Greece: In-depth PESTLE Insights

This PESTLE country analysis report on Greece provides a holistic view of the country, with insightful analysis of current and future issues, supplemented with relevant quantitative data to support trend analysis.

Synopsis

- Understand the political system in Greece through analysis of key figures in the country and governance indicators.

- Understand the economic situation in Greece through a balanced assessment of core macroeconomic issues.

- Understand customer demographics in Greece through analysis of income distribution and the rural-urban split, as well as healthcare and education.

- Understand the technological landscape in Greece through analysis of relevant laws and policies, as well as patents data.

Scope

- The political landscape section discusses the evolution of the political scenario in Greece, as well as the country's economic, social, foreign, and defense policies. The section also discusses the country's performance according to World Bank Governance Indicators.

- The economic landscape section outlines the evolution of Greece's economy, as well as the country's performance in terms of GDP growth, composition by sector (agriculture, industry, and services), fiscal situation, international investment position, monetary situation, credit disbursement, banking sector, and employment."

- The social landscape section analyzes the government's social welfare policies, as well as the country's performance in terms of healthcare, income distribution, and education.

Reasons to buy

- What is the outlook in Greece in terms of political stability, policies towards business, and the popularity of the government?

- How does Greece perform in terms of GDP growth, its fiscal situation, international investment position, monetary situation, and employment?

- How does Greece perform in terms of healthcare, income distribution, and education?

- How does Greece perform in terms of technology-intensive sectors like IT, life sciences, and R&D expenditure trends?

Table of Contents

Table of Contents

Overview 2

Catalyst 2

Summary 2

Key findings 2

PESTLE highlights 4

Key fundamentals 6

Key Facts and Geographical Location 14

Key ...

Table of Contents

Overview 2

Catalyst 2

Summary 2

Key findings 2

PESTLE highlights 4

Key fundamentals 6

Key Facts and Geographical Location 14

Key facts 14

Geographical location 15

PESTLE Analysis 16

Summary 16

Political analysis 17

Overview 17

Current strengths 17

Current challenges 17

Future prospects 19

Future risks 19

Economic analysis 21

Overview 21

Current strengths 21

Current challenges 24

Future prospects 25

Future risks 27

Social analysis 29

Overview 29

Current strengths 29

Current challenges 29

Future prospects 32

Future risks 32

Technological analysis 35

Overview 35

Current strengths 35

Current challenges 37

Future prospects 37

Future risks 38

Legal analysis 39

Overview 39

Current strengths 39

Current challenges 39

Future prospects 41

Future risks 42

Environmental analysis 43

Overview 43

Current strengths 43

Current challenges 43

Distortionary policies 43

Future prospects 44

Future risks 45

Political Landscape 46

Summary 46

Evolution 46

Pre-1975 46

1975-2000 47

2001 onwards 48

Structure and policies 49

Key political figures 49

Structure of government 49

Structure of legislature 49

Key policies 51

Performance 52

Governance indicators 52

Outlook 53

Economic Landscape 54

Summary 54

Evolution 54

1950-90 54

1991 onwards 54

Structure and policies 56

Financial system 56

Greek stock markets 57

Performance 57

GDP and growth rate 57

Fiscal situation 63

International investment position 64

Monetary situation 64

Employment 65

Outlook 66

Social Landscape 67

Summary 67

Evolution 67

Structure and policies 67

Demographic composition 67

Education 69

Healthcare 69

Performance 69

Healthcare 69

Outlook 72

Technological Landscape 73

Summary 73

Evolution 73

Structure and policies 73

Intellectual property 73

Performance 73

Telecom and Internet 73

Outlook 74

Legal Landscape 75

Summary 75

Evolution 75

Structure and policies 75

Judicial system 75

Tax regulations 76

Performance 76

Outlook 77

Environmental Landscape 78

Summary 78

Evolution 78

Structure and policies 78

Environmental regulations 78

Performance 78

Environmental impact 78

Outlook 79

Appendix 80

Ask the analyst 80

Disclaimer 80

List of Tables

List of Tables

Table 1: Greece - key fundamentals 6

Table 2: Greece - key facts, 2018 14

Table 3: Analysis of Greece’s political landscape ...

List of Tables

Table 1: Greece - key fundamentals 6

Table 2: Greece - key facts, 2018 14

Table 3: Analysis of Greece’s political landscape 17

Table 4: Analysis of Greece’s economy 21

Table 5: Analysis of Greece’s social system 29

Table 6: Analysis of Greece’s technology landscape 35

Table 7: Patents granted by the US Patent and Trademark Office, 2010-15 38

Table 8: Analysis of Greece’s legal landscape 39

Table 9: Analysis of Greece’s environmental landscape 43

Table 10: Mid-year population by age (percentage of total population), 2017 68

List of Figures

List of Figures

Figure 1: Map of Greece 15

Figure 2: General government debt - 2016 20

Figure 3: Contribution of tourism as a percentage ...

List of Figures

Figure 1: Map of Greece 15

Figure 2: General government debt - 2016 20

Figure 3: Contribution of tourism as a percentage of GDP, 2011-2017f 22

Figure 4: International tourism, receipts, 2008-2015 23

Figure 5: Evolution of the turnover index in accommodation and food service activities sector, 2011-2016 24

Figure 6: Youth unemployment rate, 2016 25

Figure 7: Current account balance and unit labour cost, 2005-17 26

Figure 8: Reform responsiveness rates, 2015-16 27

Figure 9: Non-performing loans to total gross loans, 2008-2016 28

Figure 10: Gross pension expenditure - 2012/2013 30

Figure 11: Increasing age dependency ratio in Greece, 2000-2016 31

Figure 12: 25-34 years old population with tertiary education - 2016 32

Figure 13: Well-being in Greece is significantly below the OECD average in several dimensions - 2015 33

Figure 14: People at risk of poverty or social exclusion - 2016 33

Figure 15: Poverty rate - 2015 34

Figure 16: Research and development expenditure, 2005-16 36

Figure 17: High-technology exports, 2008-16 37

Figure 18: Tax wedge amongst OECD nations - 2016 40

Figure 19: Bankruptcy procedures in Greece are time consuming - 2014 41

Figure 20: Recovery rates are low - 2014 41

Figure 21: Product Market Regulations, 2008 and 2013 42

Figure 22: CO2 prices implicit in diesel and petrol excise taxes after adjusting for externalities, 2013 Q1 44

Figure 23: Greenhouse Gas Emissions (CO2 equivalent), 2006-2015 45

Figure 24: Greece - key political events, 1920-2016 47

Figure 25: Greece - key political figures 49

Figure 26: Composition of the Greek parliament after September 2015 elections 51

Figure 27: Greece - historical GDP growth, 2005-16 56

Figure 28: GDP and GDP growth rate in Greece, 2012-22f 58

Figure 29: GDP composition by sector, 2016 59

Figure 30: Agricultural output of Greece, 2012-17f 60

Figure 31: Industrial output of Greece, 2012-17f 61

Figure 32: Services output of Greece, 2012-17f 62

Figure 33: External trade of Greece, 2013-17f 64

Figure 34: Consumer price index and consumer price index-based inflation in Greece, 2012-22f 65

Figure 35: Unemployment and unemployment rate in Greece, 2012-22f 66

Figure 36: Greece religious composition 69

Figure 37: Expenditure on healthcare in Greece, 2009-15 70

Figure 38: Public expenditure on education in Greece, 2010-16 71

Figure 39: Internet users and penetration rate in Greece , 2013-17f 74

Figure 40: Greece - judicial structure 76

Figure 41: Carbon dioxide emissions in Greece, 2008-15 79

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