ATHENS – Tourism is Greece’s biggest revenue engine, bringing in more than 18 billion euros ($15.06 billion) in 2022 as the COVID-19 pandemic waned, but the construction industry is right behind it and rebounding fast.
The Greece Construction Industry Databook Series – Market Size & Forecast by Value and Volume, Q1 2023 Update report was added to the financial data from ResearchAndMarkets.com, showing construction will pass 14 billion euros ($15.06 billion) in 2023, said Yahoo Finance.
That would be growth of 4.8 percent and showing the acceleration of a key industry in the country that was held down for years, first by an eight-year economic and austerity crisis and then when the Coronavirus struck.
For all those woes, medium to long term growth story in Greece remains intact and the construction industry in Greece is expected to grow steadily over the next four quarters, the report said of the optimism.
The growth momentum is expected to continue over the forecast period, recording an annual growth rate of 4 percent through 2027 when the industry is on line to reach 16.407 billion ($17.65 billion) the report added.