Bank of Greece

FDI mainly in property, NPLs

The leading position of real estate in foreign direct investment (FDI) in Greece remained and even strengthened in 2023, as the figures show, maintaining the reflection as to whether and how the country's production model will eventually be able to change.

Security system upgrade at Greece’s Fort Knox completed

Greek President Katerina Sakellaropoulou, Prime Minister Kyriakos Mitsotakis, President of the Parliament Konstantinos Tasoulas and ministers toured the Bank of Greece's vault which was recently upgraded with new security systems, as guests of its governor, Yannis Stournaras. The vault stores 71 of the 151 tons of Greece's gold.

Online scams growing exponentially

Experts are sounding the alarm as online fraud in Greece quadrupled between 2018 and 2023. According to the Cybercrime Unit, 5,261 incidents were recorded last year, up from 1,093 in 2018. The recruitment of artificial intelligence is further worrying experts as now perpetrators can create more believable messages.

Salary is not enough for most

The monthly income is sufficient for just 19 days for around 61% of households in Greece, as price hikes in basic goods and services eat away at incomes for the third year in a row, while inflation has been at much larger levels than any salary increase in recent times.

All-time record in tourism as receipts set to pass 20-billion-euro mark

The current market estimate for travel receipts in 2023 is 20.5 billion euros following the publication of Bank of Greece data for the first 11 months of last year. 

That is an increase in foreign tourism revenues of more than 10% compared to the last record year, 2019. It is recalled that in 2019 the receipts from abroad for Greek tourism had amounted to €18.2 billion.

Bank of Greece: Tourist receipts soar in 2023

Greece saw a surge in tourist arrivals, reaching 32 million visitors from January to November 2023, according to data from the Bank of Greece released on Monday. 

The inbound travel movement surged by 17.3%, totaling 31.97 million travelers compared to 27.25 million in 2022. This surge resulted in a 15.4% rise in travel receipts, reaching €20.1 billion.