Many people know Greece as the Hellenic Republic, Hellas, or Ellada. Greece’s history is one of the richest in the world. Bulgaria, Albania, and North Macedonia share borders in the north, and on its eastern side lies Turkey and the Aegean Sea. The Cretan and Libyan Seas border the south, and the Ionian Sea the west.
This country consists of the mainland and about 3,000 islands, the largest of which is Crete, followed by Rhodes and Lesbos. The minor islands include Cyclades and Sporades.
Because Greece is mountainous, it has cold climates. It also has its share of natural hazards. For example, it gets earthquakes, wildfires, droughts, and sometimes floods.
Most of the Greek population is urban. Some agencies consider it a developed country, while others give it the “developing” status. So, people are left to judge, using measures such as the fact that the entire population can access drinking water and good sanitation facilities. The public sector, tourism, and health care make up most of Greece’s GDP.
A rapid increase in aging will pressure state resources in the next decade or so. For instance, experts are expecting increased health care costs.
Greece produces much of the marble made globally. This fact is evident in their architecture everywhere.
Agriculture is also important in Greece. Cotton, olives, figs, pistachios, tomatoes, and tobacco are a few of the many crops grown in Greece. The sea sponge is also a product found on the island of Kalimnos.
Tourism makes up about a quarter of GDP. Greece is a highly visited country: one of the most popular in Europe and globally. Minerals mined in Greece include zinc, lead ignite, magnesite, bauxite, and petroleum. Mineral fuels, metals, and industrial minerals are the result.
The top earners of the population earn six times as much in salary as the lower earners. After the Great Recession of 2009, Greek consumers changed their spending habits. For instance, they began making better buying choices.
Instead of buying new products, consumers are repairing old ones. This strategy helps with their savings and increases their purchasing power. Goods high in protein are also high in demand. Why? Because Greeks are choosing healthier lifestyles.
These consumer actions are an easy way for new companies to measure their success. Health foods, local wines, and beverages, even electronic repairs are also in demand.
Reasons to grow your business in Greece.
As a European Union (EU) member, Greece’s economy is showing signs of expansion. It is pushing ahead of those of other EU countries. The country has made changes to its wages, taxes, and employment systems. Spending power will now increase with stability. Thus, as stability increases, so will the opportunities for foreign investments.
Greece’s rich history, warmth, and hospitality are its best traits. These traits can prove inspiring to a tourism developer. Additionally, other businesses will fall in line and also see growth and success.
The country has a low cost of living compared to other European countries. Thus, even with a low income, one can enjoy a life of quality. So, one investment idea is healthy foods. Greeks are serious about their diets. Therefore, the availability of fruits and veggies makes a healthy lifestyle affordable.
About Market Research in Greece
Does Greece sound like the ideal place to grow your business? Do you think your business can survive in a market that is crying out for investments, local or foreign?
Tracking Greece’s economic development, such as current trends, would be a great idea. You can also look at its economic growth rates while you decide. We can do that for you and more. Additionally, we provide you with the reliable data that you need from our research. Our research methods include Qualitative, Quantitative, and Strategy Research.