Greece: A Value Proposition

From its prized human capital and low asset prices across to its leaps into the digital era, Greece can stand its ground against international competition, says Georgios Filiopoulos, CEO of Enterprise Greece, as new investment opportunities unravel in multiple sectors.

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Main Conclusions:

  • While Greece’s strategic advantages remain the same, the country’s bolstered international image is a reflection of the government leadership that is leading the country into the future.
  • Greek exports played a pivotal role in Greece’s recovery from the decade-long debt crisis, and are poised to become even more important as the country’s economy overcomes the effects of the coronavirus pandemic, with a focus on new international markets including the Middle East, Asia, and sub-Saharan Africa.
  • With widespread government digitisation having been an unexpected – albeit positive – consequence of the coronavirus health crisis, Enterprise Greece is seizing the moment to go fully digital, having inked a partnership with eBay that aims to enable SMEs to transition into the world of e-commerce.

The fundamental advantages that Greece offers to investors remain the same. Great asset prices – undervalued in many sectors. The strategic location of the country at the crossroads of Europe, Asia and Africa. Top notch human capital. And as we saw currently during the crisis, a great management team that dealt very effectively with a major international crisis. And you can only imagine how well we can do with minor problems that relate to investments if we were able to deal so effectively with such a major crisis.

Greece is a very competitive country. Greece can stand its ground against international competition. Exports here were instrumental in getting Greece out of the financial crisis. And we plan to keep this momentum for the future.

We keep focusing on traditional target markets for Greek exporters. For instance, Germany, the United States, the United Kingdom. We would like to focus more on the Asian markets, particularly China, but on other markets as well, like, for instance, Indonesia, Vietnam, Malaysia. These markets have shown great growth the past few years. Greece has traditional ties with Middle Eastern countries and we have stronger trade relations with these countries. And we would like to explore opportunities in sub-Saharan Africa. It’s a region with a great potential and we expect to see very important developments, trade wise there in the next decade or so.

Greece performed surprisingly well during the pandemic in the digital field. The government initiated more than 500 new digital services and the pandemic has forced us all to utilise new digital tools in order to promote business and boost exports. Now we have set up a goal that by the end of this year, Enterprise Greece will be fully digital.

Enterprise Greece has created a bouquet of new digital services for Greek exporting companies. Just to name a few: the participation of Greek companies and major e-commerce platforms, webinars for target markets for Greek exporting companies, webinars for the right utilisation of digital tools for export promotion.

We have conducted a series of webinars for investors and actually we were able to attract a large number of potential investors via these webinars. Digital guide for Greek products, digital B2Bs that substituted the absence of physical B2Bs, and I do believe that SMEs can greatly benefit from these tools not only for the duration of the pandemic crisis, but also when we return back to normalcy, because digital tools enhance the ability of SMEs to conduct business abroad, and they greatly assist them in the expanding to more global markets and they can do this for a lower cost and they can do this to a greater number of countries, as current research has shown.

I’m proud to announce here that we formed a partnership with eBay and this partnership will greatly assist Greek SMEs to be part of this very successful e-commerce platform. And this partnership also ensures that the Greek companies that will decide to participate will get the full benefits of a training program that will make sure that they will become successful traders in e-commerce.

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