Boost your business in Greece with professional translations
The public image of Greece has suffered greatly from the scandals and affairs that came to light in the wake of the financial and economic crisis. However, no one should reduce the Southern European country to a symbol of corruption and nepotism. If you subject the Hellenic economy to an analysis that goes beyond the clichés and platitudes, a much more nuanced picture emerges.
Greece offers much more than just olive oil and tourism. In addition to the current reform efforts, the search for investors is at full tilt, and as a result, Greece offers favorable investment opportunities. Still, the structural change won't happen overnight. This means that projects in Greece are more suitable for medium to long-term partnerships.
If you're planning to do good business in Greece, you'll no doubt need translation services. Our native-speaking, professionally trained translators translate your business correspondence, brochures, and financial statements into Greek and from Greek.
Strengths of the Hellenic economy
Today's Greek economy is the result of a structural change begun in the 1970’s that made an industrialized country out of the previously agriculture-centered country. Nevertheless, the share of agriculture in the GDP is still higher than in the Central European countries, especially in the production of wine, olives, tobacco, and vegetables.
Furthermore, fishing and fish farming play a key role in the richly coastal country of Greece. The service sector is benefitting from the tradition of seafaring, as Greek ship-owners operate almost 20% of the global traffic of ships of over 1,000 GRT. Numerous tax benefits are incentivizing the development of merchant shipping, which has seen positive growth during the crisis. These tax relief incentives also have a downside, however, as they reduce the ship-owners’ contribution to the country's tax revenue.
Another area of the services sector is banking, which is appreciated as a lender in other Southeast European countries (for example, in the former Yugoslavia).
Experts say industry and the manufacturing sector will play a crucial role in the course of Greece's economic recovery. In this sector, in addition to major corporations, there is also a strong SME sector, which operates in fields such as chemistry, mechanical engineering, and textile production.
At present, the Greek energy economy is still considered to be a "sleeping giant". There are numerous oil and gas reserves on Greek territory, and the proceeds of these could bring in revenue of more than 100 billion euros. But the sunny country also offers great potential for renewable energies.
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