Athens, has seen a significant increase in housing prices over the past two years, with foreign investors showing strong interest in Greek properties. Athens' housing prices have skyrocketed by 68% in just two years, demonstrating strong demand in the market.

4. Advantages and attractiveness of Greek investment

High cost-effectiveness: The Greek Golden Visa program is known for its exceptional cost-effectiveness, allowing investors to obtain residency through a lower investment threshold and a relatively low cost of living, making it suitable for long-term residence and investment.

Convenient Schengen Area Travel: Holders of the Greek Golden Visa can freely travel through 29 Schengen countries, facilitating international business activities and travel.