Greece: The Phoenix rising from its ashes
Laden with debt it couldn’t pay back, the country nearly broke the eurozone a decade ago. Today, it is one of Europe’s fastest-growing economies, with opportunities across the board, and with its investment grade badge back on, investors start to pay attention
After a decade of austerity measures, strenuous reforms and heartbreaking sacrifices for its population, Greece is finally back on its feet, and received its holy grail this October: a credit rating upgrade by one of the three major rating agencies, Standard & Poor’s.
The Hellenic economy is growing at twice the eurozone average, and despite the horrendous climate events that shook the country in the summer months, 2023 should stand as a record year for its tourism industry, with the influx of visitors fueling a new construction and real estate boom. Yet, for the Government of Prime Minister Kyriakos Mitsotakis, who reconfirmed his popularity in June’s elections, the time is not for complacency.
Under his leadership, the country must keep the momentum and retain investor confidence. Determined to push the reform agenda, attract foreign investment, create jobs and inclusive growth, while continuing the path of modernization, Prime Minister Mitsotakis has boldly stated that Greece is facing “an historic window of opportunity” owed to a combination of the right economic policy and political stability.