The impact of Foreign Companies in Greece and Cyprus

Eurostat has joyfully announced the significant impact of foreign companies on the European Union's economy in 2023, including their notable presence in Greece and Cyprus. According to the latest data from the agency, although the percentage of enterprises under foreign control in these countries is below the EU average, their influence is still noticeable and positive.

While the percentage of enterprises under foreign control in Greece (7.5%) and Cyprus (7.8%) may seem modest, these figures do not reflect the whole picture. On the contrary, they highlight the unique opportunities provided to local residents thanks to the presence of foreign companies.

Even with such a small share of enterprises under foreign control in these countries, they play a significant role in the development of the local economy. This provides additional employment opportunities and contributes to career growth for citizens of Greece and Cyprus. Moreover, the presence of foreign companies contributes to the diversity of the business environment and facilitates the exchange of experience and knowledge.

It is also worth noting that the presence of foreign companies can stimulate local competition and innovation, thereby enhancing the quality of goods and services offered in the market.

Thus, even with a small number of foreign companies in Greece and Cyprus, their presence has a positive impact on the local economy and society, creating additional opportunities for development and growth.

Subscribe to our newsletter