Three in four business investors see Greece as the strongest prospect in Europe

More people believe that Greece’s attractiveness as an investment destination will improve over the next three years, than they do other major countries in Europe.

It sounds stark when you put it like that, but that is the truth nonetheless as revealed by an insightful report published by Ernst & Young last week.

In total 75% of the 250 foreign business executives interviewed for the survey singled Greece out as the place they had most faith in as a rising investment destination.

That was more than Europe as a whole (64%), France (63%), Italy (59%), and the UK (49%).

To underline what an extraordinary turnaround this is, EY highlight that cumulatively, the investment projects of the last two years represent 24% of total foreign direct investments over the last 22 years.

So this story of transformation is not the glacial kind, not one of incremental change. It is a torrent, it is happening right now, and the smart business-people can see it with their own eyes in every new sign that reconfirms it – Greece paid off its entire financial crisis loan from the International Monetary Fund two years ahead of schedule, amidst the pandemic it had six consecutive quarters of growth, two consecutive upgrades to its credit rating, soaring exports and record inward investment.

This is all the more stunning when you think, one, about where Greece was after the dark days of the economic crisis in 2008, and two, when you think about the circumstances of global instability right now in which people took part in this survey.

Despite the hangover from the pandemic, the war in Ukraine, rising inflation, a looming global recession, supply chain instability, and the food crisis, the people who know what a safe investment looks like are picking Greece.

What it means in real terms is also set out in the EY report with 37% of companies saying they have plans to establish a presence here. They are following in the footsteps of major global players like Microsoft, Amazon and Volkswagen all who had the wherewithal to spot this undeniable trend early.

All of them have seen what EY confirm, which is that Greece has a pack of natural advantages running from quality of life, the transport & logistics infrastructure, the telecommunications and digital infrastructure, its domestic market, as well as skills and availability of the workforce.

Once again, this ancient nation has shown its ability to re-imagine the future, and that it has the energy and momentum for those looking to invest big.