Despite its troubles through the Global Financial Crisis (GFC) and beyond, Greece is still a viable FDI location. Incoming FDI is mainly from EU member states (Germany, Luxembourg, the Netherlands, France, Italy and Belgium), and EU investments account 75-80% of total FDI. Hong Kong, Canada and the United States lead it’s non-EU investors, and FDI mainly goes to trade, information and communication, trade / maintenance, transport / storage, electricity and gas, and real estate. In 2020, Greece liberalised its electricity market and reformed its renewable energies licencing procedures, attracting considerable energy sector investment from Spain, France and China.
Post GFC, Greece undertook deep economic and work market reforms, and greatly improved its financial management, though it still suffers from a lack of consumer confidence and liquidity issues. High public debt also remains, along with bureaucracy, inefficiencies, and expensive regulations. It’s Ease of Doing Business ranking slipped seven places from 2019 to 2020, leaving it at 79/190.
Greece’s traditionally strong shipping/logistics sector and huge tourism market have both been hit by COVID-19, though the long-term prospects for both remain strong, and provide investment opportunities in upgrading / updating related infrastructure.
AUXADI can become your ideal investment partner in Greece. From our office, located in Greece, we offer a One Stop Shop value added Outsourcing services in the areas of Accounting and Reporting, Tax Compliance, Payroll Management and Representation services, among others.