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Greece attracts investments from tech giants and becomes an emerging technology hub

Greece attracts investments from tech giants, confirming its role as an emerging tech hub in the Eastern Mediterranean.

Several major tech multinationals have been investing in the sector of cloud computing services, confirming Greece’s role as an emerging technology hub in the Eastern Mediterranean.

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.

The €2.2 billion investment is expected to create 20,000 jobs by the end of the decade and follows recent data center investments by Microsoft, Amazon, Digital Realty and Lancom. Greece now boasts 18 data centers in total: 11 around Athens, five around Thessaloniki, and one each in Crete and in the central region of Thessaly.

In the last five years, Greece has undergone a profound digital transformation, embracing technology, building new ICT infrastructure, adopting widespread e-government services and online commerce. A vibrant tech startup scene has also emerged, drawing more than €500 million in investments last year.

To cement its role as a digital hub, Greece has been building out its communications infrastructure. In July, Greece signed a deal with Saudi Arabia to develop an €800 million high speed data cable – the East to Med Data Corridor – that will help establish Greece as a digital gateway to Europe.

Greece is also one of the first countries in the world to begin licensing 5G spectrum with more than half the population already covered. Some €415 million in European Union funds have been allocated to broadband infrastructure in Greece, and €700 million has been budgeted for ultrafast broadband infrastructure. By 2023, it is projected that Greece’s mobile network operators will have invested about €3 billion in upgrades.

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