According to the latest Bank of Greece data, net Foreign Direct Investment inflows during 2017 reached € 3,2 million vs. € 2,5 million during 2016, an increase of 28 %, marking a record for the last decade.
Investment activity in Greece originates primarily from companies in major markets such as the EU. Germany (primarily) and France are the top source countries of investment capital during this period (2007-2017), by a large margin, mainly due to the investment of Deutsche Telecom in OTE and the acquisition of Greek banks by French ones, during prior to the beginning of the crisis.
Switzerland, USA, Canada and China (including Hong Kong) also belong to the top ten source countries of foreign investment in Greece during the last decade, increasing significantly their investment presence during the last few years. Companies from China, Great Britain and Italy invest primarily in infrastructure and tourism.
The Chinese shipping company Cosco has bought 51% of Athens' port Piraeus. China Energy Investment Corporation, one of the world's largest energy companies, has been investing in renewable energy since July 2018. The Italian state railway company bought the Greek trainose in 2017 and is expanding the infrastructure network, especially to Italian ports. The world's largest tourism tour operator Thomas Cook is going to invest € 150 million in the Greek market in 2018. The tourism industry is the driving force.
50 % of all funding under Greece’s development law has been channeled into tourism ventures, while more than 400 investment plans have been submitted in the last three years to the tourism ministry, said Secretary General for Tourism Policy George Tziallas speaking at MIPIM property market event held in Cannes. The dynamic growth of tourism is stimulating investment activity in Greece, which can in turn create jobs and new opportunities for local communities.