Greece: Essential Facts, Economy, Culture, and Business Practices

Greece: An EU Member State

Greece joined the EU in 1981.

Location

Greece is located in southeastern Europe, bordering Turkey, Bulgaria, Albania, and North Macedonia.

Capital City

The capital city is Athens.

Currency

The euro is the official currency.

Religion

95% of the population belongs to the Orthodox Church of Greece.

Language

Greek is the official language.

Economy

Historically agriculture-based, Greece's economy is now led by industry. Tourism and shipping are also vital economic sectors. However, the Greek economy faces challenges, including high unemployment, bureaucratic inefficiencies, and corruption. The financial crisis and austerity measures have led to public discontent and protests.

Unemployment Rate

The unemployment rate in Greece has increased to 25.40 percent.

Political System

Greece is a parliamentary republic.

Greek Culture

Many Greeks are superstitious and hold strong religious beliefs, sometimes extending to supernatural or paranormal phenomena. Common superstitions include bad luck associated with black cats and broken mirrors, and the practice of knocking on wood to ward off bad thoughts.

Health System

Despite increased health expenditure, the Greek health system remains fragmented, uncoordinated, and inefficient.

Doing Business in Greece

Greeks prefer face-to-face meetings with trusted partners over impersonal communication like phone calls or written correspondence.

• Hiring an interpreter is advisable.
• Companies are hierarchical, with respect and decision-making authority concentrated at the top.
• Men should wear dark-colored, conservative business suits.
• Women should wear business suits or tasteful dark-colored dresses.