Source: OECD Economic Outlook: Statistics and Projections (database).
Greece has rolled out enticing programs for those looking to invest or relocate their tax residence. As a proud member of both the EU and the eurozone, Greece offers its citizens, investors, and visitors a stable and secure environment.
Additionally, you can benefit from seamless travel across the Schengen Area, bask in the Greek sunshine, and explore its stunning natural landscapes and historical landmarks.
The Greek Golden Visa program has granted nearly 30,000 residence permits to non-EU citizens and their families. These investors can reside in Greece without time restrictions, access the Greek education and healthcare systems, and travel freely across the Schengen Area.
Additionally, Greece's non-domicile tax regimes provide a range of tax incentives for foreign investors and pensioners who transfer their tax residence to Greece.
Greece is a secure place to reside. As an EU member and a parliamentary democracy since 1843, it offers quality infrastructure and services for both residents and visitors.
Being part of the euro area, Greece benefits from economic stability and the advantages of the EU's single currency.
Greece's strategic geographic location at the crossroads of three continents makes it a natural gateway to Europe from the East.
As a member of the Schengen Area, Greece ensures free movement for EU citizens and Schengen Visa holders across all Schengen States.
Greece is renowned as a premier tourist destination, offering a unique blend of features and benefits:
• Breathtaking natural beauty: Ideal for nature enthusiasts, Greece boasts mountain, seaside, and island destinations. Visitors can explore national parks and protected areas.
• Superb weather: With a warm Mediterranean climate, Greece enjoys the highest rate of sunshine in Europe.
• Mediterranean diet: Greek cuisine is based on a balanced, healthy diet, offering a wide variety of delicious dishes for meat lovers, fish enthusiasts, and vegetarians alike.
• Rich culture: With a long and significant history, Greece is home to numerous archaeological sites, monuments, and museums. It offers educational trips, pilgrimages, and excursions to study the natural environment, folk art, and culture.
• Vibrant entertainment: From theatrical productions and festivals to concerts and the famous Greek nightlife, there are plenty of options for entertainment.
Greece’s economic growth outpaced the euro area average over the last three years (Figure 1). Support measures protected households and businesses against high inflation, while the public debt-to-GDP ratio declined significantly. Growing disbursements of the Recovery and Resilience Funds, gradual disinflation and continuous employment gains are expected to support growth from 2024 to 2026.
Growth moderated from 5.7% in 2022 to 2.3% in 2023. Inflationary pressures related to Russia’s war of aggression against Ukraine have restrained private consumption. Tighter monetary policy has led to a deterioration in financing conditions, but EU Recovery and Resilience Funds, a sovereign credit rating upgrade and improving bank health have supported investment. Fiscal support, amounting to 1% of GDP in 2023 and being phased out in 2024, limited the impact of high inflation on households and firms. Headline inflation has declined from high levels but core inflation remains sticky. Wages have picked up in late 2023, supported by minimum wage hikes and growing labour shortages.
SPECIAL FEATURE: BOOSTING FIRM GROWTH AND INNOVATION
Figure 1. GDP growth has been strong
Real GDP, Index, 2019Q1=100
Source: OECD Economic Outlook: Statistics and Projections (database).
Real income growth, a mild improvement in the global economic outlook and increasing disbursements of European funds will support growth over 2024-26 (Table 1). The recovery of external demand will allow exports to gain momentum. Further improving bank health and growing support from EU Recovery and Resilience Funds will allow credit and investment to pick up. Growing real wages and sustained employment gains will support household disposable incomes, consumption and investment. Unemployment is expected to decline further.
Table 1. GDP growth will pick up
Annual growth rates, %, unless specified
Source: The Organisation for Economic Co-operation and Development (OECD), 5th December 2024
Read the complete survey here:
https://www.oecd.org/en/publications/oecd-economic-surveys-greece-2024_a35a56b6-en.html
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