Greece emerging as favored investment destination: survey

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ATHENS, July 14 (Xinhua) -- Greece's image as an investment destination improved in 2020 compared to 2019 despite the challenges posed by the COVID-19 pandemic, according to 62 percent of respondents to a survey presented here on Wednesday.

Last year, Greece ranked Europe's 23rd most favored investment destination, up from 29th in 2019 and 35th in 2018, according to global professional services network Ernst & Young's (EY) "Attractiveness Survey Greece 2021," which was released during the 4th InvestGR Forum.

The number of foreign direct investment (FDI) projects in Greece rose by 77 percent year-on-year to 39 in 2020 compared to 22 a year earlier. Their total value was 3.1 billion euros (3.7 billion U.S. dollars), according to the Bank of Greece.

Seventy percent of the 253 respondents to the survey said that they intended to proceed with their investment plans, and 57 percent said the management of the COVID-19 crisis in Greece boosted their view of the country as an attractive investment destination.

The most important comparative advantages for Greece's attractiveness are quality of life (78 percent), infrastructure and the level of labor skills.

Eight out of ten respondents said they would invest in the country or strengthen their current presence should Greece further reduce taxes and social insurance costs and improve in innovation and high technology.

According to 51 percent of the investors polled, tourism will remain a strong driver of Greece's growth in the coming years. They also identified opportunities in services, sales, marketing, the digital economy, logistics, energy and manufacturing. Enditem

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