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Greece Market Report


Breaking the Cycle of Boom and Bust


After a decade of austerity and crisis, Greece is showing signs of sustained growth, powered by tourism, real estate, and shipping. Yet while investment projects like the Athens Riviera skyscraper highlight new confidence, many Greeks still face stagnant wages, rising living costs, and fragile public services.


Greece appears to be entering a period of sustained growth, marking a significant departure from its traditional boom-and-bust cycle. Driven by strength in real estate, tourism, and shipping, the country is, at least on paper, steadily eking its way forward. Development on a stretch of wasteland on the


Athens Riviera has become a symbol of Greece’s burgeoning economy and the country’s renewed appeal as an investment location. Some say the 200m skyscraper development


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in Elliniko, which will feature a 50-floor beachfront apartment complex, integrated casino resort and entertainment, is a sign of better times. Others say it is just a luxury project for the rich and for- eigners, whilst Greeks are still struggling with low living standards. Although unemployment has fallen, wages and pensions have barely increased, whilst inflation means living standards, schools, hospitals, and public transport have not recovered from the years of debt.


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