Prime Minister Kyriakos Mitsotakis’ unwavering focus on economic acceleration and attracting more Foreign Direct Investment (FDI) has yielded remarkable results for Greece, with a 62% increase from 2021-23, translating into a $6.7 billion windfall.

This surge began a year after the COVID-19 pandemic struck, causing significant disruptions to Greece’s tourism-dependent economy, including business closures and a near halt in international air travel. However, the country has since experienced a robust recovery, marked by record levels of foreign arrivals.

Between 2017 and 2019, Greece averaged $4.15 billion in FDI, a figure that dropped to $3.2 billion in 2020. Nonetheless, FDI rebounded to $6.3 billion in 2021, even amidst ongoing health restrictions aimed at attracting more tourists. Although FDI levels dipped slightly to $5.4 billion in 2023, they remained significantly higher than pre-pandemic levels. The Conservative government continues to advocate for increased foreign investment, particularly in 5-star hotels and luxury resorts, with plans to develop public beaches.

These figures, sourced from the Paris-based Organisation for Economic Cooperation and Development (OECD), reflect FDI through equity capital, including acquisitions, mergers, the establishment of new production units, reinvestment of profits, and intra-business borrowing. Additionally, Greek companies have significantly increased investments abroad, rising from $429 million between 2017-19 to $2.8 billion from 2021-23. This surge in exports follows years of limited marketing of Greek products.