5 Reasons why you should start your business in Greece
Greece’s long history, ancient mythology, and beautiful tourist attractions make it one of the most popular travel destinations in the world. Ιt is estimated that in 2018 alone, over 32 million people visited Greece, placing the country at the top of many “Best Countries to Visit in Europe” lists. Without a doubt, the term “Greek summer” is well-known across the world because it is the best season to visit, attracting countless foreigners looking to enjoy endless sunny days and some of the best beaches in the world.
However, everything changed when the economic crisis hit the country in 2009. While tourists still came to visit, there was a drop in overall investment in the country and locals became deeply afraid of starting businesses in Greece.
Now nearly a decade after the crisis first broke, things are changing for the better. New businesses, companies, and organizations are being set up in the capital city of Athens, proving that it is still a great market to invest in. Let’s take a look at why more people are starting their businesses in Greece today, and five great reasons to start if you haven’t already.
Greece is an amazing country to get to know, with all the historical and tourist spots available to visit throughout the entire year, all relatively close to the center of the city. Working in such a beautiful place is itself quite inspiring, and being surrounded by museums, art exhibitions and cultural events can be the right motivation for anybody to start their business, especially if it involves creativity. A perfect example is our resident Peter, a musician, who chose Greece because he truly felt inspired by the country for his work.
When it comes to the Greeks, they are most known for being very friendly to newcomers and, in the words of our resident Max B., people here are more “Mediterranean”, which means that they are more open to start a conversation, share new ideas and meet new people. Greek hospitality is worldwide famous and it is part of the identity of the people living here, as well as those who choose the country for work or for their vacation. These “Mediterranean” traits of the people are great for a stimulating working environment, networking, and building your brand messaging.
Greece’s strategic geographic position can be very useful to access other foreign markets, such as the international trade with many European, Asian, and African countries. If your company needs some good transportation to sell their products or services, getting to know the Greek ports and their links to the world market is the best way to start in the industry and become part of it. In addition, Greece is a member of the EU and EMU, which consists itself shows itself as a great opportunity for business.
#4 Cheaper Costs
The living costs in Greece are quite low in comparison to other european or north american countries, and, even though the average salary here is lower, you can enjoy a better life quality with less money. Also, the greek diet is one of the most famous in the world, with low fat organic food and lots of fruit and vegetables making it healthy and cheap. You can also find quality food and wine that costs much less than in other countries (25 to 50% lower than in many northern European and North American countries).
#5 Innovation Demand
Following the economic rise, the country’s startup culture is gradually growing stronger . New demands and new possibilities are increasing in diverse market fields,opening up more opportunities for innovation and the growth of new businesses.
One of our residents Lucy Xu came from the United States to create The Port, a company adapting the best entrepreneurial practices and business culture from the U.S. for the creative and innovative Greek startup ecosystem. It is the combination of these new and existing minds within the local tech ecosystem that contributes to a strong culture of originality, slowly transforming Greece into a global tech hub.
Last year, Athens was voted the Capital of Innovation, and today it has increasingly become the home to digital nomads, expats, and long-term international visitors. We are seeing the creation of more events dedicated to help these new businesses, such as workshops, hackathons and startup weekends bringing together tech entrepreneurs and creating a culture of technology and innovation
Greece is a country that is constantly innovating, and it provides a bright future for those who want to build a brand and start a business. And in order to connect the national and international talents, Stone Soup was born as a coworking and collaboration space for startups, freelancers and digital nomads established in the heart of Athens.
If you want to know more about it, keep up with Stone Soup on our social media: www.facebook.com/StoneSoupGr/.