Newsletter View

Newsletter February 2010


Invest in Greece in Australian Market

A delegation of Invest in Greece representatives visited Australia to present investment opportunities in tourism, real estate, renewable energy sources and technology to Australian investors.

For the first time, representatives of Invest in Greece visited Australia from November 30 to December 10, 2009, and held meetings and events in Perth, Sydney and Melbourne. The mission was held within the framework of the business plan for foreign direct investment attraction into Greece.  The Invest in Greece delegation included specialised staff in the tourism, real estate, RES and technology sectors, who were accompanied by the economist Dr. P. Athanasoglou. The delegates held three investment seminars, in cooperation with the Greek Embassy in Canberra and the Greek –Australian Commercial & Industrial Chamber.

More than 200 businesspeople and members of the federal and central government attended the seminars. Also present was the Greek Ambassador to Australia, Alexios Christopoulos, and the Consuls General from Sydney and Melbourne. One-on-one meetings were held to discuss investment opportunities in RES, tourism, waste management and ICT. Successful Australian investments in Greece were presented.

The Australians showed particular interest in the PV and geothermal sectors due to Greece’s high feed in tariffs for electricity from RES and attractive investment opportunities in geothermal and solar power.

The development and management of marinas was another sector in which investors focused.  High quality human resources were highlighted and the Australians were pleasantly surprised by the high level of talent and competitive labour costs. “I had no idea that Greece has such a pool of talented people. Unfortunately, we had no idea of this great opportunity when we established our businesses in Estonia.  However, we are determined to take advantage of this in our next business expansion,” said a high level executive from an Australian computer technology company.

The Australian economy has proven to be resilient in the global economic downturn. Based on exports of natural resources and strong activity in real estate, the Australian economy is not expected to shrink in 2010.