Foreign Investors Line Up to Put Their Money on Greece

ATHENS – Putting the COVID pandemic behind him to concentrate on an economic recovery, Prime Minister Kyriakos Mitsotakis’ push to bring in foreign investors is finding greater interest on them willing to take a chance.

Optimism is growing about Greece being an attractive investment opportunity, said a survey by EY Greece, at the same time that luxury resort and 5-star hotel operators are jumping in too.

Curiously, while there was a record number of Foreign Direct Investments (FDI) in 2020 when the Coronavirus hit and nearly shut down international travel, it fell back in 2021.

But the EY Attractiveness Survey Greece 2022 poll indicated that was still the second-highest in the previous 22 years and the trend looks to be continuing despite uncertainty about how long the pandemic will last.

What’s holding back some investors, apart from the attempt to improve a slow Internet, is a lagging education system that doesn’t prioritize excellence, high taxes, not enough support for high-tech strengthening small and medium-sized enterprises, it said, reported Kathimerini.

The results were presented at the fifth InvestGR Forum that found 30 FDI’s carried out in 2021, although it’s only 0.51 percent for all of Europe, among 51 countries in the survey.

Cumulatively, the investments of the last two years represent 24 percent of all investments made since 2000, showing it’s a recent phenomenon as Greece had long before that struggled to attract business reluctant to deal with a notorious bureaucracy, corruption and political volatility.

The survey carried out on a sample of 250 executives of foreign companies between March 15-April 15 showed that in 2021 that 30 percent of investments were in headquarters, 20 percent in industrial activities, and 17 percent for sales and marketing offices.

The top sectors where investments were directed in 2021 were agri-food (20 percent of investments), transport and logistics (20 percent), and software and IT services (17 percent) the report also added.

The percentage of companies planning to invest or expand their activities in the next year is rising, reaching 37 percent in 2022 from 34 percent last year and 28 percent in 2020.

Most respondents – 75 perent – felt Greece was a desirable spot for investing in the long run, far above the 64 percent average for Europe although 58 percent –  4 percent lower than 2021 – felt the country’s business image has improved, the drop seen tied to worries over Russia’s invasion of Ukraine and impact.


ATHENS - There was keen investor interest in acquiring a 27 percent stake in Piraeus Bank from Greece’s bank bailout fund, which was oversubscribed as it will be the third of the country’s four biggest banks to be fully privatized.

Top Stories


A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.


Nikki Haley Wins the District of Columbia’s Republican Primary and Gets Her First 2024 Victory

WASHINGTON (AP) — Nikki Haley has won the Republican primary in the District of Columbia, notching her first victory of the 2024 campaign.

WHITESTONE, NY – Holy Cross Greek Orthodox Church in Whitestone celebrated its 49th anniversary with a luncheon following the Divine Liturgy on March 3.

‘Apokries’ or Carnival features merriment and meat-eating before the start of Great Lent.

Books of every kind are sent in to the offices of The National Herald, showcasing the impressive range of experience and interests of Greek authors wherever they happen to live.

BALTIMORE, MD – The law firm of Peter Angelos was sold to three of the firm’s longtime senior attorneys on March 1, as ordered by a Baltimore County Circuit Court judge, The Daily Record (TDR) reported, noting that “Judge Keith R.