In spite of this ongoing economic uncertainty, or maybe because of it, Greece could offer a great investment opportunity – so if you’re thinking of exporting to Greece, here’s everything you need to know…<\/p>\n
What are the pros and cons of exporting to Greece?<\/h2>\n
Greece is currently undergoing a major public sector privatisation programme, and many UK consultants, law firms and auditors are already taking advantage of these opportunities by getting involved in the planning of and first phases of these schemes.<\/p>\n
There are a number of benefits for UK businesses looking to invest in Greece, including close educational and cultural links between the two countries, which means British products and services are well received provided prices are competitive.<\/p>\n
The strengths of the Greek market include:<\/p>\n
- \n
- Over 20 million tourists visit Greece every year with about 2 million from the UK<\/li>\n
- Rich in natural resources<\/li>\n
- Highly educated and skilled workforce<\/li>\n
- Strong entrepreneurial tradition<\/li>\n
- Low labour costs.<\/li>\n<\/ul>\n
And there are currently around 35,000 British citizens living in Greece, and a number of UK companies are active there, including Vodafone, Dixons, Marks & Spencer, Unilever, GlaxoSmithKline, British Airways and Astra Zeneca.<\/p>\n
Although the debt crisis has led to a decline in UK exports,\u00a0it remains an important market for British goods and services, which are worth a combined \u00a32.2 billion (\u00a30.9 billion goods and \u00a31.3 billion services).<\/p>\n
What are the main UK exports to Greece?<\/h3>\n
The top 10 exports from the UK to Greece are:<\/p>\n
- \n
- Medicinal and pharmaceutical products<\/li>\n
- Miscellaneous manufactured articles<\/li>\n
- Petroleum and petroleum products<\/li>\n
- Clothing and clothing accessories<\/li>\n
- Road vehicles<\/li>\n
- Beverages<\/li>\n
- Oils, resinoids and perfume materials<\/li>\n
- Telecommunications and sound recording equipment<\/li>\n
- Electrical machinery and appliances<\/li>\n
- General industrial machinery and equipment.<\/li>\n<\/ul>\n
Doing business in Greece is not without its challenges though, not least because of the issues arising from the sovereign debt crisis. Other problems include:<\/p>\n
- \n
- Perception that UK products might be considered too expensive, even though they are high quality<\/li>\n
- Bureaucracy<\/li>\n
- Inconsistent and non business friendly taxation system<\/li>\n
- Reduced consumer purchasing power<\/li>\n
- 60th in the World Bank\u2019s Ease of Doing Business ranking.<\/li>\n<\/ul>\nIf you\u2019re doing business in Greece, you\u2019ll need a reliable and cost-effective conference call<\/a>\u00a0provider to help keep in touch when travelling isn\u2019t an option. Here\u2019s\u00a0How to set up a conference call between the UK and Greece<\/a>.<\/em><\/div>\n
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