Greece sees growing investments from major multinationals
From leading hospitality groups to energy titans to technology giants, the growing number of major multinationals that are investing in Greece underscores the country’s increasing competitiveness as an investment destination.
Over the last five years, Greece has become one of the most attractive investment destinations in Europe and beyond. This has been reflected in the steady, year-on-year increase in foreign direct investment but also, significantly, in the quality of the investors placing a bet on Greece’s transformation.
Over the last several years, some of the world’s largest companies – including more than a dozen in the Fortune Global 100 list – have invested in Greece or in Greek companies. Global giants – such as Microsoft, JP Morgan, Mondelez and Amazon, among others – are investing in Greece and Greek companies. Just in the last six months alone, Greece has also welcomed new blue chip investors like Google, Goldman Sachs and Chubb.
Since the country’s exit from special European oversight in August 2018, Greece has continued to press ahead with reforms and business-friendly policies. These efforts have brought about a steep change in investment trends, with FDI last year hitting a new record, according to the latest available data.
In late December, the Economist magazine named Greece as the top economic performer for 2022 among 34 advanced economies around the world. The Economist ranked countries according to five key indicators, with Greece faring best with its high growth, narrow inflation pressures, declining debt-to-GDP ratio and its outperforming stock market.
Recently, a new survey by international consulting firm Deloitte also named Greece as one of the Top 10 investment destinations in Europe for the hospitality sector. Likewise, a separate survey by EY from late last year ranked Greece among the Top 20 most attractive markets in the world for renewable energy investments.