ECONOMY
-The Greek economy is expected to increase by 2.2% in 2024 and 2.5% in 2025, before dropping to 2.3% in 2026, according to the Bank of Greece’s Monetary Policy Report for 2023-2024. Key drivers of this economic activity will be investments, private consumption, and exports, while public consumption expected to have a marginally negative impact.
-Almost four in five Greeks fear losing their job to AI (artificial intelligence) according to data released by the European Center for the Development of Vocational Training (Cedefop) as part of an AI Skills Survey carried out from February to May on 5,342 employees aged 16 to 64 in 11 EU states.
-The Total Building Activity (private-public) in Greece, in March 2024 which is calculated on the basis of the number of issued building permits, amounted to 3,756. This figure corresponds to 873,036 m2 of surface and 3,285,556 m3 of volume, reflecting, respectively, a 39.8% increase in the number of building permits, a 34.8% increase in surface and an 11.2% increase in volume, compared with the corresponding month of 2023, the Hellenic Statistical Authority (ESTAT) data showed.
BUSINESS
-Greece’s K Group and the Qatar Investment Authority (QIA), one of the largest and most active sovereign wealth funds worldwide, have announced the creation of a $1 billion investment fund for Greece and abroad. K Group is the conglomerate of companies owned by the Kyriakou family that includes the global oil shipping business, the Antenna Group, an international media and entertainment organization, and other diversified investments.
REAL ESTATE
The supply of short-term rentals continues to soar, Kathimerini reported citing data from the Institute of the Greek Tourism Confederation (INSETE). The rate that the supply of available short-term rental beds is increasing, and they will soon exceed 1 million, compared to 888,000 beds available at hotels, according to the latest available data from the Hellenic Chamber of Hotels.