Greece

The Hellenic Republic is located in Southern Europe, bordering Albania, Macedonia, Bulgaria, Turkey, the Aegean Sea, Ionian Sea, and the Mediterranean Sea. Greece is about the size of Alabama covering an area of 131,940 sq. kilometers and has an archipelago of around 2000 islands. The total population is 10.77 million and is growing at a rate of 0.04% with 61% living in urban areas. The capital of Athens has a population of 3.5 million (Greater Athens) with other main cities including Thessaloniki (1.05 mil) and Piraeus (0.88 mil). The people are governed by a parliamentary republic and are 98% Greek Orthodox. The official language is Greek, and the currency used is the Euro. Greece joined the European Union in 1981 and adopted the Euro as currency in 2001.

Greece has a capitalist economy based heavily in the public sector and benefits greatly from the tourism industry and EU aid. Greece is looking to improve economic stability in the future by reducing the size of the public sector and reforming labor and pension systems. Greece’s main trade partners are in the EU, namely Germany, Italy, and France, but also including the UK, Cyprus, Bulgaria, and Romania. Other trade partners include Russia, China, and the US. Its primary imports are machinery, transport equipment, chemicals, and fuels. Exports include food and beverages, manufactured goods, petroleum products, chemicals, and textiles. Greece’s GDP (Purchasing Power Parity) is $280.8 billion and has declined at a rate of 6% despite a low inflation rate of 1.1%. Greece ranked78 out of 185 countries in the World Bank Group’s Ease of Doing Business Ranking.

Demographic Data Economic Data Cultural & Other Data
Area (sq. km.) 131,940 GDP (PPP, $bn) 280.8 Capital Athens
Population (million) 10.77 GDP RealGrowth (%) -6 Other Large Cities Thessaloniki, Piraeus
PopulationGrowth % 0.04 per Cap GDP ($) 25,100 Primary Language Greek
% PopulationUnder 15yrs 14.1 Prime LendingRate (%) 7.2 UrbanPopulation % 61
Population belowpoverty line (%) 20 Inflation Rate% 1.1 Urban Growth % 0.6
Agricultural Workers(% of population) 12.4 Unemployment% 24.4 Literacy(% of population) 96
Industrial Workers(% of population) 22.4 Foreign DirectInvestment($bn) 27.26 Education spendingas % of GDP 4.1
Service Workers(% of population) 65.1 Debt-External($bn) 583.3 CPI Score (1-100)* 36
Labor Force (mil) 4.951 Exports ($bn) 26.67 Corporate Income Tax % 25
Imports ($bn) 57.92 Ease of DoingBusiness Ranking ** 78

Click the links below for articles with more information on Franchising in Greece

Doing Business in Greece (2012)

Reform of European Union Rules on Distribution (2010)

European Commission's New Block Exemption Rules Enter Into Force June 1 (2010)

* CPI Score is published by Transparency International and relates to the perceptions of the degree of corruption as seen by business people and country analysts and ranges between 100 (highly clean) and 0 (highly corrupt).

**Ease of Doing Business Ranking is determined by the World Bank Group and is ranked out of a possible 185 countries. www.doingbusiness.org

Most recent statistics have been taken from the CIA World Factbook unless noted otherwise.