Foreign investors' attitude towards Greece remains positive despite COVID-19 crisis: survey

Source: Xinhua| 2020-07-16 02:45:11|Editor: huaxia

ATHENS, July 15 (Xinhua) -- Despite the COVID-19 pandemic which forced foreign investors worldwide to adopt a "wait and see" approach, attitude towards Greece remains positive, in particular among those who have already invested in the country and are well aware of its comparative advantages, according to a survey presented on Wednesday during an online forum in Athens.

Greece has improved its performance in terms of attracting investment, ranking 29th in 2019, up from 35th in 2018, according to the Ernst & Young (EY) Attractiveness Survey Greece 2020 which was presented by Panos Papazoglou, EY Managing Partner in Greece, during the opening session of the "3rd InvestGR Forum 2020: Greece in the Pole Position."

Moreover, 69 percent of the 203 respondents participating in the survey carried out in the period May 22-June 9 expect that the country's image as an investment destination will continue to improve over the next three years, according to an EY press release.

The survey sampled managers of major foreign companies, including 111 operating currently in Greece.

The 50 percent of participants said that they will not be altering their investment plans, 28 percent paused their plans temporarily, and only 6 percent have canceled their plans.

The 62 percent of investors, compared to 50 percent last year, believe Greece is currently following an attractive investment policy, according to the findings.

Quality of life, telecommunications infrastructure, and the level of local labor skills are seen as the main elements of the country's attractiveness, while for a growing number of companies, climate change and sustainability policies, and a steady socio-political environment are also positive considerations, Papazoglou noted.

The country's effective management of the COVID-19 crisis seems to have also helped improve its image, Andreas Yannopoulos, organizer of the two-day forum stressed.

Among the respondents, 77 percent gave high marks to Greece in addressing the public health crisis.

With regard to the type of planned investments, 52 percent of investors now name tourism as the main driver of growth in the coming years for Greece, down from 69 percent last year, and 26 percent see opportunities in manufacturing projects, up from 9 percent in 2019. Enditem