Greece Economic Performance, Country Brand Strength and Reputation

Famous as the birthplace of the Olympic Games, Greece has made significant contributions in the field of politics, economics, science, literature, and philosophy. The influence of the Mediterranean Sea is evident in Greece’s year-round sunny climate and cuisine, attracting visitors from around the world. Its economy is as diverse as its history, with significant investment and business expansion opportunities in tourism, shipping, and agriculture.

For professionals in FDI and economic development, Greece presents an immense investment potential, making it a captivating destination for economic and cultural exploration. Let’s explore how Greece positions itself on the world stage, drawing insights from data provided by TPBO partners and other reputable institutions.

Let’s take a closer look at:

• Greece’s soft power and brand strength
• Its appeal to skilled labor, investors and visitors
• The country’s global contribution to peace and wellbeing
• How well it fares in terms of happiness and sustainability

Greece’s soft power and brand strength

How does Greece compare in terms of reputation and brand value globally? 

In the Global Soft Power Index 2024 by Brand Finance, Greece ranks 36^th behind Malaysia (35^th) and Iceland (34^th). The position remained the same as in 2023. However, the score has risen from 44.3 in 2023 to 45.6 in 2024.

In the U.S. News Best Countries 2023 ranking, Greece secures the 27^th position between Qatar (26^th) and Brazil (28^th). Notably, Greece excels in two key areas: heritage (2^nd) and adventure (3^rd). Greece’s ranking dropped by two positions since 2022.

The Anholt-Ipsos Nation Brand Index (NBI) calculates its ranking based on averaging the scores of six different factors: exports, governance, tourism, culture, people and immigration, and tourism. According to the NBI 2023 ranking, Greece came in 21^st position, a drop of one position from the 2022 ranking.

How “Good” is Greece as a country?

What is Greece’s contribution to global well-being?

In the Caf World Giving Index 2023, Greece ranks 138^th behind Afghanistan (137^th) and Cambodia (136^th). Greece suffered a massive drop, considering it ranked 102^nd in 2022. The country now features among the bottom 10 in donating money and volunteered time. However, the country is fairly good at helping a stranger (46%). 

In the Good Country Index, Greece currently secured the 36^th position overall, with notable subfactors as follows: Science & Technology (35^th), Culture (31^st), International Peace & Security (34^th), World Order (20^th), Planet & Climate (62^nd), Prosperity & Equality (35^th), and Health & Wellbeing (99^th). Most significantly, there has been an increase in the Prosperity & Equality factor, improving from 106^th position in 2021 to 35^th in 2022. 

According to the Economist Intelligence Unit (EIU) Democracy Index 2023, Greece ranked in the blue zone (8-9 range) with a 7.97 out of 10. This is higher than neighbouring Albania (6.41) or Romania (6.45). In the 2022 Corruption Perception Index, Greece comes 59^th, tied with Namibia. Greece’s score has dropped by three since 2022.

The Sustainable Development Report 2023 ranks Greece 28^th, with a score of 78.4. The report highlights that Greece faces major challenges in many of the 17 SDGs. However, the country is experiencing increasing positive changes, although the “responsible consumption and production” factor is experiencing a downward trend in Greece.

Talent attraction and competitiveness

How well is Greece performing in attracting and retaining talent?

The World Economic Forum Global Competitiveness Index 2019 edition placed Greece at 58^th position among 141 countries. However, it’s important to note that an updated version of this report hasn’t been released in the past five years, and rankings may have shifted since then.

In the Global Talent Competitiveness Index 2023 ranking, Greece holds 39^th position, just behind Hungary (38^th). In this report, Greece is classified as a high-income country within Europe and is ranked 27^th on a regional level. The country ranks best in the Retain pillar (30^th), while the VT skills pillar ranked 66th and therefore represents a challenge for Greece.

In terms of education excellence, according to the World University Rankings 2024, Greece does not have any university within the top 100 overall scores. However, the University of Crete ranks 94^th in the Times Higher Education Young University Rankings 2023.

Greece’s appeal to digital nomads, business, trade and travel 

What is the global perception of Greece as a destination for living, conducting business, and tourism?

According to Expat Insider 2023, Greece ranks 25^th between Sweden (24^th) and China (26^th). Greece performs quite well in the Leisure options (11^th), Culture and Welcome (5^th), Local Friendliness (10^th) and Finding Friends (9^th); however, the country ranks comparatively low in many critical aspects of expats’ lives, such as Healthcare (41^st), Salary and Work Security (51^st), or Career Prospects (53^rd).

The Bloom Consulting biannual Country Brand Ranking Trade Edition 2022-2023 assesses investment-related variables, emphasising perceptions of a country’s trade-specific brand and evaluating branding performance. In Europe, Greece ranks 23^rd, two positions lower than in the previous report. Greece stands behind Malta (22^nd) and Cyprus (21^st). Worldwide, Greece ranks 56^th.

In addition, in the Bloom Consulting Country Brand Ranking Tourism Edition 2022-2023 ranking, Greece remains to secure the 19^th global position, behind Singapore (18^th) and Austria (17^th). In Europe, Greece ranks 11^th, following behind Austria (10^th) and Croatia (9^th). Greece’s attractiveness is believed to be due to its rich history, cultural vibrancy, and timeless allure, which attract tourists from all around the world.

In the IMD 2023 World Competitiveness Ranking, Greece came in 49^th position, showing a decline from its 47^th position in 2022 and 46^th position in 2021. Currently, Greece stands right behind Romania (48^th) and Turkey (47^th), and surpassing Croatia (50^th) and Latvia (51^st).

Regarding specific characteristics, Greece ranks relatively low in each category. Economic performance ranked 58^th, dropping from 51^st place in 2022. Government Efficiency slightly improved from 55^th in 2022 to 53^rd in 2023. Business efficiency dropped by two positions from 46^th in 2022 to 48^th in 2023. Finally, Infrastructure in Greece ranks 40^th, with a slight improvement from 41^st position in 2022.

Peace and happiness in Greece

Is Greece a happy and safe place to invest time and money in?

The Global Peace Index 2023 ranks Greece 60^th, dropping by six positions since last year’s index. Greece currently ranks behind The Gambia (59^th), Chile (58^th), and Moldova (57^th) and ahead of Bosnia and Herzegovina (61^st), Jordan (62^nd), and Zambia (63^rd). All of these fall under the “high sector” of the ‘State of Peace’ spectrum as defined by the Institute for Economics & Peace. Within the region, Greece ranks 30^th, behind Montenegro (29^th) and ahead of Bosnia and Herzegovina (31^st).

The Institute for Economics & Peace similarly ranks Greece within the ‘low impact zone’ in terms of the ‘Impact of Terrorism’ in the 2024 Global Terrorism Index. Greece ranks 34^th, ahead of Russia (35^th) and behind Sri Lanka (36^th).

Meanwhile, the World Happiness Report 2023, which displays the Ranking of Happiness based on a three-year-average 2020–2022, ranks Greece 58^th, upholding the same positioning from the 2022 report. The country is behind the Republic of Korea (57^th) and ahead of Mauritius (59^th).

Greece’s environmental sustainability

How does Greece perform in rankings measuring environmental sustainability?

The 2022 edition of the Environmental Performance Index (EPI) ranks Greece 28^th, tying with the Bahamas (28^th). Using the most recent data available, the EPI scores 180 countries on their environmental performance and provides calculable changes in scores over the past decade. Greece has experienced a slight improvement over the last ten years.

Last updated in March 2024. More country profiles here.

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