Blue chip technology multinationals increase their investments in Greece

From leading hospitality groups to large energy enterprises to technology giants, the growing number of major blue chip multinationals that are investing in Greece underscores the country’s increasing competitiveness as an investment destination.

Over the last five years, Greece has become one of the most attractive investment destinations in Europe and beyond. This has been reflected in the steady, year-on-year increase in foreign direct investment but also, significantly, in the quality of the investors placing a bet on Greece’s transformation.

Over the last several years, some of the world’s largest companies – including more than a dozen in the Fortune Global 100 list – have invested in Greece or in Greek companies. Global giants – such as Microsoft, JP Morgan, Mondelez and Amazon, among others – are investing in Greece and Greek companies. Just in the last six months alone, Greece has also welcomed new blue chip investors like Google, Goldman Sachs and Chubb.

As part of the country’s economic transformation and revitalization, Greece has embraced technology and the digital revolution as part of its future. From e-government services to 5G telecommunications, the Greek government realizes that technology is the key to the country’s prosperity.

Recently, technology giant Google announced that it will establish regional cloud services operations in Greece, the latest in a string of investments by the world’s leading technology companies in the country during the last two years.

Since the country’s exit from special European oversight in August 2018, Greece has continued to press ahead with reforms and business-friendly policies. These efforts have brought about a steep change in investment trends, with FDI last year hitting a new record, according to the latest available data.

In late December, the Economist magazine named Greece as the top economic performer for 2022 among 34 advanced economies around the world. The Economist ranked countries according to five key indicators, with Greece faring best with its high growth, narrow inflation pressures, declining debt-to-GDP ratio and its outperforming stock market.

Recently, a new survey by an international consulting firm also named Greece as one of the Top 10 investment destinations in Europe for the hospitality sector. Likewise, a separate survey by another multinational consulting firm from late last year ranked Greece among the Top 20 most attractive markets in the world for renewable energy investments.

Source: Enterprise Greece

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