Business in Greece
Greece is strategically located at the crossroads of Europe, Western Asia, and Africa. Greece has the longest coastline on the Mediterranean Basin and the 11th longest coastline in the world at 13,676 km in length, featuring a vast number of islands (approximately 1,400). Greece is a democratic, developed country with an advanced, high-income economy, a high standard of living and a very high Human Development Index.Greece is a founding member of the United Nations, has been a member of what is now the European Union since 1981 (and the eurozone since 2001), and has been a member of NATOsince 1952. Greece’s economy is also the largest in the Balkans, where Greece is an important regional investor.
The economy of Greece is the 34th or 42nd largest in the world at $299 or $304 billion by nominal gross domestic product orpurchasing power parity (PPP) respectively, according to World Bank statistics for the year 2011. Additionally, Greece is the 15th largest economy in the 27-member European Union. In terms of per capita income, Greece is ranked 29th or 33rd in the world at $27,875 and $27,624 for nominal GDP and PPP respectively.
Greece is a developed country with high standards of living. Its economy mainly comprises the service sector (85.0%) and industry(12.0%), while agriculture makes up 3.0% of the national economic output. Important Greek industries include tourism (with 14.9 million international tourists in 2009, it is ranked as the 7th most visited country in the European Union and 16th in the world by the United Nations World Tourism Organization) and merchant shipping (at 16.2% of the world’s total capacity, the Greek merchant marine is the largest in the world), while the country is also a considerable agricultural producer (including fisheries) within the union.
With an economy larger than all the Balkan economies combined, Greece is the largest economy in the Balkans, and an important regional investor.Greece is the number-two foreign investor of capital in Albania, the number-three foreign investor in Bulgaria, at the top-three foreign investors in Romania and Serbia and the most important trading partner and largest foreign investor of the Republic of Macedonia. Greek banks open a new branch somewhere in the Balkans on an almost weekly basis