Greece is no longer seen as a weak link in Europe’s investment landscape. For many international funds and institutional investors, the country is back on the map, offering not only attractive returns but also something increasingly rare across Europe: stability.
According to market insiders, investment momentum shows no sign of slowing. On the contrary, it’s accelerating. Greece’s recent credit upgrades and the prospect of lower interest rates are acting as catalysts. “Not only is appetite for Greek assets not fading—it’s growing,” as one executive put it. Major recent deals, including Intralot’s agreement with Bally’s, OPAP’s collaboration with Allwyn, and Euronext’s acquisition proposal for the Athens Exchange, underscore this trend.
Stability in a Shaky Europe
Vassilis Kazas, CEO of Grant Thornton Greece, believes the country currently enjoys a rare comparative advantage: both political and fiscal stability. “We have political stability that doesn’t exist elsewhere in Europe,” he said. “And fiscal stability, too. While other countries—like France—are running deficits, we’re reducing debt and earning upgrades from rating agencies.”
The Recovery Fund’s Lasting Impact
One of the main engines sustaining investor enthusiasm is the EU Recovery and Resilience Facility. Kazas argues that its growth impact will outlast the direct subsidies. “At some point, the grants will stop,” he said, “but the loans will continue to be disbursed gradually. So, for the next three to four years, we’ll still see growth.”
Greece’s Next Big Investment Frontiers
Several industries are drawing strong foreign and domestic capital flows. These include energy, pharmaceuticals, food production, metals, and the defense sector, which now encompasses cybersecurity.
“These aren’t just global trends,” Kazas explained. They align with Greece’s structural advantages: a strategic geographic position, skilled workforce, and flexibility.
The Challenge: Channeling Capital Wisely
For George Mavridis, chairman of SouthBridge Advisors, Greece remains clearly attractive for investors—and the issue isn’t lack of funds. As he pointedly says there is plenty of money to be found, pointing to banks, private funds, and the Recovery Fund. The challenge, according to Mavridis, lies on Greece investing in sectors where it holds a competitive advantage. It’s no longer about finding capital but about leveraging knowledge and market strengths.
He described a booming market but emphasized that the real goal is to attract private—not just European or state—capital. “We need to move beyond dependence on public funding and focus on traditional private investment,” he said. “We’re entering a new cycle where the entrepreneurs shaping the next 30 years are taking their first steps.”
Tapping into the Greek Diaspora
Marco Veremis, partner at Big Pi Ventures and Chair of Innovation for the Hellenic Federation of Enterprises’, stresses the role of human capital. “We need to pull in talent—especially experienced managers from the diaspora,” he said. “If we can match them with the right companies, growth can accelerate significantly.”
Veremis sees Greece’s global network of expatriates as a unique asset. “The country can become a hub for knowledge and innovation if we bring these people back,” he noted. “In 2010, the U.S. and Europe had roughly the same GDP. Today, the U.S. economy is one and a half times larger. The difference is technology—they took risks. If we want to catch up, we must do the same.”
