News in Brief – January 2024

• Top Economy – Greece was ranked the top performing economy in 2023 for the second year running, according to the Economist newspaper. The ranking of 35 mainly developed economies around the world takes into account five economic and financial indicators, including inflation, GDP, job creation and stock market performance. Particularly noteworthy, said the newspaper, was the 43.8% increase in the Greek equities market last year.


• Golden Visa – Greece’s special residency permit scheme brought €1.5 billion of investments into the country last year, according to an estimate by the Immigration and Asylum Ministry. A report by the website SchengenViasInfo.com said that there was a 117% increase in Golden Visa applications between January and November 2023 compared with the same period a year earlier.


• Property Prices – Greek residential property prices continued to rise in the fourth quarter, according to the most recent data by the Spitogatos property platform. Compared with a year earlier, asking prices for home sales rose 11.9% in the fourth quarter of 2023, while asking prices for rents were up 8.8% on year.


• Airport Privatization – Greece privatization agency will sell its 30% stake in the Athens International Airport through an initial public offering next month. The airport, Greece’s largest, served more than 28 million passengers in 2023 – a record high − and the IPO on the Athens Stock Exchange is expected to be the largest in more than 15 years.


• Data Center – U.S. tech giant Microsoft has received final approval to develop a €1 billion data center complex east of Athens following the issuance of the presidential decree greenlighting the project. The investment envisions the creation of a complex of three data centers near the town of Spata, close to the Athens International Airport.


• Enterprise Greece – Enterprise Greece signed a Memorandum of Understanding with the Enterprise Europe Network – Europe’s leading forum for small- and medium-sized businesses – to help promote export activities by Greek SMEs. The two organizations agreed to work together in providing information, education and training to Greek exporters.


• Alexander the Great – The Greek government has reopened the ancient royal palace of Aigai in northern Greece after a 16-year, €20 million restoration project. The 15,000 square meter site, near the town of Vergina, is where Alexander the Great was crowned in 336 BC following the death of his father Philip II.

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