Greece recorded the second-best performance of the last five years in 2024 in terms of attracting foreign direct investment, as according to the annual report on FDI published on Friday by UN Trade and Development (UNCTAD), these amounted to $7.3 billion, an increase of 41.5% compared to 2023. The best performance was recorded in 2022, when FDI amounted to $8.45 billion.
Masdar’s large investment in Terna Energy as well as the purchase of additional shares in Athens International Airport by AviAlliance, which were offered by TAIPED, are one of the main reasons for this increase.
FDI also played a decisive role in the real estate sector, either in the real estate category or as private real estate purchases and sales. In fact, the increase in the minimum thresholds for obtaining a Golden Visa, before the implementation of the new regime, triggered investments by foreigners in real estate in Greece.
Of the total $7.3 billion in FDI in 2024, that related to acquisitions and mergers of Greek business entities involving foreign capital came to $1.49 billion, recording an increase of 47.3%. It is important to note that, unlike previous years, so-called greenfield investments increased in 2024. These are completely new investments and not the acquisitions of existing businesses, but the establishment of new businesses or expansion with new investments. Investments in this category amounted to $3.41 billion in 2024, recording an increase of 165.1% compared to $1.28 billion in 2023.
The opposite trend was recorded regarding Greek investments abroad, as in 2024 they fell by 42% and amounted to approximately $2.62 billion, from $4.51 billion in 2023. The FDI stock in Greece amounted to $68.24 billion in 2024 from $65.60 billion in 2023, recording an increase of 4%.
The positive trend is continuing this year: According to Bank of Greece data, in the first quarter of 2025, FDI flows were higher year-on-year and amounted to 1.2 billion euros, reflecting investments in shares and realty. The sectors that attract FDI the most are those of manufacturing, construction and real estate.