JP Morgan is bullish on the Greek economy, highlighting its medium returns and low risk, in the investment bank’s latest global markets analysis.

The report underlines the Greek economy’s dynamic, justifying an overweight stance in the investment sector.

In its analysis, JP Morgan reiterates points presented in its previous report: capital returns from Greek banks—driven by dividend yields of 10% and share buyback programs—as well as the projected 2% GDP growth, remain key catalysts. The report notes that the country is less exposed to tariff-related risks, given that tourism continues to be its main export sector.

Although Greece trades at a significant market discount, it remains an attractive choice for investors with a moderate to low-risk profile. The expected growth and positive outlook for the banking sector make Greece one of the more appealing destinations in Europe for investment—particularly when considering its lower exposure to tariff risks compared to other countries.

According to data from Datastream and J.P. Morgan Economics Research (July 2025 estimates), valuations across European countries show some divergence depending on the country.

Greece remains at a particularly low valuation relative to the eurozone (EMU) average, trading at a 32% discount for 2024 and a 34% discount over the long term.

Profit estimates for Greece point to a positive trajectory, with EPS growth projected at 12% for 2024 and 38% for 2025. The estimated GDP performance, combined with the favorable sentiment toward banks, signals steady economic growth in the years ahead.

In addition, projections in the Eurozone indicate that despite its challenges, the Greek economy remains one of the most stable and competitive regions for investments, largely due to its dynamism in the tourist sector and reforms in the banking sector.