Greece – the mythical land not only attracts with its pearly beaches, ancient coastal villages and brilliant civilization, but is also becoming one of the fastest growing tourism economies in Europe. Previously, the name Greece was often associated with a tumultuous period: financial crisis, billion-euro bailouts, and a prolonged gloomy economic picture. That unintentionally created a deep prejudice – that Greece is a “risky” destination for investors. But times have changed, and the story of Greece today is a strong testament to a spectacular recovery.

In this article, Harvey Law Group will provide a comprehensive view of the Greek economy, explore why Greek tourism is booming again, and what makes Greek nature a treasure of the Mediterranean.

Greece – the land of myths

A new Greece: growing, modern, and full of promise

While Greece was overshadowed by a protracted debt crisis in the 2010s, the picture has changed dramatically. Instead of being seen as a “risk point” in the region, Greece is repositioning itself as a symbol of sustainable recovery and long-term investment opportunities. Impressive growth figures and the growing appeal of the real estate market are clear evidence of this transformation. According to a report by the Central Bank of Greece:

• The country’s economy is forecast to grow by 2.3% GDP in 2024 – 0.6% higher than the Eurozone average – and is forecast to remain stable at 2.2–2.3% in 2025–2026 , thanks to strong domestic consumption and steady investment flows from EU support funds.
• The unemployment rate fell to 10% – the lowest since 2009.
• FDI (foreign direct investment) flows increased sharply in areas such as renewable energy, tourism, real estate, and logistics.

In particular, the Greek government is actively promoting preferential investment and settlement policies, most notably the Greek Golden Visa program – one of the most attractive and competitive visa programs in Europe.

With a real estate investment of only EUR 250,000 – foreign investors can receive a long-term residence card for the whole family, freely living, studying and traveling throughout the entire Schengen area without a minimum stay requirement.

Since its launch in 2013, the Greek Golden Visa program has brought in over EUR 4.5 billion in direct investment – ​​mainly into the real estate market and construction industry, creating thousands of local jobs and revitalizing abandoned urban areas.

In 2023 alone, Greece granted nearly 6,000 residence permits to foreign investors, accounting for more than 30% of all Golden Visa applications in Europe, helping to increase budget revenues from transfer and property taxes, while stimulating the strong development of tourism and luxury services in Athens, Thessaloniki, Crete and famous islands.

Greece Travel: Back to the Top of Europe

In parallel with the growth, the Greek government is implementing far-reaching fiscal reforms, which are helping to boost market confidence. The two traditional pillars of the economy – real estate and tourism – are also experiencing a strong revival. In 2024, Greece will welcome a record 40.7 million international visitors, generating revenues of €21.6 billion, representing around 13‑18% of GDP – a clear testament to the recovery and potential of this Mediterranean country.

Greece tourism has always been at the top of the list of dream destinations for global travelers. After the pandemic, the country’s tourism industry recovered quickly:

• In 2023, Greece will welcome more than 32 million international visitors, surpassing the pre-COVID-19 period.
• Notable destinations such as Santorini, Athens, Mykonos, Crete are regularly ranked among the most beautiful cities in the world by CNN, Forbes and Condé Nast Traveler.
• The harmonious combination of ancient history – modern sea and sky – Mediterranean cuisine makes it impossible for visitors to leave.

Tourism infrastructure has also received major investment: a new international airport in Athens, a modern cruise ship and port system, and strong development of 5-star hotel and resort services.

Athens – the cultural heart of Greece is becoming the focus of international investment capital. From Europe to the Middle East, the investment wave is increasingly strong. Ancient architectural works are revived into luxury boutique hotels, while high-end apartments are continuously sought after by elite investors, capturing the trend of high-end resorts on the Mediterranean coast.

Greek Nature: Heritage of Heaven, Earth and Sea

Not only famous for its long history and ancient architecture, Greece also possesses beautiful and vibrant nature, being one of the rare countries in Europe where the sea, mountains and culture blend perfectly. This spectacular natural landscape has become a big plus, attracting tourists, investors and those who are looking for a life close to nature.

• 6,000 islands, of which more than 200 are inhabited, create the most diverse marine ecosystem in Europe.
• The Aegean and Mediterranean Seas are emerald green, the climate is mild all year round, with an average of more than 300 sunny days per year.
• Mount Olympus – considered the “roof of the gods” – is an attractive trekking and picnic spot for tourists who love to explore.
• National parks such as Vikos–Aoos, Samaria Gorge, Lake Plastira offer pristine nature experiences, ideal for families and nature lovers.

Why Are So Many People Choosing to Live in Greece?

Amid the rising trend of green living, balanced living and safe investment, Greece stands out as an ideal destination to both settle down – invest profitably – and enjoy the European quality of life at a reasonable cost. From a safe living environment, fresh climate, to flexible settlement policies and stable real estate growth potential, such as:

• Cost of living is more affordable than Western Europe;
• Safe living environment, pleasant climate all year round;
• EU standardized health care and education system
• Free movement within the Schengen area;
• Opportunity to invest in real estate with increasing prices, benefiting from tourism and FDI capital flows;
• Greek Golden Visa does not require residency, no dual nationality restrictions, investment from only EUR 250,000.

Greece is gradually becoming a “second home” for thousands of foreigners every year.

Greece Golden Visa – the elegant key to enter the European living space

While real estate prices in many European capitals have reached high levels, Greece is still in the “rising” phase – where there are still many profitable opportunities and investment levels are still very reasonable. Especially when combined with the Golden Visa policy – ​​a residency program for foreign investors – Greece becomes an even brighter destination. Stable growth & solid policies – show that the economy has “resiliently” recovered from the crisis.

With just a reasonable real estate investment, investors and their families can own a Greek Golden Visa with countless benefits such as:

• No residency requirements, no language requirements, no management experience requirements;
• No property tax;
• Low property taxes;
• Freedom within the Schengen area – it is not only a financial investment but also an investment in lifestyle, future and global freedom;
• 3 generations of family with Golden Visa;
• Can establish a business;
• It is possible to apply for Greek citizenship after 7 years if the requirements for physical residence and language are met.

Investors can choose 1 of 3 investment forms:

1. Minimum investment of EUR 800,000 in a real estate property in the entire Attica Administrative Region (including Piraeus and most of the Capital Region), the Regional Units of Thessaloniki, Mykonos, Santorini, islands with a population of over 3,100; 
2. Minimum investment of EUR 400,000 in a property in other areas The investor must purchase a single property with a minimum area of ​​120m2 and must not rent the property out for a short period of time.
3. Investors may be eligible to invest a minimum of EUR 250,000 if the investor converts commercial property into residential property; or restores listed buildings of historical or cultural significance, regardless of size or location.

Harvey Law Group – a trusted companion of elite investors

With 33 years of international experience and a presence in more than 20 countries, Harvey Law Group (HLG) is more than just a law firm – we are a strategic partner for global investors. In Vietnam, HLG has accompanied hundreds of families to open the door to European settlement through the Greek Golden Visa program, with an almost absolute success rate.

As the investment wave is quietly shifting towards Southeastern Europe, Greece is the new convergence point – and HLG is ready to bring investors closer to worthy opportunities. Contact Harvey Law Group now or 091.444.1016 for direct consultation.