Tourism and F&B services are the key areas of interest for investors seeking to place their money in Greece, according to market experts and professionals, who responded to a Metron Analysis report presented at the 1st InvestGR Forum held at the Hilton Athens on Tuesday.
A total of 80 percent of respondents said tourism and food services will attract investor interest to Greece, followed by education (47 percent); agriculture, forestry and fisheries (43 percent); energy (43 percent); and activities related to health and social welfare (43 percent).
According to the same survey, two out of three CEOs said Greece’s reputation as an investment-friendly destination will improve in the next few years; eight in 10 said it is quite / very likely that the companies they represent will decide to invest in Greece in the future; six out of 10 revealed that these investments have been scheduled for next year; one in 10 said their companies would be investing over 100 million euros.
At the same time, the overwhelming majority of respondents (90 percent) said a stable legal, regulatory and fiscal framework was vital for increased investment activity, followed by political stability and security (57 percent), and effective public administration (47 percent).
The data was presented this week during the event titled “InvestGR – Foreign Investments in Greece”, which kicked off with an opening address by Alternate Economy Minister Stergios Pitsiorlas and included the participation of CEOs from leading companies operating in Greece, such as Fraport, Enterprise Greece, the European Investment Bank, Stanton Chase Athens, Eurobank, Athenian Brewery as well as academics, EU and government officials.
Speakers examined whether Greece can become an attractive investment destination and under what conditions, with panel discussions focusing on the key parameters that may influence an investment decision such as regulatory frameworks, taxation, justice, human capital, innovation and infrastructure.
Meanwhile, according to central bank data presented at the forum, Greece achieved the highest foreign direct investment (FDI) inflows in 2017 since the beginning of the crisis at 3.6 billion euros compared to 2.8 billion euros in 2016.
The event came to a close with a declaration of proposals made by CEOs representing foreign companies in Greece, on how to attract FDI and foster an investor-friendly environment in the country.
The 1st InvestGR Forum was made possible with the support of the economy ministry, the European Commission’s Representation in Greece, the Federation of Industries of Northern Greece, Athens University of Economics and Business, and the International Chamber of Commerce.