ICT Investment Opportunities in Greece
The Greek ICT Sector is one of the most active sectors of the Greek economy, offering opportunities for investments.
VK PREMIUM can provide valuable assistance in the areas of market and sector analysis, opportunity assessment, due diligence, feasibility studies, project valuation, etc.
Short presentation of the active projects and investment opportunities in Greek ICT sector.
Investments in the Greek ICT Sector
The ICT sector in Greece offers several opportunities of investment in high-end, value added services with a global reach, leveraging the availability of skilled labor, the existing know-how and research capabilities, the strong IT and Telecoms infrastructure and the outstanding living and working conditions. Business opportunities such as the establishment of software development labs, or microchip and MEMS design centers, data centers and R&D labs can be established with full state support and staffed with highly qualified available employees so they generate high returns in a very short time.
Overall, the number of ICT business opportunities is expected to increase significantly over the next years driven mostly by:
• the strong requirement to further automate and digitize the public sector, which is driven by several major public procurement projects in the ICT field
• the quick adoption of new technology by the Greek public, including for example new communication devices (smartphones, tablets), broadband telecommunications and smart TV
• the significant growth of technology clusters, incubators, accelerators and VC activity focused on new ventures in ICT, and the large number of entrepreneurs that are actively leveraging this infrastructure, with products such as TaxiBeat and Piniata already succeeding on an international scale
• the several innovation and research activities currently being pursued in Greek polytechnic institutions and public RTOs in such areas as cloud computing, location-based services (LBS), nanotechnology and intelligent systems
- Skilled Workforce – Greek engineers have been included in the top 20 ICT human resources pool globally by the Economist and have topped the ITUICT development index. Also, more than 70% of the Greek population speaks English.
- ICT Infrastructure – Greece can cover all infrastructure needs for a major investment in ICT, including telecommunications (fixed, mobile, data), hosting and server facilities.
- Research and education – Greece possesses an extensive network of Scientific and Technology Parks and Higher Education Centers. During the past years, Greece has seen the development of several new ICT clusters, incubators and accelerators.
- Favorable location – Greece is the EU country with best access to Eastern ICT producers such as China, Japan and Korea. This favorable location, coupled with our logistics infrastructure and skilled labor, make Greece ideal for the establishment of assembly facilities for ICT products and devices.
Main investment opportunities
• Data centers
• Call centers / service centers staffed by English-speaking staff
• Software Product Development
• Assembly and distribution of ICT devices
• Start-up communities and development clusters
|ICT as % of Greek GVA||4,1%|
|Market Turnover||€ 17.1 billion|
|Networks||ADSL, VDSL, some fiber|
|Number of companies in ICT sector||4.500|
|Broadband internet penetration||24%|
|Mobile phone penetration||170%|
|Smartphone sales in 2012||1.5 million|
|Number of ICT startups funded in 2013||29|
|Number of new ICT clusters and incubators launched||8|