Greece Sees Impressive Rise in Foreign Direct Investments in 2021

Photo source: Visit Greece / Y. Skoulas

Greece is gaining ground as an attractive investor destination recording a 74.3 percent increase in foreign direct investments (FDI) in 2021 despite the insecurity and competition in the midst of Covid-19, the Bank of Greece said.

More specifically, FDI net inflows last year came to over 5 billion euros compared to 2.9 billion euros in 2020 breaking all records since 2002.

According to Enterprise Greece, the state-run investment and trade promotion agency, the news reflects an upward trend of Greek economic growth which is attributed to efforts to attract FDI.

Leading the way in this investment drive is the Greek tourism sector with dozens of hotel and resort projects incorporated into the government’s strategic investment program which foresees fast-track procedures.

“We have worked hard for 2.5 years to rebrand the country and attract investments that will generate strong growth. The Greek tourism industry has already attracted the interest of large investors from around the world. Greece is currently among the top options in Europe for investments in the tourism sector,” said Tourism Minister Vassilis Kikilias during the AXIA Virtual Roundtable on Tuesday.

Demonstrating Greece’s increased attractiveness as an investment destination, the country moved from 23rd spot in 2020 in Europe from 29th in 2019, in the last Ernst & Young (EY) Attractiveness Survey Greece 2021.

“The image of Greece, as an investment destination, has changed dramatically and it is now among the most attractive investment destinations in Europe,” said Georgios Filiopoulos, chief executive officer at Enterprise Greece.