Greece has emerged as a beacon of economic growth, experiencing a remarkable surge in foreign direct investment (FDI) over the past three years, according to the latest Organisation for Economic Cooperation and Development (OECD) report titled “FDI in Figures.”
The report reveals that FDI in Greece skyrocketed from an average of $4.15 billion in the three-year period of 2017–2019 to $6.7 billion in the subsequent three-year period of 2021–2023, representing an impressive 62% growth. This surge aligns with the robust economic expansion recorded in the Greek economy during this period.
Despite a temporary setback in 2020 due to the economic repercussions of the COVID-19 pandemic, FDI rebounded strongly in the subsequent years. In 2021, FDI in Greece surged to $6.3 billion, reaching an all-time high of $8.4 billion in 2022. Although FDI moderated slightly to $5.4 billion in 2023, it remained significantly higher than pre-pandemic levels.
The OECD report defines FDI as encompassing various forms of investment, including equity acquisitions, mergers, the establishment of new production units, reinvestment of profits, and intra-business borrowing.
In addition to inward FDI, the report highlights a substantial increase in outbound investments by Greek companies abroad, signalling the growing strength of the Greek economy. Investments abroad surged from an average of $429 million during 2017–2019 to $2.8 billion in 2021–2023, with further growth observed in 2023, reaching nearly $4.0 billion.
Despite global challenges in 2023, such as economic instability, inflation, and geopolitical tensions, FDI worldwide experienced a decline of 7% to $1.36 trillion. However, Greece’s remarkable performance in attracting investments underscores its resilience and attractiveness as an investment destination.
According to the OECD report, the United States remained the top destination for inward FDI, followed by Brazil and Canada. Greece’s surge in FDI reflects its commitment to economic growth and its ability to navigate global challenges with confidence.
