Lucintel PESTLE Analysis of Greece: High Economic Risk Due to High Sovereign Debt
Irving, TX, December 28, 2013 --(PR.com
)-- Greece’s economy is likely to witness modest growth over the next five years and reach an estimated $280.6 billion at the current price by 2018. The country has high economic risk due to higher amount of external debt taken from IMF and other countries during Euro debt crisis.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the political, economic, social, technological, legal, and environmental risks of the country and presents its findings in “PESTLE Analysis of Greece 2013.” This report gives the insightful SWOT analysis of Greece, thus helping the investors to easily understand the strengths, weakness, opportunities, and threats of Greece’s economy.
Greece which experienced economic and political turmoil in recent years is likely to face many challenges in its quest to achieve growth and competitive edge of the economy and demographic developments. Greece has a multi-party political system. Coalition government is in power since March 2009 with instable government. The government of Greece has taken austerity measures to recover from the current economic scenario of negative GDP growth rate. Apart from economic scenario the country is also trying measures to repay the loans taken from IMF and EU countries. In order to develop industries, Greece is likely to increase its investments on R&D from current 0.56% of GDP to 1% by 2015. The main focus on R&D is expected to be in the improvement of technology for manufacturing expansion and increase industrial growth.
Lucintel report also points out towards the strong points of the Greece economy. Tourism and shipping industry are driving the Greek economy. Due to large coastline in Greece shipping industry also plays major role in driving the economy. All industries are expected to grow smoothly after recovery from crisis after 2015. Strong domestic demand is key driver of Greece’s economy. Strong work force and natural resources drives the economy. Greece is emerging as a strategic energy hub in Southeast Europe and a desirable location for investment in Wind, Solar, and Bio-energy. Most of the sectors of Greece are open for FDI. With new economy policy, Greece is attracting more FDI and FII.
This report analyzes the impact of different macroeconomic indicators of the country on different industries as well as economic and business risk involved in economy. In the current economic scenario of the country retail, real estate, and pharmaceutical industry are likely to be most affected. This report will be helpful for strategic analysis done by CEO, managers, Bankers, Industrialist who wants to know about political, social, and economic outlook of Greece. This report will also benefit those who want to invest in Greece. This report help the reader to understand the economic strength and risk involved in the Greece.
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