Greece remains among the top choices for travel in the Mediterranean over the next 12 months, maintaining the strong brand it has built in recent years in the major Western European markets, while further enhancing its image. (Cover Photo: The islands of Koufonisia, Source: visitgreece.gr)

More specifically, Greece ranks 3^rd in preference for outbound travel over the next 12 months in the German and Italian markets, 4^th in the French and UK markets and 6^th in the Spanish market. Compared to 2024, it is particularly encouraging that Greece has moved up by one position in the UK market—which, together with Germany, constitutes one of the two strongest inbound tourism markets in terms of revenue and arrivals for Greek tourism—as well as in the Spanish market, while its ranking remained unchanged in the other markets.

The data come from the latest study (January 2026) by the Institute of the Greek Tourism Confederation (INSETE), titled “Brand Greece: How attractive is Greece as a tourist destination? Comparison with competing Mediterranean destinations”. The first part of the study focuses on key European markets such as Germany, France, the United Kingdom, Spain, and Italy. The research underpinning the study was conducted by GWI in two waves in 2025 (7,402 respondents) and in two waves in 2024, focusing on visitors’ preferences regarding potential travel destinations over the next 12 months, thus including the summer months, which are of critical importance for Greek tourism. The markets examined contribute nearly half (47%–48%) of total inbound tourism revenues, according to official data from the Bank of Greece for the period 2023–2024.

INSETE (Institute of the Greek Tourism Confederation SETE) is a research and strategic planning arm of four partners with intense activity in critical areas of the Greek tourism market: SETE, the main association of Greek tourism businessesas the principal partner, The Hellenic Hoteliers Federation (HHF), The Hellenic Association of Travel & Tourist Agencies (HATTA) and The Confederation of Entrepreneurs of Rented Rooms and Apartments(SETKE). Its mission is to contribute to the promotion and enhancement of the Greek tourism sector through research, data, analysis, and supporting public and private policies.

 VisitGreece.gr is the official tourism portal of Greece, operated by the Greek National Tourism Organisation (GNTO). The website serves as the primary digital platform for promoting Greece as a year-round travel destination. It provides comprehensive information on destinations, activities, events, and travel planning, including transportation, visas, and safety tips. VisitGreece.gr also offers inspiration for themed trips, itineraries, and unique experiences, helping international visitors easily explore and plan their stay in Greece. (Source: visitgreece.gr)

Mainland Incredible Destination: Greece is a popular destination not only because of its amazing islands but also because the mainland offers plenty of options for a memorable Mediterranean holiday! Explore unspoilt fishing villages full of tranquil charm, tower towns, and traditional stone built villages or try the exciting city breaks on offer. Visit archaeological sites, learn more about the country's fascinating culture, travel along the spectacular coastline and enjoy its picture-perfect scenery! (Source: visitgreece.gr)

With regard to the INSETE Study, Greece ranks within the top five in all of them, holding 3^rd or 4^th place, except for the Spanish market where it ranks 6^th. Even in that case, however, Greece has moved up by one position, confirming the strong brand of Greek destinations in major markets. Another factor confirming the positive momentum of Greek tourism is the fact that the difference in preference between Greece and the country ranked one position higher in the UK and Spanish markets is only around 2 percentage points.

Compared to competing countries in 2025:

• German market: Greece ranks 3^rd, with Italy and Spain in 1^st and 2^nd place respectively. Germans state that they would choose Italy for outbound travel over the next 12 months at a rate of 26.8%, Spain at 24.9%, Greece at 19.7%, Austria at 19.0%, and France at 17.9%.
• French market: Greece ranks 4^th, with Spain in 1^st place, Italy in 2^nd, and Portugal in 3^rd. For French travelers, Spain records a preference rate of 26.9%, Italy 24.8%, Portugal 15.1%, Greece 12.6%, and so on.
• UK market: Greece, with a preference rate of 19.9%, ranks 4^th, with Spain and Italy in 1^st and 2^nd place respectively, France in 3rd place, and Portugal in 6th place.
• Spanish market: Greece, with a preference rate of 9.5%, ranks 6^th, with Italy and France in 1^st and 2^nd place respectively, followed by Portugal in 3rd place.
• Italian market: Greece, with a preference rate of 16.8%, ranks 3^rd, with Spain and France in 1^st and 2^nd place respectively, and Portugal in 5^th place.

The island of Santorini (Source: visitgreece.gr)

The INSETE Study notes that for the Italian and Spanish markets, competing Mediterranean destinations for Greece such as Croatia and Turkey fall outside the top 10. In addition, it should be taken into account that Greece remains high in the preferences of Western Europeans despite its geographical position, which does not favor road access in the same way as in the case of Germany, which borders France and Austria and through them has access to Italy, making road travel easier—and potentially more economical. Similarly, in the case of France, both Italy and Spain share borders with France and therefore benefit from easy road access. This factor underscores that the attractiveness of Greek destinations is based on a strong and recognizable tourism product.

Elías Kikilias, General Director of INSETE, stated to the Athens News Agency: “The Greek tourism brand, having established itself at the highest level of competition in the Mediterranean, has entered a phase of maturity in an environment where competition is competition is structural in nature, not driven by short-term circumstances, with Spain and Italy acting as leading destinations. Strengthening sustainability and resilience, preserving destinations’ identity, and differentiating our tourism product within the framework of a long-term and coherent strategy that coordinates public and private efforts are more imperative than ever”.

(Source: amna.gr, insete.gr) 

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Endeavor Greece was launched in 2012 as part of the global Endeavor Network to support high-impact entrepreneurs. Founded in the beginning of a critical economic turmoil, Endeavor Greece aimed to serve the country’s entrepreneurship and help it flourish at the exact moment it was most needed. Since then, it has been at the epicenter of the Greek Innovation Ecosystem, by facilitating local and global entrepreneurial development through mentorship, services, and programs that help innovative founders enter hard-to-access emerging markets, and make economies thrive. (Cover photo: amna.gr)

Its mission is not simply to support startups, but to back high-impact entrepreneurs who can scale, create jobs, and strengthen the broader economy. Endeavor is neither an incubator nor a traditional accelerator; it selects, supports, and invests in founders through mentoring, global networks, and, when possible, capital via Endeavor Catalyst. Its ultimate goal is the Multiplier Effect—successful founders reinvesting their time, knowledge, and capital to help the next generation and build a resilient innovation ecosystem. As Endeavor’s leadership emphasizes, when successful founders give back time, knowledge, and capital to the next generation, the ecosystem gains depth and longevity.

By offering networking opportunities, access to capital and expertise, the Endeavor Greece programs help high-impact entrepreneurs with talent and innovative spirit to thrive, have a significant impact on their ecosystem and transform economies. An important role is played by the Scale Up Program, the early-stage support program, which in 2025 added two new cohorts and six new companies. Today it includes sixty active companies with founders in fifteen countries, reaffirming Endeavor’s goal of attracting talent to Greece and building global businesses from the country. At the same time, corporate innovation programs—from OPAP Forward, which has supported dozens of businesses and thousands of jobs, to the Visa Innovation Program Europe, as well as Rise Up, act as bridges between innovation and the real economy.

Recently, entrepreneurs, investors, executives of large organizations, mentors, founders, and representatives of the innovation ecosystem gathered at the former Hilton venue within the context of an Endeavor Greece meeting. The occasion marked the close of the year and focused on reviewing the year’s achievements and planning the next steps.

“2025 was a year of unprecedented technological acceleration,” notes the president of Endeavor Greece and co-owner and president of Phaea, Konstantza Spyrakou-Constantakopoulou, in her message on the Endeavor website. “Greek founders are no longer just riding the wave. They are helping to create it.” This phrase effectively served as the informal title of the gathering, because almost every discussion—whether about exits, investments, or new business plans—led to the same conclusion: the Greek innovation ecosystem has entered a phase of maturity, and with it comes a growing sense of responsibility.

2025 was a milestone year, as this model revealed its full potential. From the Athens Innovation Summit at the Odeon of Herodes Atticus to the first TechCrunch StrictlyVC in Athens, Greece moved to the center of the global tech and innovation conversation, while strong presences at major international events - Slush, VivaTech, FII, Gulfood, Idex - signaled a country acting with confidence and a clear narrative.

Endeavor’s global reach—spanning 50 markets, over 3,000 founders, and $700 million under management—translated into tangible results in Greece. Endeavor Catalyst invested $18 million in 12 Greek founders. Two leading Greek AI founders were selected as Endeavor Entrepreneurs, with Endeavor Catalyst participating in their funding rounds, which attracted global interest. In 2025 alone, the Endeavor Greece portfolio raised about $470 million in new capital, with six Greek companies included in Endeavor’s Global Outliers Class, ranked among the top 5% fastest-growing in the global network. These distinctions are not an end in themselves, but an indication that the ecosystem is gaining international momentum and confidence.

Behind the investment figures and headlines, however, lies another critical dimension. As Panagiotis Karampinis, Managing Director of Endeavor Greece, has pointed out, companies within the Endeavor ecosystem create new jobs, retain and repatriate talent, strengthen the country’s productive base, and contribute to the gradual transformation of the economic model. As was emphasized during the event, the goal is not only the generation of profits, but the diffusion of value across society, employment, and sustainable growth.

Endeavor Greece Video Interviews Series: Greeking Out 2.0

(Source: Endeavor Greece, amna.gr)

Government Startup Programs and Support in Greece

The Greek government has developed a range of programs and initiatives to support startups, innovation, and entrepreneurship. These programs aim to strengthen the national startup ecosystem, attract investment, and help new businesses grow both locally and internationally. Support is provided through direct government actions, public funding schemes, and cooperation with European institutions.

One of the most important government initiatives is Elevate Greece, which acts as the national gateway for startups. Managed by the General Secretariat for Research and Innovation under the Ministry of Development, Elevate Greece maintains the National Startup Registry. The Registry aims at monitoring startup entrepreneurship progress based on specific KPIs, at supporting them with benefits and incentives, and to operate as a dashboard of metrics to attract investors from Greece and abroad.

In addition to Elevate Greece, the Greek government offers public funding schemes and grants, many of which are co-funded by the European Union through the ESPA / NSRF 2021–2027 programs. These grants support areas such as digital transformation, research and development, green technologies, tourism innovation, and competitiveness. Funding programs are usually announced in specific calls and may focus on certain regions, industries, or business sizes. Startups can receive non-repayable financial support, provided they meet eligibility criteria and investment requirements.

Another major pillar of startup support in Greece is EquiFund, an initiative of the Greek State and the European Investment Fund (EIF), created with the ultimate goal of accelerating the development of the venture capital sector in Greece. This objective is achieved by channeling capital from EquiFund to intermediary financial institutions—namely, management teams selected by the EIF with the appropriate expertise—which then, in a professional and independent manner, select the business ventures and ideas to be financed. (photo source: antagonistikotita.gr)

The Greek government has also implemented new tax incentives and has introduced investment-based incentives connected to startups. Through recent changes to residency programs, investments in innovative Greek startups registered with Elevate Greece can be used as part of long-term residency schemes. These measures aim to attract foreign investors while supporting job creation and business growth in the country.

Beyond funding, Greece supports startups through public incubators, innovation hubs, and science parks. These structures often provide affordable office space, mentoring, training, networking opportunities, and help with accessing public funding. Many of these hubs are supported by national or regional authorities and work closely with universities, research centers, and private companies.

Additional support comes from public-sector-linked initiatives, such as entrepreneurship programs run by national employment agencies, regional authorities, and development laws. These programs may offer startup grants, advisory services, wage subsidies, or support for young entrepreneurs and first-time founders. Startups may also benefit from innovation challenges, competitions, and accelerator programs supported or endorsed by government bodies.

Overall, Greece’s startup support framework combines registration platforms, grants, venture capital stimulation, infrastructure, and policy incentives. Entrepreneurs are encouraged to register their startups early, monitor funding calls closely, and engage with incubators and innovation networks. Together, these government programs aim to create a supportive environment for innovation, economic growth, and sustainable entrepreneurship in Greece.

I.A.

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The strategic principles and key priorities of the Greek government’s cultural policy were presented by Culture Minister, Lina Mendoni, speaking at the Center for Hellenic Studies at Harvard University. The fundamental principles of preserving, protecting, and promoting Greece’s heritage, as well as its contemporary artistic creation, along with recognising and highlighting culture as a national developmental asset and a cornerstone of the country’s intellectual, economic, and social revitalisation, progress, and prosperity, were thoroughly outlined by Mendoni in her address to a large audience attending her lecture. (Cover photo: Hellenic Heritage: the official Gateway to museums and cultural sites, offering guides, tickets, stories, curated experiences, and more)

Lina Mendoni noted that “our heritage must be protected, but not frozen in time. Museums, monuments, and archaeological sites are living parts of society, connected to communities, attracting visitors, and generating cultural, educational, and economic activity. When integrated into everyday life, heritage thrives, creating stronger incentives for its protection and greater social impact.” Regarding cultural heritage and contemporary creation, a key parameter, she added, is that they contribute to economic development, generate income and jobs, attract investment, and strengthen tourism, with which they are closely linked.“ Monuments and museums are not spaces of consumption. They are landmarks embedded in collective memory and identity. They unite generations, foster pride and social cohesion, and project the image of a place beyond national borders,” she emphasised.

(Source: Ministry of Culture, Athens-Macedonian News Agency)

The Minister of Culture, Lina Mendoni in her speech at the Center for Hellenic Studies at Harvard University (Source: Ministry of Culture). Greece’s cultural policy includes main initiatives such as the Cultural Charter for all regions, major restoration and digital transformation projects, expanded cultural tourism, new digital platforms, and strengthened efforts against illegal antiquities trafficking and for the return of the Parthenon Sculptures.

“Cultural Charter of Development and Prosperity” for the 13 Regions of Greece: Vision for Growth and Prosperity

Since 2019, the Greek government has pursued a major shift in cultural management so that Culture serves both its social and developmental role. “The past six years,” the Minister of Culture noted, “we have worked systematically toward implementing a new, flexible, and dynamic model, redefining both the goals and the methods. This approach is grounded in scientific knowledge, data analysis, coherent planning, and realistic programming. It aims for multiplier effects and economies of scale, strengthening innovation, improving effectiveness, and ensuring the efficient use of funding and resources”.

Hellenic Heritage is the new official platform of the Hellenic Ministry of Culture and ODAP (Hellenic Organization of Cultural Resources Development) – a contemporary hub that brings the essence of Greek culture. Available from September 5, 2025, hh.gr serves as the official guide to more than 350 archaeological sites, monuments and museums. Designed from the visitor’s perspective, it offers essential information, integrates all Hellenic Heritage services—Tickets, Experiences and Shop—and supports future digital innovations. With a strong focus on accessibility and inclusivity, hh.gr uses advanced storytelling tools to bring history to life. This launch marks a major milestone in ODAP’s digital strategy, blending tradition with modern technology.

A key initiative is the “Cultural Charter of Development and Prosperity”, designed for all 13 Regions of Greece with a planning horizon to 2030. The Charter serves as an active roadmap tailored to each region and includes major infrastructure projects, cultural funding schemes, and institutional reforms. It places equal emphasis on safeguarding Greece’s tangible and intangible cultural heritage—from ancient monuments and historic sites to modern art and living traditions—and on supporting the cultural expressions that shape Greece’s identity today.

The Charter seeks to transform culture into a strategic asset for recovery, sustainable development and social cohesion—not only in major cities but across every region of the country. It reflects a broader global and European shift toward viewing culture and creativity as engines of innovation, economic vitality and community resilience. By combining infrastructure, regulatory modernization, digital innovation, and active support for contemporary creation, the Charter builds a strong, future-oriented cultural ecosystem that delivers long-term value for Greece and its citizens.

 “The strengthening of cultural tourism is a key objective of the Ministry of Culture and Sports for the Region of Thessaly, as the area is an emerging tourist destination,” emphasized the Minister of Culture and Sports, Lina Mendoni, during the presentation of the Thessaly Development Program, led by Prime Minister Kyriakos Mitsotakis, in Larissa, in February, 2023 (Photo above: From the Prime Minister’s visit to the Ancient Theater of Larissa). The Ministry of Culture, in close collaboration with the Region of Thessaly, is implementing a coherent plan of projects worth 100 million euros, using EU funds and national resourcesand focusing on the protection and restoration of monuments and archaeological sites, as well as the creation of modern museum and cultural infrastructure. Key cultural initiatives include strategic plans to integrate major archaeological sites, such as ancient Demetrias and Byzantine Anchialos, into urban areas. The Ministry created visitable underwater sites in Alonnisos and Western Pagasetic Gulf, including the renowned Peristera shipwreck, recently listed among National Geographic’s top 50 diving destinations. Projects also include: the Diachronic Museum in Trikala; the Integrated Management Plan for Meteora, balancing tourism and monastic life; the restoration of theaters in Phthiotic Thebes, Larissa, and Demetrias; cultural routes through Pelion and Skiathos; and improved access to Theopetra Cave and the Neolithic settlement at Dimini, strengthening Thessaly’s cultural tourism (Source: Ministry of Culture)

A core element of the Charter is its recognition of culture as a lever for regional development, cultural tourism, and job creation. By embedding culture into local and regional economies, the plan aims to strengthen cultural and creative industries, boost visitor flows, generate employment across related sectors, and address long-standing regional inequalities. It also places strong focus on inclusion and equal access, ensuring that cultural infrastructure, services, and experiences are accessible to people with disabilities and responsive to the needs of both urban and rural communities.

Using EU funds (NSRF, RRF) and national resources, the Ministry is carrying out the largest cultural investment program in Greece’s history: over 850 projects with a total budget exceeding €1.3 billion. Completed and ongoing works include the restoration of monuments, conservation of heritage, museum upgrades - since 2019, 28 new or fully restored museums have already opened to the public, with another 28 planned for completion by 2028 - and construction of new cultural infrastructures. These projects support local economies, strengthen social cohesion, promote balanced regional development, and provide thousands of jobs.

In September, 2025, the Ministry of Culture delivered fully restored Christian monuments in the town of Veria: the historic Churches of Saint Anna (upper photos, Guided tour of Minister, LIna Mendoni) and Christ Pantocrator (lower photo). In Imathia (Region of Central Macedonia), from 2019 to today, the Ministry of Culture has completed and is implementing cultural projects amounting to more than 25 million euros, within the framework of its integrated planning. Among other initiatives, these include the Polycentric Museum of Aigai, the restored Palace of Philip II at Aigai, the Virtual Museum ‘Alexander the Great: From Aigai to the Oikoumene,’ the outdoor permanent exhibition at the Archaeological Museum of Veria, the exhibition of the Treasury Hall at the Holy Monastery of Dovra, the conservation and showcasing of the Byzantine Acropolis of Veria, and the conservation and restoration of Christian and Ottoman monuments, also in Veria (Source: Ministry of Culture)

The Virtual Museum “Alexander the Great: From Aigai to the Oikoumene”

Digital innovation in the service of Culture

Digital transformation is another cornerstone of the Charter, modernizing how cultural resources are managed, documented, and presented to the public. Lina Mendoni highlighted the Ministry of Culture’s investment in digital technologies and tools to enhance the management of Greece’s cultural heritage. The Ministry has implemented large-scale projects through the “National Archive of Monuments”, using virtual and augmented reality, collaborations with tech companies like Microsoft and Google, and a strategy to integrate Artificial Intelligence. Key goals include accelerating digitization, improving conservation, preventing illicit trafficking, providing personalized cultural experiences, supporting research with big data, and ensuring ethical standards for transparency and data protection.

The Portal of Digital Collections of Movable Monuments of the Ministry of Culture(National Archive of Monuments) includes objects – movable monuments that primarily originate from the collections of the Museums of the Ministry of Culture and the broader Public Sector. The portal is being gradually updated and provides access to approximately 680,000 registered entries through the Integrated Information System (IIS) of the Ministry of Culture.

The Archaeological Cadastre, also available online, records and documents Greece's immovable monuments, archaeological sites, historical sites, and their protection zones. Today, the Archaeological Cadastre Portal contains descriptive (archaeological, and administrative) and geospatial data for more than 21,500 monuments, approximately 3,400 archaeological sites and historical sites, 844 protection zones and 220 museums.

A huge nationwide digital transformation —more than 27.3 million euros investment — has modernised 107 museums and archaeological sites aiming to more inclusive access, better management, enriched visitor experience, and bridging heritage with digital modernity. This includes unified ticketing & access-control, a “Hellenic Heritage Web App”, digital signage, QR codes, interactive tours in multiple languages (including Greek Sign Language), and AR/VR experiences at flagship sites (e.g. Sounion, Delos, Ancient Agora of Athens, Ancient Olympia, Rotunda of Thessaloniki).

The past comes alive before your eyes!  We tried the innovative #AugmentedReality (AR) application on hh.gr — and the result? Absolutely enchanting! At the Temple of Poseidon in Sounio, AR technology transported us back in time, recreating the site in its original grandeur. An immersive experience that blends history, technology and emotion. (Source: ODAP,  Hellenic Heritage, the official Gateway to museums and cultural sites)

A special mention was also made of the Ministry of Culture’s program for the restoration and adaptive reuse of the former royal estate at Tatoi. Beyond the built environment, the extensive landscaping will transform the site into accessible green spaces for recreation and outdoor activities, promoting sustainable tourism and social engagement. The project preserves the estate’s historical significance while creating a modern destination that integrates culture, nature, and leisure.

The Tatoi Collections  of the former Royal Estate, was recently registered online. It is the largest collection of its kind in Greece, dedicated to fine and applied arts and to Greek history, comprised of more than 70.000 objects that were recorded and documented by the Ministry of Culture at the former royal estate of Tatoi.

Cultural routes

In 2025, Greece launched a major national initiative to create a network of thematic cultural-heritage routes across the country, supported by approximately €50 million in EU Recovery and Resilience funding. This ambitious plan aims to highlight the depth and diversity of Greek history by organizing cultural destinations into coherent, story-driven itineraries that connect different regions and historical periods. The overarching goal of the project is to create meaningful connections between archaeological sites, monuments and local communities, turning them into unified cultural experiences. These cultural-heritage routes aim to offer visitors deeper, more immersive journeys through Greece’s layered past, while generating long-term benefits for the regions they traverse.

 “Monumental Works of Cyclopes and Men”

Five thematic routes have already been defined, each representing a distinct era and cultural narrative—from the Mycenaean world to Byzantine and Ottoman heritage. These include themes such as “Monumental Works of Cyclopes and Men”, showcasing Mycenaean engineering and civilization; “In the Footsteps of Apostle Paul”, following sites linked to early Christianity; the “Cultural Egnatia Road”, tracing the ancient artery that shaped trade and connectivity across the Balkans; and the “Castle Network: From Byzantium to Ottoman Rule”, highlighting fortifications that tell the story of shifting empires and cultural influences. (Source: Ministry of Culture)

 “In the Footsteps of Apostle Paul”

The protection of Greek cultural heritage from illegal trafficking

Mendoni, speaking at Harvard University, also stressed the ministry’s strategic objective: the protection of Greek cultural heritage from illegal trafficking, which is not merely a form of criminal activity but a complex phenomenon linked to organised crime, resulting in the loss, fragmentation, and often irreversible destruction of the historical and cultural memory of nations. The ministry’s strategy focuses on prevention, international cooperation, and the systematic repatriation of antiquities from foreign museums and private collections.

Gallery of the Acropolis Museum in Athens © Acropolis Museum

“This commitment applies even more strongly to Greece’s long-standing request for the return and reunification of the Parthenon Sculptures, which have been kept at the British Museum for more than 200 years. The Greek request for the Sculptures began even before the modern Greek state was officially founded. Over the last six years, however, the landscape has changed significantly. Globally, governments, museums, and civil society increasingly recognise the need to correct historical injustices in the handling of cultural heritage. Our pressure on the UK government and the British Museum’s administration is steadily increasing,” she stressed.

(Source: Ministry of Culture, Athens-Macedonian News Agency)

I.A.

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On December 11, in a historic decision for Greece, the members of the Eurogroup elected Kyriakos Pierrakakis as the new President of this informal group of 20 eurozone finance ministers for the next 2.5 years.

This is the first time that a Greek official has held this position since 2004, when the first permanent President in the history of this institution was elected.

He succeeds Jean-Claude Juncker (2005-2013), Jeroen Dijsselbloem (2013-2018), Mário Centeno (2018-2020), and Paschal Donohoe (2020-2025).

Kyriakos Pierrakakis, who was elected unanimously after his only rival, Belgian Deputy Prime Minister and Minister of Budget, Vincent Van Peteghem, withdrew his candidacy, will also take over as president of the European Stability Mechanism (ESM).

As stated by the European Commissioner for Economy and Productivity, Valdis Dombrovskis, the Greek official’s success is an important symbolic moment for Greece and the euro area, and demonstrates that the country has made a remarkable turnaround, becoming one of euro area’s best performing economies with a budget surplus.

ESM Managing Director Pierre Gramegna echoed this sentiment, stating that this appointment recognises how far Greece has recovered from the financial crisis of the last decade, with the ESM proud to have been a partner in that journey.

In his congratulatory message, France’s Finance Minister Roland Lescure noted that a little over 10 years ago, the Eurogroup had devised and implemented measures to rescue Greece, which at the time was in a very difficult economic and financial situation.

Referring to the election of the Greek Finance Minister, President of the European Council, António Costa, said that Greece has come a long way in the past 10 years.

Upon his election, Kyriakos Pierrakakis stated that the old distinctions between the North and the South, the East and the West, seem to have subsided, while assuring that “in the years ahead, as President of the Eurogroup, my aim will be to keep the Eurogroup a body of unity and shared purpose, focusing on our common currency, our common economic interests and the European project, grounded in the core values of the Union”.

Sources: AMNA, France 24, Council of the European Union

Image source: Ministry of Economy and Finance

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Greece, Bulgaria and Romania's agreement on the Aegean-Black Sea Vertical Corridor, a strategic rail and road axis that will connect the three countries via Alexandroupolis, was signed in Brussels.

The agreement was signed by the EU Commissioner for Sustainable Transport and Tourism, Apostolos Tzitzikostas, the Alternate Minister of Infrastructure and Transport, Konstantinos Kyranakis, the Bulgarian Deputy Prime Minister and Minister of Transport, Grozdan Karadzov, and the Romanian Deputy Minister of Transport, Ionut Cristian Savoiu, marking the strengthening of cross-border cooperation and the launch of a project of high geopolitical and economic importance for the region.

"The Memorandum aims to transform the geographical location into a substantial strategic advantage and to harmonise planning, timetables and financing," EU Commissioner for Sustainable Transport and Tourism, Apostolos Tzitzikostas said, underlining in his speech the crucial role of the Aegean-Black Sea Vertical Corridor in the European transport network. As Tzitzikostas said, a central role in this new framework is played by the Thessaloniki-Alexandroupolis-Bucharest axis, which "will constitute one of the most important strategic arteries in Europe", with critical importance for both connectivity and military mobility of the EU and NATO.

The Commissioner explained that with the active participation of the European Commission, CINEA and the European Investment Bank, a complete joint plan for projects, axes and financing is expected to be in place by the end of 2026. He also stressed that this new cooperation lays the foundations for the most strategic transport axis in South-Eastern Europe, "a first line of defence for the security, economy and resilience of the European Union".

Konstantinos Kyranakis: Strengthening the crucial North–South axis

The Alternate Minister of Infrastructure and Transport, Konstantinos Kyranakis, in his speech referred to the importance of the project, which, as he said, “is a strategic commitment and not a mere formality, as it strengthens a crucial North–South axis, important for trade, strategic security, freight flows and the cohesion of the EU internal market”.

As Mr. Kyranakis emphasized, “the corridor will reconnect historic centres and ports in Athens, Thessaloniki, Sofia, Ruse, Constanta and Bucharest, reviving a route that for centuries shaped trade and strategic movements from the Aegean to the Balkans and Central Europe, and it will do so under modern European standards”.

He also referred to the project’s significance for military mobility, stressing that the agreement accelerates projects that “will make the corridor reliable, fast, safe and sustainable. At the same time, it sends a political message in favour of extending the Trans-European Transport Network to Moldova and Ukraine, strengthening the EU’s geopolitical resilience”.

Mr. Kyranakis also mentioned the completion of the Greek sections, stating that “with national resources and European funding, including Cohesion Funds and the Connecting Europe Facility (CEF), we are promoting projects worth more than 1.3 billion euros up to 2030 for the completion of the Greek sections of the BBA (Baltic–Black Sea–Aegean) Corridor, with a total value of 2.6 billion euros. In addition, funding of 700 million euros is required for complementary infrastructure”.

For their part, the Bulgarian Minister of Transport, Grozdan Karadzhov, and his Romanian counterpart referred to their cooperation with the Commissioner for Transport and the Greek minister on a project that, as they said, relies on the collaboration of member states for investments in infrastructure and military mobility. They emphasized the importance of coordination, interoperability, digitization and efficient border crossing for a more connected and secure Europe.

The signing of the Agreement was also attended by the Vice-President of the European Investment Bank, Marek Mora, who spoke about the project’s financing and the excellent coordination among the member states, while highlighting the importance of the corridor’s implementation for military mobility on the EU’s eastern flank.

 Source: ANA-MPA

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Greece achieves the fastest growth in Europe in the five-year period 2019-2023

According to the statement issued by the Greek Ministry of National Economy and Finance, over the past five years, the Greek economy has made significant progress, achieving top positions in a range of key economic indicators that reflect the noticeable improvement in people’s living standards. Greece has attained one of the fastest rates of growth in the entire EU across several key sectors.

The government does not underestimate the difficulties caused by the global inflationary shock on household purchasing power since 2022, nor does it overlook that wages and salaries still fall short of the European average. However, data shows that since 2019, there has been a transformation of the Greek economy with tangible benefits of growth and a mitigation of inequalities for the benefit of all Greeks. This progress has been recognized by international organizations, foreign governments and analysts.

Several economic indicators used by countries worldwide to reflect their growth and prosperity confirm this reality. Greece, over the last five years, holds 7 top rankings among the 27 EU member-states as a result of its high growth rate, which is among the highest in Europe, as during the period 2019-2023 it has achieved:

1. The largest reduction in the unemployment rate of any EU country.
2. The lowest cumulative increase in consumer prices, meaning the lowest cumulative inflation across Europe.
3. The largest percentage increase in investment volume
4. The largest reduction in the ratio of public debt to GDP.
5. The largest percentage increase in the share of global goods exports.
6. The largest increase in the level of competition, as defined and measured by the OECD.
7. The largest reduction in the yield spread against the German ten-year bond.

Fact 1: Over 500,000 people have found jobs over the last 5 years, according to data from the Ministry of Labor.

Moreover, according to ELSTAT data, the increase in employment has led to a reduction in unemployment by 8 percentage points, from 18% in 2019 to below 10% today, ranking Greece first for the fastest unemployment decline across Europe. This decrease is particularly pronounced among women and youth, who saw their unemployment rates drop by 10 and 16.5 percentage points, respectively. There has also been a significant reduction in the percentage of the long-term unemployed, which has decreased by 15 percentage points from 2019 to 2022 (the latest available Eurostat data). The improvement in living standards in Greece is confirmed by the positive trends in key poverty and social exclusion indicators. Specifically, according to Eurostat data, the index calculating the percentage of the population at risk of poverty and social exclusion fell from 29% in 2019 to 26.1% in 2023, converging notably towards the European average (21.4%).

Fact 2: In the last five years, both the minimum and average wages in Greece have increased more than prices.

Specifically, between 2019 and 2023, the Consumer Price Index (CPI) cumulatively increased by 13.4% and the harmonized CPI by 13.1%, a significantly lower increase than the European average (20.3%). During the same period, according to data from the ERGANI information system, the average wage increased by 20.2%, while the minimum wage has risen by 27.7% since 2019.

Fact 3: Wages and incomes in Greece are increasing, and generally at a faster pace than in Europe.

Net disposable income in Greece has increased for all types of households with working members. Specifically, according to Eurostat data, from 2019 to 2023, annual net earnings in purchasing power units have increased by between 12.3% and 15.7%, depending on the type/composition of the household. In terms of purchasing power, these earnings in 2023 rank 16th among EU 27 member-states in three of the four main reference categories, and 19^th in the fourth. Particularly for workers paid the minimum wage, Greece ranks a middle 12th among 22 member states with a legislated minimum wage in purchasing power units. Even food inflation, which is a more problematic issue compared to average inflation, has shown a downward trend in recent months. Combined with the ongoing rise in wages and incomes, this leads us to expect that disposable income will increase at a faster pace in the foreseeable future. Consequently, the claim that living standards in Greece are second to last in the EU is way off the mark.

Fact 4: Greece shows evidence of a higher rate of increase in individual consumption than the European average.

This is evident from Greece's ranking in actual individual consumption in terms of purchasing power, where in 2023 Greece stands at 79% of the European average, above six other member states. In this regard, Greece shows a higher rate of increase than the European average, with a cumulative change of 23.4% between 2019-2023, compared to 19.4% for the European average.

Fact 5: Real per capita income has increased in Greece at a rate significantly higher than the European average.

According to Eurostat data, between 2019 and 2023, real GDP per capita in Greece has increased by 7.7%, which is more than double the EU average (3.3%) and nearly triple that of the eurozone (2.3%). Even in terms of purchasing power, GDP per capita in Greece is growing faster than the European average. Over the last five years, the increase in Greece has been 22.8% against 20.1% of the EU average.

Fact 6: Greece consistently ranks among the top in absorption rates of European funds.

Greece is leveraging European resources to further enhance development. Notably, as regards the Recovery Fund, it ranks 6th in absorption across the entire EU. By October, it will have absorbed 50% of the resources (total budget of €36 billion). Similar performance is recorded in the National Strategic Reference Frameworks (NSRF) 2021-2027, where Greece ranks 3rd in absorption among EU member-states.

Fact 7: Greek deposits are increasing while household debt is decreasing.

According to data from the Bank of Greece, citizen bank deposits have increased by €27.3 billion in recent years (overall, deposits for citizens and businesses have increased by €50 billion). Additionally, there has been a significant reduction in non-performing household and business debt to banks and funds, from €92 billion in 2019 to €69 billion at the end of 2023.

Greek economic growth is recognized by all major international organizations, as well as global markets investing billions through our shares and bonds, the successful privatization program (including banks), and foreign direct investments exceeding €27 billion in the last five years. Finally, this is reflected in the recovery of the investment grade after thirteen years, a development with significant beneficial consequences for Greece’s borrowing costs and public finances. To give an example of what this means for the cost of this year’s borrowing alone, recovering the investment grade results in savings of approximately €800 million over a decade, which can in turn be invested in health, education, and the social welfare system.

Source: Greek Ministry of National Economy and Finance, full report and tables here (pdf, in Greek).

I.L., Tranlsation: Magda Hatzopoulou

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Greece, Bulgaria, Romania, Hungary, Slovakia, Moldova, and Ukraine all form part of the Vertical Natural Gas Corridor, an ambitious project that aims to enhance energy security in SE and Central Europe and to increase Europe’s energy infrastructure.

Its foundations were laid back in 2022 during the "World LNG Forum and Awards 2022," organized by the Natural Gas System Operators of Greece (DESFA).  The National Operators of Greece (DESFA), Romania (Transgaz), Bulgaria (Bulgartransgaz) and Hungary (FGSZ), together with the Interconnector Greece-Bulgaria (IGB) and the Alexandroupolis Floating Storage and Regasification Unit (FSRU) project operators, signed a Memorandum of Understanding to deepen cooperation in the energy field. Ukraine, Moldova and Slovakia joined the Vertical Gas Corridor last January, in the sidelines of the Ministerial Meeting of Central and Southeastern Europe Energy Connectivity (CESEC) that took place in Athens.

The "Vertical Natural Gas Corridor" is a big gas pipeline system made up of existing and future infrastructure for natural gas. This includes pipelines, terminals for liquefied natural gas (LNG), and natural gas storage facilities. Its purpose is to transfer natural gas from Azerbaijan (through the Trans-Adriatic Pipeline or TAP) and LNG from trusted sources such as the US and Egypt towards Europe. The Vertical Corridor starts in Greece, passes through Bulgaria and reaches countries in Central, Eastern, and Southeast Europe, helping them to reduce and phase out their dependence on Russian hydrocarbons.

The illegal and unprovoked attack on Ukraine has elevated the issue of European energy security into a very high priority. At the same time, devastating wildfires and floods in Greece and the Mediterranean have highlighted the challenge of climate change and the need for transition to cleaner energy sources. Decreasing Europe’s reliance on Russian hydrocarbons and tackling climate change are major priorities.

Greece's geographical location and its proximity to major gas-producing regions, such as the Eastern Mediterranean, further enhance its role in the vertical gas corridor.

In October 2022, a big moment for the "Vertical Natural Gas Corridor" was the inauguration of the Greece-Bulgaria Natural Gas Interconnector (IGB), a milestone project that is reshaping the "energy map" of the wider region. Additionally, the Alexandroupolis floating, storage, and regasification unit (FSRU) that is Greece’s second import gate of liquefied natural gas - following the recently upgraded Revithoussa terminal - will soon become fully operational. Greece thus expects to double its LNG liquefaction capacity, further positioning itself as a crucial transit hub for gas supplies destined for Europe. As such, Greece stands to play a pivotal role in shaping the future of Europe's energy landscape through the development of the vertical gas corridor.

This is an article taken from Greece In America, the official newsletter of the Embassy of Greece in Washington.

Read also via Greek News Agenda: Alexandroupolis: a new energy and transportation hub for Greece;  Marika Karagianni: “Greece can become a natural gas transportation hub”

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Maira Myrogianni was appointed as Secretary General for International Economic Affairs in the Greek Ministry of Foreign Affairs on July 2023. She is a graduate of the School of Law of the National and Kapodistrian University of Athens and of the Faculty of Law of the University of Lille II in France. She is also a PhD candidate at the Faculty of Social and Political Sciences of the University of Peloponnese, her scientific interests focusing on the fields of Human Rights and European Law.

Maira Myrogianni has a wide and diverse experience in public administration, having served for several years as a legal advisor for international relations to the Ministry of Foreign Affairs, the Ministry of Maritime Affairs, the Ministry of Culture & Sports, the Ministry of National Defense and the Ministry of Labor & Social Affairs.

Secretary General Myrogianni spoke to Greek News Agenda* on Greece’s comparative advantages and why it attracts foreign investments at such high rate; the Greek economy’s more competitive sectors and its openness to international trade and markets; the importance of reforms outlined in the National Strategic Plan for Extroversion; how Greece has established itself as a digital innovation hub as well as an energy hub for Southeastern Europe, and is among the more climate-ambitious EU member states. Finally, the Secretary General spoke on the goals and initiatives of Enterprise Greece, the national state agency responsible for attracting foreign direct investment and promoting Greek exports.

What do you think are Greece's comparative advantages? Why should someone invest in our country?

Our country is now considered a leading investment destination attracting large-scale investments. It's not just momentum and favorable conditions that contribute to this, but other important factors as well, such as the improvement of the macroeconomic environment and the brave reforms promoted by the government, including rapid digital transformation, the reform of the tax system and the expansion of  available financing tools (National Recovery and Resiliency Plan - Greece 2.0). At the same time, more than 1,500 public services were digitized, which contributed to speeding up the necessary administrative procedures for making an investment.

One of the country’s main comparative advantages is the availability of professionals  that are highly trained, academically qualified, and proficient in multiple languages, while, according to recent data from the Ernst & Young “European Investment Monitor,”  most prominent among the country's appealing factors are: quality of life (75%), transport infrastructures and logistics (73%), telecommunications infrastructure / digital infrastructure (72%), Greece’s internal market (72%), and, as mentioned, skilled human resources (70%).

It is also worth bringing up the reform of investment incentives, both with the promotion of the new Development Law in 2022 that offers competitive investment incentives in the form of tax breaks, grants, wage and other subsidies, as well as with the substantial improvement of the framework for strategic investments, where investors can also enjoy an extremely wide range of incentives.

What are the most competitive productive sectors of the Greek economy and the most important markets for Greek exports? Are they venturing into new markets and if so, which ones?

Tourism, shipping, and agriculture by tradition comprise the Greek economy’s competitive sectors, while other strong productive sectors include the food and agri-food industry, energy production, management and conservation, construction and building materials, information and communication technologies (ICT).

In 2022, 55.1% of the country's total exports was directed to the European Union, demonstrating the bloc’s special significance for Greek foreign trade, while other very important markets include geographically distant countries, such as the United States of America, China, Canada, and the United Arab Emirates.

In addition, there are ventures into new markets in Southeast Asia and Sub-Saharan Africa. For example, I recently visited Jakarta where I participated in the Indonesia-Europe Business Forum 2023 and presented on the occasion the opportunities that our country offers, especially in the areas of shipping, transport & interconnectivity, energy transition & Renewable Energy Sources and tourism. While in Jakarta, I also had the chance to discuss the promotion of bilateral economic and trade relations between Greece and Indonesia with political leaders and businesses entities.

Could one say that Greece has built a brand name in the investment sector, for example as a hub for technological/green investments or as a bridge between Europe and Asia in the framework of the National Strategic plan for Extroversion?

It is clear that the Greek success story has attracted investors to Greece, but also that Greek companies have become more extroverted, thanks also to the reforms outlined in the National Strategic Plan for Extroversion. The creation of a Greek brand name in the investment sector is now something tangible.

In recent years, Greece has been promoted as a digital innovation hub, with significant strategic investments in the field of IT and digital technology. What’s more, our country has been successfully positioned internationally as an energy hub in the wider region of Southeast Europe, thanks to its key geo-strategic position but also to the design and implementation of high-potential international connections, both in the electricity and natural gas markets.

Moreover, Greece is among the more climate-ambitious EU member states, supporting the goal of reducing emissions by at least 55% (as compared to 1990) by 2030, with the ultimate goal of achieving climate neutrality by 2050. The ambitious National Climate and Energy Plan (NECP) and the National Climate Adaptation Strategy (establishment of a National Council and preparation of regional adaptation plans), are fully consistent with ecological and other EU priorities, and in particular with the European Green Deal.

The National Strategy for Extroversion is a necessary tool for coordinating the country's extroversion initiatives, but also an important tool for identifying and classifying target markets, actions and priority sectors for the Greek government and Greek enterprises, with the aim of supporting extroverted businesses and the organized promotion of the country's international position and image. This is the road map for Greece's extroversion actions.

Out of the 779 initiatives in total included in the 2023 National Strategic Plan for Extroversion, 130 concern the energy, environment and technology sectors, while the majority of initiatives (470) focus on the countries of Europe, the Balkans and the Middle East.

Could you briefly describe the goals Enterprise Greece? What initiatives has the organization planned for 2024 to attract new investments and reinforce the extroversion of Greek businesses and foreign trade?

Enterprise Greece, as the national state agency responsible for attracting foreign direct investment and promoting Greek exports, takes care every year to formulate the appropriate strategy relating to target markets, promotion sectors and types of business activities, depending on both the country’s needs and international conditions. We have laid the foundations for a new development model, which favors domestic entrepreneurship as well as direct foreign investments. The pillars of our development strategy focus on digital and green economy, but also on promoting social equity and long-term sustainability.

For 2024, our business planning includes a series of actions, such as holding targeted investment seminars or forums; organizing national participation in important sectoral investment exhibitions abroad; preparing and planning one-on-one meetings with international investors and organizing trade missions. At the same time, we continue to maintain and update an extensive portfolio of investment opportunities which currently includes 419 projects in various sectors of the economy.

Regarding the export sector, Enterprise Greece has designed and provides to export-oriented businesses an integrated, coherent program of services, actions and tools. The program focuses on providing three types of services: Networking, Training & Empowerment and Consulting & Information. It is also worth mentioning that Enterprise Greece has recently launched a new service for Greek exporters and potential export companies, the Export Help Desk, an innovative online platform offering daily updates to exporters on issues and procedures of foreign trade, as well as on the implementation of training programs.

Given the increase in foreign investment, as well as the new wave of investment expected following the recent recovery of Greece’s investment grade, in which areas does Enterprise Greece expect interest to be focused on in 2024?

It is a fact that Greece’s performance as regards direct foreign investment in recent years has been impressive. Greek exports have recorded a historic high: During the 3-year period 2020-2022, exports of goods increased by 77.6%, reaching a momentous 55 billion euro in 2022 (from 30.8 billion euro in 2020). These achievements of the Greek economy are expected to lead to a new investment wave, not only in its traditionally strong sectors like tourism, shipping and agriculture, but  also  in knowledge-intensive sectors, such as technology, research and development, health sciences, interdisciplinary innovation and start-up entrepreneurship.

We have already seen the first important instances of this, both with the dynamic investment entry into Greece of large multinationals corporations such as Microsoft, Google, Pfizer Cisco, HP, Digital Realty, Accenture and Deloitte in the fields of research, development and innovation, as well as with the significant investment wave attracted by the rapidly growing startup ecosystem in the country. It is worth noting that in 2021, the startup ecosystem attracted investments amounting to 540 million euro, while in 2022 the corresponding amount exceeded 325 million euro. It is worth noting that the vast majority (73%) of these investments were from abroad. In terms of target sectors, our operational action plan for 2024 aims at countries with significant investment potential –according  to official data from the OECD and the Bank of Greece–  while emphasizing sectors where Greece has a comparative advantage and in which significant investment mobility is observed, as for instance in tourism and real estate, IT and communication technologies, health sciences, agri-food, smart manufacturing, energy (RES, but also thermal production, electricity and natural gas networks, hydrocarbon research and development), environmental technologies, supply chain, business service centers and audiovisual productions.

* Interview to Ioulia Livaditi | Translation from Greek to English: Ioulia Livaditi; Editing: Magda Hatzopoulou

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For the second consecutive time, Greece has been elected to the top spot of the Council of IMO, the International Maritime Organization. Greece secured the first place with 146 in 162 valid votes in Category "A" of the IMO Council, a global recognition of the reliability of Greece, which counts itself among the founding countries since 1958 as a provider of quality maritime services.

Category "A" is reserved for countries with the greatest stakes in the supply of maritime transport services. The successful outcome of the vote, held in the framework of the 33rd Assembly of the Organization, is due to the combined efforts of the Ministry of Maritime Affairs and Insular Policy and the Ministry of Foreign Affairs.

As Greece has been one of IMO's founding members since 1958 (with the exception of 1977) it is consistently elected in the "A" category due to the size of its merchant fleet. Recognizing the role of the IMO in regulating all matters relating to international shipping, Greece actively participates in the formation of maritime legislation with a constant presence in the work of the committees - subcommittees of the Organization, submitting proposals that regulate maritime activity in a realist manner. The purpose of the proposed regulations is their universal validity for all ships, regardless of flag (flag neutral) in addition to ensuring a level playing field.

On the occasion of Greece's re-election to the "A" category of the IMO Council, Christos Stylianidis, Minister of Maritime Affairs and Insular Policy, stated that "The re-election of Greece to the first place in the IMO "A" category for the second consecutive time is an extremely important achievement of our country at a critical and difficult time for international shipping. It confirms in the most emphatic way Greece's trustworthiness and reliability, as well as our country's excellent cooperation with the Organization and its member states. At the same time, it seals Greece's dynamic and leading role in world maritime transport, as well as its decisive and long-term contribution to the formation of international maritime policy and legislation, through the submission of pragmatic and realistic proposals and our continuous engagement and active presence in the work of the Committees - Subcommittees of the body. I express my heartfelt thanks to the IMO Member States who have honored us with their trust and vote. Greece, with a high sense of responsibility, will continue to play a leading role and support dynamically and constructively the implementation of IMO's goals for safe, energy efficient, "green" and sustainable international shipping [...].

The election process to appoint the 40 IMO Council members for the 2024 term was held on Friday, December 1, 2023. Elected in Category "A" were, in order of election: Greece, Italy, Japan, China, Norway, Panama, Dem. of Korea, United Kingdom, United States, and Liberia. The IMO Assembly is held every two years and is the supreme body of the Organization.

As a specialized agency of the United Nations, IMO is the global standard-setting authority for the safety, security and environmental performance of international shipping. As such, the Organization contributes to international action to address climate change by regulating GHG emissions from international shipping. In other words, it aims to create a level playing field so that ship operators can address their problems without compromising safety, security and environmental performance. This approach also encourages innovation and efficiency.

IMO measures cover all aspects of international shipping – including ship design, construction, equipment, manning, operation and disposal – to ensure that this vital sector for remains safe, environmentally sound, energy efficient and secure.

Source: Press release of the Ministry of Maritime Affairs and Insular Policy

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The Island

Crete is the largest island in Greece and the fifth largest in the Mediterranean; it is a magnet for millions of tourists, who come to enjoy its unique beauty, local hospitality, its warm climate and its beautiful beaches and clear waters.

One of Europe's earliest civilizations flourished on Crete from about 3000 BC to 1400 BC. A century ago, Arthur Evans' excavations unearthed the wonder of the Minoan civilization and the oldest architectural monument in Europe, the Palace of Knossos. For many centuries, the island has been a crossroads of peoples and cultures, and has been subject τo conquest and conflict, from the roman times to World War II.

Crete is home to the most historic vineyard in Europe, if not the world

Grapes have been systematically cultivated in Crete for around 4,000 years; their presence and contribution to the island's economic and social life has been continuous from the earliest Minoan years to the present.

It is no coincidence that the oldest grape press, more than 3,500 years old, was discovered at the Minoan archaeological site of Vathypetro, in the wider Heraklion region. From Homer, we know that Cretan wines were famous throughout the then-known world. In addition to the 3,500-year-old wine press, impressive amphorae, huge underground storerooms, depictions of vineyards and wine in murals, but also countless records of large quantities of wine in the Minoan archives, all point not only to the central role that wine played in the life of the island, but also to the high level of knowledge of the Minoans on the subject.

Crete is home to one of the largest vineyards in Greece, both in terms of area and production volume. It is the most historic one in Europe, if not the world. Archaeological excavations and historical and archival research have shown that from Minoan times until today, the vineyard of Crete has existed continuously and uninterruptedly and has been in constant production. It is therefore natural that vines and wine are inextricably linked to the daily lives of the inhabitants of Crete and to multiple aspects of their public and private lives.

Cretan wine became known outside of the island. The Minoans sailed all over the Mediterranean, with their ships laden with the products of the Cretan soil, reaching the court of the most powerful man in the ancient world, the Egyptian pharaoh: in Egyptian frescoes we see Cretans arriving with their ships in Egyptian ports. Amphorae, probably filled with Cretan wine, also stand out among the goods. In the wreck of one such ship, discovered by archaeologists off the coast of Turkey, an over 3,000-year-old amphora of this type was discovered, still sealed and full of wine.

The Roman Empire conquers Crete and Cretan wine conquers Rome

When Crete became a province of the Roman Empire, the Romans realized that their need for wine, which they particularly loved, was so great that it could not be covered by the vines of the Italian peninsula. They therefore turned to Crete and its plains and hills, which were gradually transformed into huge vineyards, while Cretan winemakers increasingly improved their winemaking methods and produced excellent sweet wines, which, through Rome, conquered all the then known world . Many Greek and Latin writers of the time praised Cretan wine, believed to have medicinal properties. The numerous Cretan amphorae found are indisputable witnesses to this ancient commercial success. One of them, in fact, found in Pompeii, still bears on its mouth the Latin inscription "CRET EXC," which, according to scholars, means "Excellent Cretan wine".

Venetian and Ottoman era

As Christianity began to slowly spread throughout the world, the pagan Roman Empire went into decline. Greece, along with a large part of the eastern Mediterranean, became part of the Byzantine Empire, and Crete became embroiled in a series of wars and conflicts that did not favor the cultivation of vines and the production of wine. Crete was eventually conquered by the Venetians in 1204. In Byzantine Greece, the production and especially the exports of wine suffered greatly. However, Crete, which in fact benefited from the security of trade networks offered by the Venetians, began the second -and largest- "invasion" of European wine markets in its long history.

Cretan winemaking and exports flourished under Venetian rule. More than 20,000 bottles of premium quality wine were exported each year. Half a century later, exports would reach 60,000 barrels. In 1669 Crete was conquered by the Ottomans. For the next two centuries the picture of wine production in Crete is unclear, but Islam's prohibition of alcohol consumption could only have had negative consequences.

Cretan wine in the 20th century

Crete was freed from Ottoman rule at the end of the 19th century. The island's new autonomous administration, quite progressive and independent, promoted with all its might the reorganization and modernization of its agricultural production. Thus began the revival of wine production. At the international exposition organized in Chania in the early 20th century to promote new Cretan products to Western markets, 18 winemakers are awarded for the quality of their wines.

In 1913 Crete was annexed to the Greek state. However, Greece's troubled history in the following decades, riddled by successive wars, was not helpful for exports, a fact particularly true for wine. Despite those obstacles, Cretan winemaking tradition survived thanks to the power of family. Even today, many of the modern wineries that produce and export these wines, which are increasingly well known in foreign markets and awarded in international competitions, come from large and medium-sized landowning family businesses that have kept the tradition and love of wine alive.

Today

In modern times, Cretan wine has won the attention and preference of the broader consumer public. Cretan wines are a precious legacy of traditional varieties, perfectly adapted to the island's climate conditions. The plethora of local varieties, the diversity and uniqueness of the various wine regions, and also the great tradition of the Cretans in wine are the foundations for the current quality of Cretan wine and its continued upward trend.

Cretan vineyards cover 12.8% of Greece's wine regions and rank 3rd among the country's 9 wine-growing areas. The geographical indications for Cretan wines are as follows:

PDO Malvasia Sitia – Lasithi

PDO Peza – Heraklion

PDO Archanes – Heraklion

PDO Dafnes – Heraklion

PDO Malvasia Handakas-Candia – Heraklion

However, this tradition would not have lasted this long without expertise and technology. Cretan winemakers have taken new developments seriously, as well as consumer preferences. The new generation of winemakers, viticulturists, etc., who seek to improve the image of Cretan wine in all its aspects has greatly contributed to this. Cretan wine remains at the forefront of Greek wine production, having known the most substantial and impressive development in this regard compared to any other region in the country.

Info and image source: www.winesofcrete.gr

Read also via Greek News Agenda: Wine routes of northern Greece – Chalkidiki; Discover Wines of Greece; There are over 100 Greek PDO products

N.M. (Translated from an original article in Punto Grecia)

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