Editing Greece (section)

== Economy ==
{{Main|Economy of Greece |List of Greek subdivisions by GDP}}

[[File:GDP per capita development of Greece.svg|thumb|upright=1.3|GDP per capita development]]

{{As of|2023}}, the economy was the [[List of countries by GDP (PPP)|54th]] largest by [[purchasing power parity]] (PPP) at $417&nbsp;billion.<ref>{{Cite web |title=Report for Selected Countries and Subjects |publisher=[[International Monetary Fund]] |url=https://www.imf.org/en/Publications/WEO/weo-database/2023/October/weo-report |access-date=11 October 2023 |url-status=live |archive-date=2 January 2024 |archive-url=https://web.archive.org/web/20240102105412/https://www.imf.org/en/Publications/WEO/weo-database/2023/October/weo-report}}</ref><ref name="World Bank GDP (PPP)">{{cite web|title=Gross domestic product 2013, PPP|publisher=World Bank |url=http://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD/countries/order%3Dwbapi_data_value_2013%20wbapi_data_value%20wbapi_data_value-last?order=wbapi_data_value_2012%20wbapi_data_value%20wbapi_data_value-last&sort=desc&display=default|access-date=14 February 2015 |date=14 February 2015|archive-date=10 June 2024|archive-url=https://web.archive.org/web/20240610022241/https://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD|url-status=live}}</ref> Greece is the 15th largest economy in the 27-member [[European Union]].<ref>{{cite web|title=Gross domestic product at market prices (tec00001) |publisher=[[Eurostat]] |url=http://epp.eurostat.ec.europa.eu/portal/page/portal/national_accounts/data/main_tables |access-date=22 February 2012 |archive-url=https://web.archive.org/web/20120814000208/http://epp.eurostat.ec.europa.eu/portal/page/portal/national_accounts/data/main_tables |archive-date=14 August 2012 }}</ref> In per person income, Greece is [[List of countries by GDP (PPP) per capita|51st]] in the world at $40,000. The economy is advanced<ref name="Advanced economies">{{cite web| title= World Economic Outlook |publisher=[[International Monetary Fund]] |url=http://www.imf.org/external/pubs/ft/weo/2011/02/pdf/text.pdf |access-date=23 February 2012 |url-status=live |archive-url=https://web.archive.org/web/20111018203844/http://www.imf.org/external/pubs/ft/weo/2011/02/pdf/text.pdf |archive-date=18 October 2011}}</ref><ref>{{cite web |date=April 2013 |title=Groups and Aggregates Information |website=World Economic Outlook Database |url=http://www.imf.org/external/pubs/ft/weo/2013/01/weodata/groups.htm#ae |publisher=[[International Monetary Fund]] |access-date=10 September 2013 |archive-date=11 May 2013|archive-url=https://web.archive.org/web/20130511003233/http://www.imf.org/external/pubs/ft/weo/2013/01/weodata/groups.htm#ae|url-status=live}}</ref><ref>{{cite web|title=Appendix B: International Organizations and Groups|website=[[The World Factbook]]|publisher=[[Central Intelligence Agency]] |url=https://www.cia.gov/library/publications/the-world-factbook/appendix/appendix-b.html|archive-url=https://web.archive.org/web/20070613023714/https://www.cia.gov/library/publications/the-world-factbook/appendix/appendix-b.html |archive-date=13 June 2007|access-date=10 September 2013}}</ref><ref name="High income economies">{{cite web |title=Country and Lending Groups – Data |url=http://data.worldbank.org/about/country-classifications/country-and-lending-groups|publisher=World Bank |access-date=3 August 2017 |archive-url=https://web.archive.org/web/20110318125456/http://data.worldbank.org/about/country-classifications/country-and-lending-groups |archive-date=18 March 2011}}</ref><ref>{{cite web|title=WEO Groups and Aggregates Information |date=8 April 2014 |url=http://www.imf.org/external/pubs/ft/weo/2014/01/weodata/groups.htm#ae|website=[[World Economic Outlook]] Database |publisher=[[International Monetary Fund]]|access-date=2 August 2014 |location=Washington, D.C.|archive-date=15 May 2021|archive-url=https://web.archive.org/web/20210515145400/https://www.imf.org/external/pubs/ft/weo/2014/01/weodata/groups.htm#ae|url-status=live}}</ref> and [[high income economy|high-income]].<ref>{{cite web|title=Country and Lending Groups |url=http://data.worldbank.org/about/country-and-lending-groups#OECD_members|publisher=[[World Bank]]|access-date=2 August 2014|location=Washington, D.C.|archive-date=2 July 2014|archive-url=https://web.archive.org/web/20140702131322/http://data.worldbank.org/about/country-and-lending-groups#OECD_members|url-status=live}}</ref><ref name="High income economies"/>

Greece is a [[developed country]] with a high [[standard of living]] and high ranking in the [[Human Development Index]].<ref>[http://www.newsweek.com/2010/08/15/interactive-infographic-of-the-worlds-best-countries.html The world's best countries: 2010 index] {{Webarchive|url=https://web.archive.org/web/20110728092003/http://www.newsweek.com/2010/08/15/interactive-infographic-of-the-worlds-best-countries.html |date=28 July 2011 }}, ''Newsweek''. Accessed on line 15 August 2010.</ref><ref>{{cite news|title=The lottery of life |url=https://www.economist.com/news/21566430-where-be-born-2013-lottery-life|newspaper=The Economist|access-date=2 August 2014|location=London |date=21 November 2012|archive-date=20 July 2014|archive-url=https://web.archive.org/web/20140720232712/http://www.economist.com/news/21566430-where-be-born-2013-lottery-life|url-status=live}}</ref><ref>{{cite web|title=Table 1: Human Development Index and its components|date=24 July 2014 |url=http://hdr.undp.org/en/content/table-1-human-development-index-and-its-components|website=Human Development Report 2014 |publisher=[[United Nations Development Programme]]|access-date=2 August 2014 |location=New York|archive-date=20 November 2015 |archive-url=https://web.archive.org/web/20151120074644/http://hdr.undp.org/en/content/table-1-human-development-index-and-its-components}}</ref> Its economy mainly comprises the [[service sector]] (85%) and [[industrial sector|industry]] (12%), while agriculture makes up 3%.<ref name="GDP by sector">{{cite web|title=Gross Added Value by Industry (A17; Years 2000–2011) |url=http://www.statistics.gr/portal/page/portal/ESYE/PAGE-themes?p_param=A0702&r_param=SEL12&y_param=2011_00&mytabs=0 |publisher=Hellenic Statistical Authority |access-date=22 March 2012 |location=Piraeus |url-status=dead |archive-url=https://web.archive.org/web/20121113221602/http://www.statistics.gr/portal/page/portal/ESYE/PAGE-themes?p_param=A0702&r_param=SEL12&y_param=2011_00&mytabs=0 |archive-date=13 November 2012}}</ref> Important Greek industries include [[Tourism in Greece|tourism]] (with 33&nbsp;million<ref>{{cite web |title=World Tourism Barometer |date=May 2024 |url=https://pre-webunwto.s3.eu-west-1.amazonaws.com/s3fs-public/2024-06/Barom_PPT_May_2024.pdf?VersionId=U7O62HatlG4eNAj.wcmuQG1PMCjK.Yss |publisher=[[World Tourism Organization]] |access-date=24 June 2024 |page=19}}</ref> international tourists in 2023, it is the [[World Tourism rankings|9th most visited country in the world]]) and [[Greek Merchant Navy|merchant shipping]] (at 18% of the world's total capacity,<ref name="auto">{{Cite web |title=Handbook of Statistics 2022 - Fact sheet #14: Merchant Fleet |publisher=UN Trade and Development |url=https://unctad.org/system/files/official-document/tdstat47_FS14_en.pdf#:~:text=URL%3A%20https%3A%2F%2Functad.org%2Fsystem%2Ffiles%2Fofficial |access-date=15 April 2024 |url-status=live |archive-date=9 May 2024 |archive-url=https://web.archive.org/web/20240509172958/https://unctad.org/system/files/official-document/tdstat47_FS14_en.pdf#:~:text=URL%3A%20https%3A%2F%2Functad.org%2Fsystem%2Ffiles%2Fofficial}}</ref> the Greek merchant marine is the largest in the world), while the country is a considerable agricultural producer (including fisheries) within the union. In 2021 unemployment stood at 13% and [[youth unemployment]] at 33%, compared with respectively 7% and 16% in the EU and eurozone.<ref>{{cite web|title=Euro area unemployment at 7.3% |url=https://ec.europa.eu/eurostat/documents/2995521/11563391/3-02122021-AP-EN.pdf/6ebfe4d6-d2e1-372b-1556-3bf4174422dc |archive-url=https://web.archive.org/web/20211202110106/https://ec.europa.eu/eurostat/documents/2995521/11563391/3-02122021-AP-EN.pdf/6ebfe4d6-d2e1-372b-1556-3bf4174422dc |archive-date=2 December 2021 |url-status=live|publisher=[[Eurostat]]}}</ref>

Greece has the largest economy in the Balkans,<ref name=BalkanInsight>{{Cite news |url=http://www.balkaninsight.com/en/article/albania-businesses-seek-new-markets-as-greek-crisis-hits-home |newspaper=Balkan Insight |date=11 July 2012 |first1=Besar |last1=Likmeta |last2=Birn |first2=Gjirokastra |title=Albania Eyes New Markets as Greek Crisis Hits Home Businesses affected by the economic downturn in Greece are seeking new markets in the West, hoping that a cheap and qualified labour force will draw fresh clients |quote=Greece is the Balkan region's largest economy and has been an important investor in Southeast Europe over the past decade |access-date=18 April 2014 |archive-date=6 October 2018 |archive-url=https://web.archive.org/web/20181006205215/http://www.balkaninsight.com/en/article/albania-businesses-seek-new-markets-as-greek-crisis-hits-home |url-status=live}}</ref><ref name=Keridis>{{cite web |title=Greece and the Balkans: From Stabilization to Growth |first=Dimitris |last=Keridis |url=http://users.uom.gr/~keridis/files/article/article10.doc |quote=Greece has a larger economy than all the Balkan countries combined. Greece is also an important regional investor |type=lecture |publisher=Hellenic Studies Unit at Concordia University |place=Montreal, QC, Canada |date=3 March 2006 |access-date=17 May 2014 |archive-date=17 May 2014 |archive-url=https://web.archive.org/web/20140517145243/http://users.uom.gr/~keridis/files/article/article10.doc |url-status=live}}</ref><ref>{{cite web |title=The Greek and EU Crisis for non-economists |url=http://www.stern.nyu.edu/networks/Economides_Greek_and_EU_Crisis_Sacramento_04262013.pdf |archive-url= https://web.archive.org/web/20130619151639/http://www.stern.nyu.edu/networks/Economides_Greek_and_EU_Crisis_Sacramento_04262013.pdf |archive-date=19 June 2013 |url-status=live|author=Nicholas Economides |quote=Largest economy than all rest of Balkans combined}}</ref> and an important regional investor.<ref name= BalkanInsight /><ref name=Keridis /> It has been the number-two foreign investor of capital in Albania and most important trading partner and largest foreign investor of North Macedonia.<ref name="AydinIfantis2004">{{cite book|author1=Mustafa Aydin |author2=Kostas Ifantis|title=Turkish-Greek Relations: The Security Dilemma in the Aegean|url=https://books.google.com/books?id=NuyWdJfQf4kC&pg=PA267|access-date=27 May 2013|date=28 February 2004|publisher=Taylor & Francis|isbn=978-0-203-50191-7|pages=266–267 |quote=second largest investor of foreign capital in Albania, and the third largest foreign investor in Bulgaria. Greece is the most important trading partner of the Former Yugoslav Republic of Macedonia.}}</ref><ref name="Thompson2012">{{cite book |author=Wayne C. Thompson|title=Western Europe 2012 |url=https://books.google.com/books?id=lKCMvYFQCCMC&pg=PA283 |access-date=27 May 2013|date=9 August 2012|isbn=978-1-61048-898-3 |page=283|publisher=Stryker Post |quote=Greeks are already among the three largest investors in Bulgaria, Romania and Serbia, and overall Greek investment in the ... Its banking sector represents 16% of banking activities in the region, and Greek banks open a new branch in a Balkan country almost weekly.}}</ref> The Greek telecommunications company [[OTE]] has become a strong investor in other Balkan countries.<ref name="Bell2002">{{cite book|author=Imogen Bell|title=Central and South-Eastern Europe: 2003|url=https://books.google.com/books?id=4CrpzRJCbckC&pg=PA282 |access-date=27 May 2013 |year=2002 |publisher=Routledge|isbn=978-1-85743-136-0|page=282|quote=show that Greece has become the largest investor into Macedonia (FYRM), while Greek companies such as OTE have also developed strong presences in countries of the former Yugoslavia and other Balkan countries.}}</ref>

Greece was a founding member of the [[OECD]] and the [[Organization of the Black Sea Economic Cooperation|Organisation of the Black Sea Economic Cooperation]] (BSEC). In 1979, its accession to the [[European Communities]] and the [[Internal Market (European Union)|single market]] was signed, and completed in 1982. Greece was accepted into the [[Economic and Monetary Union of the European Union]] in June 2000, and in January 2001 adopted the euro as its currency, replacing the [[Modern drachma|Greek drachma]].<ref name="Drachma exchange rate">{{cite web|title=Fixed Euro conversion rates |url=http://www.ecb.int/euro/intro/html/index.en.html |publisher=European Central Bank|access-date=23 February 2012 |archive-date=10 July 2013 |archive-url=https://web.archive.org/web/20130710012301/http://www.ecb.int/euro/intro/html/index.en.html |url-status=live}}</ref> Greece is a member of the [[International Monetary Fund]] and the [[World Trade Organization|World Trade Organisation]].

=== Debt crisis (2010–2018) ===
{{Main|Greek government-debt crisis}}
[[File:Greek debt and EU average since 1977.png|upright=1.4|thumb|Greece's debt percentage since 1977, compared to the average of the [[eurozone]]]]
Greek economy had fared well (with high growth rates and low public debt) during most of the 20th century; high growth rates were maintained up to the [[2008 financial crisis]], coupled, however, with high structural [[Government budget balance|deficit]]s.<ref name="Debt Past">{{cite web |last=Skartsis|first=Labros |date=2018|title=2010–2018 Greek Debt Crisis and Greece's Past: Myths, Popular Notions and Implications |url=https://www.academia.edu/37583185 |website=Academia.edu |access-date=14 October 2018 |url-status=live |archive-date=4 May 2023 |archive-url=https://web.archive.org/web/20230504051355/https://www.academia.edu/37583185/2010_2018_Greek_Debt_Crisis_and_Greeces_Past_Myths_Popular_Notions_and_Implications}}</ref> In 2009, it was revealed deficits had been considerably higher than official figures.<ref name=":3" /> Banks had supplied cash in exchange for future payments by Greece and other Eurozone countries; in turn the liabilities of the countries were "kept off the books", hiding borrowing levels.<ref>{{cite news |author=Louise Story |author2=Landon Thomas Jr. |author3=Nelson D. Schwartz |date=13 February 2010 |title=Wall St. Helped to Mask Debt Fueling Europe's Crisis |newspaper=[[The New York Times]] |url-access=subscription |url= https://www.nytimes.com/2010/02/14/business/global/14debt.html |quote=In dozens of deals across the Continent, banks provided cash upfront in return for government payments in the future, with those liabilities then left off the books. Greece, for example, traded away the rights to airport fees and lottery proceeds in years to come. |access-date=19 February 2017 |url-status=live |archive-date=12 August 2021 |archive-url=https://web.archive.org/web/20210812074010/https://www.nytimes.com/2010/02/14/business/global/14debt.html}}</ref><ref>{{cite news |author1=Nicholas Dunbar |author2=Elisa Martinuzzi |date=5 March 2012 |title=Goldman Secret Greece Loan Shows Two Sinners as Client Unravels |publisher=Bloomberg L.P. |url=https://www.bloomberg.com/news/2012-03-06/goldman-secret-greece-loan-shows-two-sinners-as-client-unravels.html |quote=Greece actually executed the swap transactions to reduce its debt-to-gross-domestic-product ratio because all member states were required by the Maastricht Treaty to show an improvement in their public finances," Laffan said in an e-mail. "The swaps were one of several techniques that many European governments used to meet the terms of the treaty." |access-date=7 March 2017 |archive-date=13 January 2015 |archive-url=https://web.archive.org/web/20150113111834/http://www.bloomberg.com/news/2012-03-06/goldman-secret-greece-loan-shows-two-sinners-as-client-unravels.html |url-status=live }}</ref><ref name="The Guardian">{{cite news |author=Elena Moya |date=16 February 2010 |title=Banks that inflated Greek debt should be investigated, EU urges |newspaper=[[The Guardian]] |url=https://www.theguardian.com/business/2010/feb/16/greek-debt-goldman-sachs |quote="These instruments were not invented by Greece, nor did investment banks discover them just for Greece," said Christophoros Sardelis, who was chief of Greece's debt management agency when the contracts were conducted with Goldman Sachs.Such contracts were also used by other European countries until Eurostat, the EU's statistic agency, stopped accepting them later in the decade. Eurostat has also asked Athens to clarify the contracts. |access-date=11 December 2016 |archive-date=10 June 2024 |archive-url=https://web.archive.org/web/20240610022249/https://www.theguardian.com/business/2010/feb/16/greek-debt-goldman-sachs |url-status=live }}</ref> This was one of the techniques that enabled Greece to reduce its recorded budget deficit.<ref name="Der Spiegel">{{cite news |author=Beat Balzli |date=8 February 2010 |title=Greek Debt Crisis: How Goldman Sachs Helped Greece to Mask its True Debt |newspaper=[[Der Spiegel]] |url=http://www.spiegel.de/international/europe/greek-debt-crisis-how-goldman-sachs-helped-greece-to-mask-its-true-debt-a-676634.html |access-date=29 October 2013 |quote=This credit disguised as a swap didn't show up in the Greek debt statistics. Eurostat's reporting rules don't comprehensively record transactions involving financial derivatives. "The Maastricht rules can be circumvented quite legally through swaps," says a German derivatives dealer. In previous years, Italy used a similar trick to mask its true debt with the help of a different US bank. |archive-date=26 October 2013 |archive-url=https://web.archive.org/web/20131026152948/http://www.spiegel.de/international/europe/greek-debt-crisis-how-goldman-sachs-helped-greece-to-mask-its-true-debt-a-676634.html |url-status=live }}</ref>

The crisis was triggered by the [[Great Recession]], which caused Greece's GDP to contract 2.5% in 2009.<ref>{{Cite book |url=https://www.oecd.org/gov/budgeting/47840787.pdf |title=Restoring public finances |publisher=[[OECD]] |year=2011 |pages=119 |language=en |chapter=Country notes: Greece |access-date=26 December 2022 |archive-date=29 January 2023 |archive-url=https://web.archive.org/web/20230129165822/https://www.oecd.org/gov/budgeting/47840787.pdf |url-status=live }}</ref> Simultaneously, deficits were revealed to have been allowed to reach 10% and 15% in 2008 and 2009. This caused Greece's debt-to-GDP ratio to increase to 127%.<ref>{{cite web|title=Eurostat (Government debt data)|work=Eurostat |url=https://ec.europa.eu/eurostat/tgm/refreshTableAction.do?tab=table&plugin=1&pcode=teina225&language=en|access-date=5 September 2018|archive-date=6 September 2018|archive-url=https://web.archive.org/web/20180906195452/https://ec.europa.eu/eurostat/tgm/refreshTableAction.do?tab=table&plugin=1&pcode=teina225&language=en|url-status=live}}</ref> As a [[eurozone]] member, Greece had no autonomous [[Economic and Monetary Union of the European Union#Monetary policy inflexibility|monetary policy flexibility]]. Greece's borrowing rates increased, causing a crisis of confidence in Greece's ability to pay back loans in early 2010.<ref>{{cite news|title=Papandreou Faces Bond Rout as Budget Worsens, Workers Strike |url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aUi3XLUwIIVA |publisher=Bloomberg L.P. |date=22 April 2010 |access-date=2 May 2010 |archive-url=https://web.archive.org/web/20110623231800/http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aUi3XLUwIIVA |archive-date=23 June 2011 }}</ref><ref>{{cite news |author=Staff |title=Britain's Deficit Third Worst in the World, Table |date=19 February 2010 |url=https://www.telegraph.co.uk/finance/financialcrisis/7269629/Britains-deficit-third-worst-in-the-world-table.html |access-date=5 August 2011 |work=The Daily Telegraph |location=London |archive-date=22 February 2010 |archive-url=https://web.archive.org/web/20100222082519/http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7269629/Britains-deficit-third-worst-in-the-world-table.html|url-status=live}}</ref>

To avert a [[sovereign default]], Greece, other eurozone members, and the [[International Monetary Fund]] agreed on a €110&nbsp;billion rescue package in May 2010.<ref>{{cite news |author1=Thesing, Gabi |author2=Krause-Jackson, Flavia |title=Greece Faces 'Unprecedented' Cuts as $159B Rescue Nears |url=https://www.bloomberg.com/news/2010-05-02/greece-faces-unprecedented-cuts-as-159b-rescue-nears.html |publisher=Bloomberg |date=3 May 2010 |access-date=6 May 2010 |archive-date=14 September 2010 |archive-url=https://web.archive.org/web/20100914072159/http://www.bloomberg.com/news/2010-05-02/greece-faces-unprecedented-cuts-as-159b-rescue-nears.html |url-status=live }}</ref><ref>{{cite news |author=Kerin Hope |title=EU Puts Positive Spin on Greek Rescue |url=http://www.ft.com/cms/s/0/08a87e4e-55c4-11df-b835-00144feab49a.html |archive-url=https://ghostarchive.org/archive/20221210201220/https://www.ft.com/content/08a87e4e-55c4-11df-b835-00144feab49a |archive-date=10 December 2022 |url-access=subscription |work=Financial Times |date=2 May 2010 |access-date=6 May 2010 |url-status=live }}</ref> Greece was required to adopt harsh [[austerity]] measures to bring its deficit down.<ref>{{cite news|last=Newman |first=Rick |date=3 November 2011 |title=Lessons for Congress From the Chaos in Greece |newspaper=US News |url=https://www.usnews.com/news/blogs/rick-newman/2011/11/03/lessons-for-congress-from-the-chaos-in-greece |access-date=3 November 2011 |archive-url=https://web.archive.org/web/20111104005053/http://www.usnews.com/news/blogs/rick-newman/2011/11/03/lessons-for-congress-from-the-chaos-in-greece |archive-date=4 November 2011}}</ref> A second bail-out of €130&nbsp;billion was agreed in 2012, subject to financial reforms and further austerity.<ref name= BBCQ&A>{{cite news |url=https://www.bbc.co.uk/news/business-13798000 |title=Q&A: Greek debt |work=BBC News Online |access-date=14 May 2012 |url-status=live |archive-date=10 May 2019 |archive-url=https://web.archive.org/web/20190510095859/https://www.bbc.co.uk/news/business-13798000}}</ref> A [[Debt relief|debt haircut]] was agreed.<ref name= BBCQ&A /> Greece achieved a [[balanced budget|budget surplus]] in 2013 and returned to growth in 2014.<ref name="Kathimerini growth">{{cite news|last1=Bensasson |first1=Marcus|date=4 November 2014|title=Greece exited recession in second quarter, says EU Commission |work=[[Kathimerini]] |url=http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_04/11/2014_544283|access-date=4 November 2014|url-status=live |archive-url=https://web.archive.org/web/20150107102634/http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_04/11/2014_544283|archive-date=7 January 2015 }}</ref><ref>{{cite news |title=Greek growth rates put Germany, eurozone to shame |url=http://www.marketwatch.com/story/greek-growth-rates-put-germany-eurozone-to-shame-2014-11-14|access-date=16 November 2014 |work=[[MarketWatch]]|date=14 November 2014|archive-url=https://web.archive.org/web/20141116115422/http://www.marketwatch.com/story/greek-growth-rates-put-germany-eurozone-to-shame-2014-11-14 |archive-date=16 November 2014|url-status=live}}</ref>

Partly due to the imposed austerity,<ref name=":3">{{Cite news |title=Is the Greek financial crisis over at last? |language=en |newspaper=The Economist |url=https://www.economist.com/the-economist-explains/2018/08/21/is-the-greek-financial-crisis-over-at-last |access-date=26 December 2022 |archive-date=26 December 2022 |archive-url=https://web.archive.org/web/20221226194006/https://www.economist.com/the-economist-explains/2018/08/21/is-the-greek-financial-crisis-over-at-last |url-status=live }}</ref> Greece experienced a 25% drop in GDP between 2009 and 2015.<ref>{{Cite news |date=10 July 2015 |title=The Greek debt crisis story in numbers |language=en-GB |work=BBC News |url=https://www.bbc.com/news/world-europe-33407742 |access-date=26 December 2022 |archive-date=26 December 2022 |archive-url=https://web.archive.org/web/20221226195105/https://www.bbc.com/news/world-europe-33407742 |url-status=live }}</ref> The debt ratio, jumped from 127% to about 170%, due to the shrinking economy.<ref name="Debt 2017 Eurostat">{{cite news |url=https://ec.europa.eu/eurostat/documents/2995521/8824854/2-24042018-AP-EN.pdf/2e4cce59-7d36-4894-b21e-9f2c14b81630 |archive-url=https://web.archive.org/web/20180428162026/http://ec.europa.eu/eurostat/documents/2995521/8824854/2-24042018-AP-EN.pdf/2e4cce59-7d36-4894-b21e-9f2c14b81630 |archive-date=28 April 2018 |url-status=live|title= Eurostat (2017 Government debt data)|work= Eurostat |date=24 April 2018 |access-date=5 September 2018}}</ref> In 2013, the IMF admitted it had underestimated the effects of tax hikes and budget cuts and issued an informal apology.<ref name="IMF Guardian">{{cite news |url=https://www.theguardian.com/business/2013/jun/05/imf-admit-mistakes-greek-crisis-austerity |title=IMF 'to admit mistakes' in handling Greek debt crisis and bailout (The Guardian) |date=5 June 2013 |access-date=22 June 2018 |archive-date=10 June 2024 |archive-url=https://web.archive.org/web/20240610022237/https://www.theguardian.com/business/2013/jun/05/imf-admit-mistakes-greek-crisis-austerity |url-status=live }}</ref><ref name="IMF Reuters">{{cite news | url=https://www.reuters.com/article/us-imf-greece/for-hard-hit-greeks-imf-mea-culpa-comes-too-late-idUSBRE9550M320130606 |title= For hard-hit Greeks, IMF mea culpa comes too late (Reuters) |date=6 June 2013 |access-date=22 June 2018}}</ref><ref name="Fiscal adjustment">{{cite news |url=http://bruegel.org/2015/02/should-other-eurozone-programme-countries-worry-about-a-reduced-greek-primary-surplus-target/ |title=Should other Eurozone programme countries worry about a reduced Greek primary surplus target? |date=25 February 2015 |access-date=28 May 2017 |archive-date=12 September 2018 |archive-url=https://web.archive.org/web/20180912204358/http://bruegel.org/2015/02/should-other-eurozone-programme-countries-worry-about-a-reduced-greek-primary-surplus-target/ |url-status=live }}</ref> The policies have been blamed for worsening the crisis,<ref name="IMF Bloomberg">{{cite news |url=https://www.bloomberg.com/news/articles/2018-06-18/why-three-rescues-didn-t-solve-greece-s-debt-problem-quicktake |title=Why Three Rescues Didn't Solve Greece's Debt Problem (Bloomberg) |date=18 June 2018 |access-date=22 June 2018 |archive-date=23 June 2018 |archive-url=https://web.archive.org/web/20180623141119/https://www.bloomberg.com/news/articles/2018-06-18/why-three-rescues-didn-t-solve-greece-s-debt-problem-quicktake |url-status=live }}</ref><ref name="IMF WSJ">{{cite news |url=https://www.wsj.com/articles/will-the-imf-apologize-to-greece-1402863715 |title=Will the IMF Apologize to Greece ? (WSJ) |date=15 June 2014 |access-date=22 June 2018 |archive-date=23 June 2018 |archive-url=https://web.archive.org/web/20180623113418/https://www.wsj.com/articles/will-the-imf-apologize-to-greece-1402863715 |url-status=live }}</ref> while others stressed the creditors' share in responsibility.<ref name="Pavlopoulos Moscovici">{{cite news
|url= http://www.kathimerini.gr/972843/gallery/epikairothta/politikh/paylopoylos-se-moskovisi-na-mhn-epanalhf8oyn-la8h-poy-odhghsan-se-odynhres-8ysies-ton-lao
|title= Pavlopoulos to Moscovici: the mistakes that led to painful sacrifices for the Greek people should not be repeated (Kathimerini, in Greek))
|date= 3 July 2018
|access-date= 30 July 2018
|archive-date= 1 August 2018
|archive-url= https://web.archive.org/web/20180801004156/http://www.kathimerini.gr/972843/gallery/epikairothta/politikh/paylopoylos-se-moskovisi-na-mhn-epanalhf8oyn-la8h-poy-odhghsan-se-odynhres-8ysies-ton-lao
|url-status= live
}}</ref><ref name="Tsipras Bloomberg">{{cite news |date=27 June 2018 |title=Tsipras says Greece won't go back to old spending ways |url=https://www.bloomberg.com/news/videos/2018-06-27/tsipras-says-greece-won-t-go-back-to-old-spending-ways-video |access-date=30 July 2018 |archive-date=1 August 2018 |archive-url=https://web.archive.org/web/20180801034439/https://www.bloomberg.com/news/videos/2018-06-27/tsipras-says-greece-won-t-go-back-to-old-spending-ways-video |url-status=live }}</ref><ref name="Debt 2017 Eurostat"/> The bailouts ended in 2018.<ref name="Bailout exit Reuters">{{cite news |url= https://www.reuters.com/article/us-eurozone-greece-bailout/greece-exits-final-bailout-successfully-esm-idUSKCN1L40OG |title= Greece exits final bailout successfully: ESM |work= Reuters |date= 20 August 2018 |access-date= 31 August 2018 |archive-date= 31 August 2018 |archive-url= https://web.archive.org/web/20180831081000/https://www.reuters.com/article/us-eurozone-greece-bailout/greece-exits-final-bailout-successfully-esm-idUSKCN1L40OG |url-status= live }}</ref>

In 2024, the Greek economy is forecast to grow nearly 3%, meaning it approaches its pre-crisis size of 2009 and far outpacing the eurozone average economic growth of 0.8%.<ref>{{cite web |title=Greek economy surges after decade of pain |url=https://www.reuters.com/markets/europe/greek-economy-surges-after-decade-pain-2024-04-18/ |website=reuters.com |access-date=23 April 2024}}</ref>

=== Agriculture ===
{{Main|Agriculture in Greece}}
[[File:Zante currant drying in Tsilivi.jpg|thumb|Sun-drying of [[Zante currant]] on [[Zakynthos]]]]
Greece is the European Union's largest producer of [[cotton]]<ref>{{cite web | url=https://agriculture.ec.europa.eu/farming/crop-productions-and-plant-based-products/cotton_en#:~:text=Although%20cotton%20represents%20less%20than,1%25%20of%20world%20cotton%20production | title=Cotton - European Commission | access-date=18 April 2024 | archive-date=2 April 2024 | archive-url=https://web.archive.org/web/20240402085211/https://agriculture.ec.europa.eu/farming/crop-productions-and-plant-based-products/cotton_en#:~:text=Although%20cotton%20represents%20less%20than,1%25%20of%20world%20cotton%20production | url-status=live }}</ref> and [[pistachios]] (7,200 tons in 2021),<ref>{{cite web | url=https://nazari-pistachio.com/articles/top-pistachio-producers/#:~:text=Pistachio%20Production%20Worldwide%20Market%20Share&text=The%20remaining%205%25%20belongs%20to,of%20the%20global%20market%20share | title=3 Top pistachio producing countries | date=13 July 2022 | access-date=18 April 2024 | archive-date=18 April 2024 | archive-url=https://web.archive.org/web/20240418121855/https://nazari-pistachio.com/articles/top-pistachio-producers/#:~:text=Pistachio%20Production%20Worldwide%20Market%20Share&text=The%20remaining%205%25%20belongs%20to,of%20the%20global%20market%20share | url-status=live }}</ref><ref name=faocrops/> second in [[olive]]s (3m tons in 2021), third in [[fig]]s (8,400 tons in 2022) and [[watermelon]]s (440,000 tons in 2022) and fourth in [[almond]]s (40,000 tons in 2022).<ref name=faocrops>{{Cite web|url=https://www.fao.org/faostat/en/#data/QCL|title=FAOSTAT|website=www.fao.org|access-date=18 April 2024|archive-date=12 November 2016|archive-url=https://web.archive.org/web/20161112130804/https://www.fao.org/faostat/en/#data/QCL|url-status=live}}</ref> Agriculture contributes 3.8% of GDP and employs 12% of the labour force.

Greece is a major beneficiary of the EU's [[Common Agricultural Policy]]. As a result of entry to the European Community, much of its agricultural infrastructure has been upgraded and output increased.

=== Energy ===
{{Main|Energy in Greece}}
[[File:SolarGIS-Solar-map-Greece-en.png|thumb|Solar-power generation potential in Greece]]

Electricity production is dominated by the state-owned [[Public Power Corporation]] (known by its acronym ΔΕΗ, transliterated as DEI), which supplied 75% of electricity in 2021.<ref>{{Cite web|url=http://energypress.gr/news/eftasan-15-ekat-oi-pelates-ton-enallaktikon-promitheyton-reymatos-ti-deihnoyn-ta-stoiheia-toy|title=Έφτασαν το 1,5 εκατ. οι πελάτες των εναλλακτικών προμηθευτών ρεύματος - Τι δείχνουν τα στοιχεία του ΔΕΔΔΗΕ για την μετακίνηση πελατών|date=18 August 2021|website=energypress.gr}}</ref> Some of DEI's output is generated using [[lignite]].<ref name="DEI 2010">{{cite web |url=http://www.dei.gr/Images/ENG%20REPORT%202010%20FINAL.pdf |title=Public Power Corporation S.A. Financial Report (January 1, 2010 – December 31, 2010) |year=2010 |publisher=[[Public Power Corporation of Greece]] |access-date=24 October 2011 |archive-date=27 September 2011 |archive-url=https://web.archive.org/web/20110927180029/http://www.dei.gr/Images/ENG%20REPORT%202010%20FINAL.pdf |url-status=dead }}</ref> [[Renewable energy in Greece]] accounted for 46% of Greece's electricity in 2022,<ref>{{Cite web|url=https://www.iea.org/countries/greece/renewables|title=Greece - Countries & Regions|website=IEA|access-date=18 April 2024|archive-date=18 April 2024|archive-url=https://web.archive.org/web/20240418141550/https://www.iea.org/countries/greece/renewables|url-status=live}}</ref> a rise from the 11% in 2011.<ref name="Eurostat renewable energy">{{cite web |url=http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&language=en&pcode=tsdcc110&plugin=0 |title=Share of renewable energy in gross final energy consumption % |year=2008 |publisher=[[Eurostat]] |access-date=24 October 2011 |archive-date=22 April 2012 |archive-url=https://web.archive.org/web/20120422003015/http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&language=en&pcode=tsdcc110&plugin=0 |url-status=live }}</ref> [[Wind power]] accounts for 22%, [[solar power]] 14%, [[hydropower]] 9%, and natural gas 38%.<ref>{{Cite web|url=https://www.iea.org/countries/greece/electricity|title=Greece - Countries & Regions|website=IEA|access-date=18 April 2024|archive-date=18 April 2024|archive-url=https://web.archive.org/web/20240418141550/https://www.iea.org/countries/greece/electricity|url-status=live}}</ref> Independent companies' energy production has increased. Greece does not have any [[nuclear power plant]]s.

=== Maritime ===
{{Main|Greek shipping|List of ports in Greece}}
{{See also|Economy of Greece#Maritime industry|label 1=Economy of Greece » Maritime industry}}

The shipping industry has been a key element of economic activity since ancient times.<ref name="shipping">{{cite web |url=http://www.greece.org/poseidon/work/articles/polemis_one.html |title=The History of Greek Shipping |author=Polemis, Spyros M. |publisher=greece.org |access-date=9 April 2007 |archive-date=11 October 1997 |archive-url=https://web.archive.org/web/19971011122557/http://www.greece.org/poseidon/work/articles/polemis_one.html |url-status=live }}</ref> Shipping remains one of the country's most important industries, accounting for 5% of GDP and employing about 160,000 people (4% of the workforce).<ref name=nbg>{{cite press release |url=http://www.nbg.gr/en/pr_release_resb.asp?P_ID=463 |publisher=[[National Bank of Greece]] |title=Greek Shipping Is Modernized To Remain a Global Leader and Expand Its Contribution to the Greek Economy |date=11 May 2006 |access-date=8 April 2007 |archive-url=https://web.archive.org/web/20070831114031/http://www.nbg.gr/en/pr_release_resb.asp?P_ID=463 |archive-date=31 August 2007}}</ref>

The [[Greek Merchant Navy]] is the largest in the world at 18% of global capacity.<ref name="auto"/> The merchant fleet ranks first in tonnage (384&nbsp;million [[Deadweight tonnage|dwt]]), 2nd in number of ships (at 4,870),<ref name="auto"/> first in [[tanker (ship)|tankers]] and dry bulk carriers, fourth in the number of containers, and fifth in other ships.<ref name="BTS">{{cite web |url=http://www.rita.dot.gov/bts/sites/rita.dot.gov.bts/files/publications/maritime_trade_and_transportation/2007/html/table_02_01.html|title=Top 15 Ranking of World Merchant Fleet by Country of Owner, Year-End 2006|publisher=U.S. [[Bureau of Transportation Statistics]]|year=2001|access-date=11 June 2013|archive-url=https://web.archive.org/web/20131029205740/http://www.rita.dot.gov/bts/sites/rita.dot.gov.bts/files/publications/maritime_trade_and_transportation/2007/html/table_02_01.html|archive-date=29 October 2013}}</ref> The number of ships flying a Greek flag (includes non-Greek fleets) is 1,517, or 5% of the world's tonnage (ranked fifth globally). Today's fleet is smaller than an all-time high of 5,000 ships in the late 1970s.<ref name=shipping /> During the 1960s, the Greek fleet nearly doubled, through the investment undertaken by the shipping magnates, [[Aristotle Onassis]] and [[Stavros Niarchos]].<ref name="slate">{{cite magazine |url= http://www.slate.com/?id=2124542& |title= So Many Greek Shipping Magnates... |author= Engber, Daniel |magazine= [[Slate (magazine)|Slate]] |date= 17 August 2005 |access-date= 5 August 2011 |url-status= live |archive-date= 5 August 2011 |archive-url= https://web.archive.org/web/20110805080110/http://www.slate.com/?id=2124542& }}</ref> The modern Greek maritime industry was formed after World War II when Greek shipping businessmen were able to amass surplus ships sold by the U.S. government through the Ship Sales Act of the 1940s.<ref name=slate />

Greece has a significant shipbuilding and ship maintenance industry. The six shipyards around the port of [[Piraeus]] are among the largest in Europe.<ref>{{cite book|author1=Jill Dubois |author2=Xenia Skoura|author3=Olga Gratsaniti|title=Greece |url=https://books.google.com/books?id=DVzthRVC_SMC&pg=PA42 |access-date=14 April 2013|year=2003|publisher=Marshall Cavendish |isbn=978-0-7614-1499-5|page=42|quote=Greek ships make up 70 percent of the European Union's total merchant fleet. Greece has a large shipbuilding and ship refitting industry. Its six shipyards near Piraeus are among the biggest in Europe. As Greek ships primarily transport ...|archive-date=10 June 2024|archive-url=https://web.archive.org/web/20240610022758/https://books.google.com/books?id=DVzthRVC_SMC&pg=PA42#v=onepage&q&f=false|url-status=live}}</ref> Greece has become a leader in the construction and maintenance of luxury yachts.<ref>{{cite web |date=2017-02-17 |url=http://www.ekathimerini.com/216308/article/ekathimerini/business/mega-yacht-owners-choose-greece-for-construction-and-maintenance|title=Mega yacht owners choose Greece for construction and maintenance|first=Ilias|last=Bellos|website=ekathimerini.com |access-date=13 February 2018 |url-status=live|archive-date=22 February 2017|archive-url=https://web.archive.org/web/20170222031815/http://www.ekathimerini.com/216308/article/ekathimerini/business/mega-yacht-owners-choose-greece-for-construction-and-maintenance}}</ref>

=== Tourism ===
{{Main|Tourism in Greece}}
[[File:Blue-dome-Santorini.JPG|alt=|thumb|[[Santorini]], a popular tourist destination, is ranked as the world's top island in many travel magazines and sites.<ref>{{cite web
 | url = http://www.travelandleisure.com/worldsbest/2011/islands/top-10-islands/237
 | work = Travel+Leisure
 | title = 2011 World's Best Awards
 | access-date = 16 July 2011
| url-status=dead
 | archive-url = https://web.archive.org/web/20110712204603/http://www.travelandleisure.com/worldsbest/2011/islands/top-10-islands/237
 | archive-date = 12 July 2011
}}</ref><ref>{{cite web
| url = http://www.bbc.com/travel/slideshow/20111123-worlds-best-islands
| publisher = BBC
| access-date = 1 December 2011
| title = World's Best Islands
| archive-date = 1 December 2011
| archive-url = https://web.archive.org/web/20111201185032/http://www.bbc.com/travel/slideshow/20111123-worlds-best-islands
| url-status = dead
}}</ref>]]
Tourism has been a key element of the economy and one of the most important sectors, contributing 21% of gross domestic product in 2018.<ref>{{cite web |author1=Chloe Wynne |title=Greek tourism sector growing over three times faster than wider economy says new WTTC research |url=https://www.wttc.org/about/media-centre/press-releases/press-releases/2019/greek-tourism-sector-growing-over-three-times-faster-than-wider-economy-says-new-wttc-research/ |website=WTTC |access-date=21 April 2019 |archive-date=21 April 2019 |archive-url=https://web.archive.org/web/20190421071148/https://www.wttc.org/about/media-centre/press-releases/press-releases/2019/greek-tourism-sector-growing-over-three-times-faster-than-wider-economy-says-new-wttc-research/ |url-status=live }}</ref> Greece was the 9th most visited country in the world in 2022, hosting 28 million visitors,<ref name="May2023">{{Cite web |title=International Tourism – 2023 starts on a strong note with the Middle East recovering 2019 levels in the first quarter |url=https://webunwto.s3.eu-west-1.amazonaws.com/s3fs-public/2023-05/UNWTO_Barom23_02_May_EXCERPT_final.pdf?VersionId=gGmuSXlwfM1yoemsRrBI9ZJf.Vmc9gYD |url-status=dead |archive-url=https://web.archive.org/web/20230802171252/https://webunwto.s3.eu-west-1.amazonaws.com/s3fs-public/2023-05/UNWTO_Barom23_02_May_EXCERPT_final.pdf?VersionId=gGmuSXlwfM1yoemsRrBI9ZJf.Vmc9gYD |archive-date=2 August 2023 |website=webunwto.s3.eu-west-1.amazonaws.com}}</ref> an increase from 18&nbsp;million tourists in 2007.<ref name="Eurostat Tourism">{{cite web|url=http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-HA-10-001-11/EN/KS-HA-10-001-11-EN.PDF|archive-url=https://web.archive.org/web/20110516161713/http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-HA-10-001-11/EN/KS-HA-10-001-11-EN.PDF|archive-date=16 May 2011|title=Tourism |year=2010 |publisher=[[Eurostat]] |access-date=10 August 2011}}</ref>

Most visitors come from the European continent,<ref name="A2001">{{cite web|url=http://www.statistics.gr/portal/page/portal/ESYE/BUCKET/A2001/Other/A2001_STO03_TB_MM_12_2007_02_F_GR.pdf|archive-url=https://web.archive.org/web/20101114095907/http://www.statistics.gr/portal/page/portal/ESYE/BUCKET/A2001/Other/A2001_STO03_TB_MM_12_2007_02_F_GR.pdf|archive-date=14 November 2010 |script-title=el:02. Αφίξεις αλλοδαπών από το εξωτερικό κατά υπηκοότητα και μέσο ταξιδίου ( Δεκέμβριος 2007 ) |trans-title=02. Arrivals of foreigners from abroad by nationality and means of travel (December 2007) |date=December 2007 |publisher=Hellenic National Statistics Agency|language=el |access-date=10 August 2011}}</ref> while the most from a single nationality are from the United Kingdom, followed by Germany. The most visited [[modern regions of Greece|region]] of Greece is [[Central Macedonia]].<ref name="Eurostat Tourism table">{{cite web |url=http://appsso.eurostat.ec.europa.eu/nui/setupModifyTableLayout.do |title=Nights spent in tourist accommodation establishments&nbsp;– regional&nbsp;– annual data |year=2010 |publisher=[[Eurostat]] |access-date=10 August 2011 |archive-date=22 August 2019 |archive-url=https://web.archive.org/web/20190822022800/http://appsso.eurostat.ec.europa.eu/nui/setupModifyTableLayout.do |url-status=live }}</ref>

In 2011, [[Santorini]] was voted as "The World's Best Island" in ''[[Travel + Leisure]]''.<ref name="Best Islands">{{cite magazine|url=http://www.travelandleisure.com/worldsbest/2011/islands/europe-islands/242|archive-url=https://web.archive.org/web/20110712230838/http://www.travelandleisure.com/worldsbest/2011/islands/europe-islands/242|archive-date=12 July 2011|title=World's Best Awards&nbsp;– Islands |magazine=[[Travel + Leisure]] |access-date=10 August 2011}}</ref> Its neighboring island [[Mykonos]], came in fifth in the European category.<ref name="Best Islands" /> There are [[List of World Heritage sites in Greece|19 UNESCO World Heritage Sites]] in Greece,<ref name="Unesco">{{cite web|title=Greece Properties inscribed on the World Heritage List (17)|url=https://whc.unesco.org/en/statesparties/gr|publisher=Unesco|access-date=26 December 2019|archive-date=18 September 2018|archive-url=https://web.archive.org/web/20180918171639/http://whc.unesco.org/en/statesparties/gr/|url-status=live}}</ref> and Greece is ranked 17th in the world in total sites. Thirteen further sites are on the tentative list, awaiting nomination.<ref name="Unesco" />

{{wide image|Corfu Town R02.jpg |900px| Panoramic view of the old [[Corfu City]], a [[UNESCO World Heritage Site]], as seen from the [[Old Fortress, Corfu|Old Fortress]]. The Bay of Garitsa is to the left and the port of [[Corfu]] is just visible on the top right. [[Spianada Square]] is in the foreground.}}

=== Transport ===
{{Main|Transport in Greece|Highways in Greece}}
[[File:Rio-Antirio bridge.jpg|thumb|The [[Rio–Antirrio bridge]] connects mainland Greece to the [[Peloponnese]]]]
[[File:Greekmotorways2017 2.jpg|thumb|Map of Greece's motorway network as of 2022. '''Black'''=Completed routes, '''Blue'''=Under Construction, '''Grey'''=Planned routes]]
Since the 1980s, the road and rail network has been modernised. With a total length of about {{Convert|2320|km|abbr=on}} as of 2020, Greece's motorway network is the most extensive in [[Southeastern Europe]] and one of the most advanced in Europe,<ref>{{cite web|url=http://www.ypodomes.com/index.php/alles-ypodomes/endiaferouses-eidiseis/item/35705-aftokinitodromoi-diktyo-2500-xiliometra-mexri-to-2017|title=Αυτοκινητόδρομοι: Δίκτυο 2.500 χιλιόμετρα μέχρι το 2017 - ypodomes.com|access-date=28 July 2017|archive-url=https://web.archive.org/web/20180625185609/https://www.ypodomes.com/index.php/alles-ypodomes/endiaferouses-eidiseis/item/35705-aftokinitodromoi-diktyo-2500-xiliometra-mexri-to-2017|archive-date=25 June 2018|url-status=dead}}</ref> including the east–west [[A2 motorway (Greece)|A2]] (Egnatia Odos) in northern Greece, the north–south [[A1 motorway (Greece)|A1]] (Athens–Thessaloniki–Evzonoi, AThE) along the mainland's eastern coastline and the [[A5 motorway (Greece)|A5]] (Ionia Odos) along the western coastline, leading to the [[Rio–Antirrio bridge]], the longest suspension cable bridge in Europe ({{convert|2250|m|0|abbr=on}} long), connecting [[Rio, Greece|Rio]] in the [[Peloponnese]] with [[Antirrio]] in western Greece. The Athens Metropolitan Area is served by the privately run [[Attiki Odos]] ([[A6 motorway (Greece)|A6]]/[[A62 motorway (Greece)|A62]]/[[A621 motorway (Greece)|A621]]/[[A64 motorway (Greece)|A64]]/[[A65 motorway (Greece)|A65]]) motorway network and the expanded [[Athens Metro]] system, while the [[Thessaloniki Metro]] was launched in 2024. 

Railway connections play a lesser role than in many other European countries, but have been expanded, with new suburban/[[commuter rail]] connections, serviced by [[Proastiakos]] around Athens, Thessaloniki, and Patras. A modern intercity rail connection between Athens and Thessaloniki has been established, while an upgrade to double lines in many parts of the {{convert|2500|km|mi|abbr=on}} network is underway; along with a [[P.A.Th.E./P.|new double track, standard gauge]] railway between [[Athens]] and [[Patras]] (replacing the old [[metre-gauge railway|metre-gauge]] [[Piraeus–Patras railway]]) which is under construction and opening in stages.<ref>{{Cite web|url=https://www.ergose.gr/|title=Αρχική|date=5 February 2024|website=ΕΡΓΟΣΕ|access-date=19 April 2024|archive-date=19 April 2024|archive-url=https://web.archive.org/web/20240419105359/https://www.ergose.gr/|url-status=live}}</ref> International railway lines connect Greek cities with the rest of Europe, the Balkans and Turkey.

All major islands are served by ferries to the mainland. [[Piraeus]], the port of Athens, was the third busiest passenger port in Europe as of 2021. 37 million passengers travelled by boat in Greece in 2019, the second-highest in Europe.<ref>{{cite web | title=Maritime passenger statistics | website=European Commission | url=https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Maritime_passenger_statistics#Messina_remained_the_largest_EU_passenger_port_in_2021 | ref={{sfnref | European Commission}} | access-date=6 October 2023 | archive-date=27 February 2021 | archive-url=https://web.archive.org/web/20210227000908/https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Maritime_passenger_statistics#Messina_remained_the_largest_EU_passenger_port_in_2021 | url-status=live }}</ref> Greece has 39 active airports, 15 of which serve international destinations.<ref>{{cite web | title=Hellenic Civil Aviation Authority - Our Airports | website=Υπηρεσία Πολιτικής Αεροπορίας - Αρχική | url=http://www.ypa.gr/en/our-airports | ref={{sfnref | Υπηρεσία Πολιτικής Αεροπορίας - Αρχική}} | access-date=6 October 2023 | archive-date=13 April 2016 | archive-url=https://web.archive.org/web/20160413044943/http://www.ypa.gr/en/our-airports/ | url-status=live }}</ref> [[Athens International Airport]] served over 28 million passengers in 2023.<ref name=AIA>{{cite web|title=Athens International Airport "El.Venizelos" Facts & Figures|url=https://www.aia.gr/company-and-business/the-company/facts-and-figures/|website=aia.gr|access-date=12 January 2021|archive-date=7 March 2023|archive-url=https://web.archive.org/web/20230307044003/https://www.aia.gr/company-and-business/the-company/facts-and-figures|url-status=live}}</ref> Most Greek islands and main cities are connected by air, by the three major airlines, [[Olympic Air]], [[Aegean Airlines]] and [[Sky Express (Greece)|Sky Express]].

=== Telecommunications ===
{{Main|Telecommunications in Greece}}

Modern digital information and communication networks reach all areas. There are over {{convert|35000|km|0|abbr=on}} of fiber optics and an extensive open-wire network. Broadband internet availability is widespread in Greece: there were a total of 2,252,653 broadband connections {{as of|2011|alt=as of early 2011}}, translating to 20% broadband penetration.<ref name="cnbc">{{cite news |date=2 May 2011 |url=http://news.in.gr/science-technology/article/?aid=1231106170 |script-title=el:''Το 20% του πληθυσμού πλησιάζει η διείσδυση της ευρυζωνικότητας στην Ελλάδα'' |trans-title=20% of the population approaching broadband penetration in Greece |language=el |publisher=in.gr |access-date=18 April 2014 |archive-date=10 June 2024 |archive-url=https://web.archive.org/web/20240610022756/https://www.in.gr/2011/05/02/in-science/to-20-toy-plithysmoy-plisiazei-i-dieisdysi-tis-eyryzwnikotitas-stin-ellada/ |url-status=live }}</ref> In 2017 around 82% of the population used the internet regularly.<ref name="Kathimerini article">{{cite web|url=http://www.kathimerini.gr/922914/article/texnologia/diadiktyo/to--818-twn-ellhnwn-serfarei-sto-diadiktyo|title=Το 81,8 των Ελληνων σερφαρει στο ιντερνετ|trans-title=81.8% of Greeks surf the Internet|publisher=Kathimerini.gr|access-date=28 October 2016|archive-date=17 August 2017|archive-url=https://web.archive.org/web/20170817154815/http://www.kathimerini.gr/922914/article/texnologia/diadiktyo/to--818-twn-ellhnwn-serfarei-sto-diadiktyo|url-status=live}}</ref>

[[Internet café]]s that provide net access, office applications and multiplayer gaming are a common sight, while mobile internet on [[3G]] and [[4G]]- [[LTE (telecommunication)|LTE]] cellphone networks and [[Wi-Fi]] connections can be found almost everywhere.<ref>{{cite web|title=Finding Free WiFi Internet in the Greek Islands|url=http://www.openjourney.com/blogs/josh/free-wifi-internet-greek-islands-47.html|publisher=Open Journey|access-date=20 August 2011|date=29 June 2011|archive-date=22 December 2011|archive-url=https://web.archive.org/web/20111222043509/http://www.openjourney.com/blogs/josh/free-wifi-internet-greek-islands-47.html|url-status=live}}</ref> As of July 2022, 5G service is accessible in most of major cities. The UN ranks Greece among the top 30 countries with a highly developed information and communications infrastructure.<ref>{{cite web|url=http://www.itu.int/net/pressoffice/backgrounders/general/pdf/5.pdf |archive-url=https://web.archive.org/web/20100216184100/http://www.itu.int/net/pressoffice/backgrounders/general/pdf/5.pdf |archive-date=16 February 2010 |url-status=live |title= ICT Development Index (IDI), 2010 and 2008 |access-date=22 July 2012|publisher=The United Nations Telecommunication Union{{!}}International Telecommunication Union}} p. 15.</ref>

=== Science and technology ===
{{Main|List of Greek inventions and discoveries}}
[[File:Gnpapanikolaou.jpg|thumb|170px|[[Georgios Papanikolaou]], a pioneer in [[cytopathology]] and early cancer detection]]
The General Secretariat for Research and Technology of the Ministry of Development and Competitiveness is responsible for designing, implementing and supervising national research and technological policy. In 2017, spending on research and development (R&D) reached an all-time high of €2&nbsp;billion, equal to 1.1% of GDP.<ref>{{cite web|url=http://www.greeknewsagenda.gr/index.php/topics/business-r-d/6889-r-d-spending-2017|title=R&D spending in Greece reached a record high in 2017|website=www.greeknewsagenda.gr|date=26 November 2018|access-date=3 August 2019|archive-date=4 April 2023|archive-url=https://web.archive.org/web/20230404065318/http://www.greeknewsagenda.gr/index.php/topics/business-r-d/6889-r-d-spending-2017|url-status=live}}</ref>

Greece was ranked 45th in the [[Global Innovation Index]] in 2024.<ref>{{Cite book |author=[[World Intellectual Property Organization]] |year=2024 |title=Global Innovation Index 2024: Unlocking the Promise of Social Entrepreneurship |url=https://www.wipo.int/web-publications/global-innovation-index-2024/en/ |access-date=2024-10-06 |website=www.wipo.int |page=18 |publisher=World Intellectual Property Organization |language=en |doi=10.34667/tind.50062 |isbn=978-92-805-3681-2}}</ref>

Greece has major technology parks with incubator facilities. The [[Hellenic National Space Committee]] began cooperating with the [[European Space Agency]] (ESA) in 1994 and has been its member since 2005.<ref name=":2">{{cite web |url=http://www.esa.int/About_Us/Business_with_ESA/Greece_becomes_16th_ESA_Member_State |title=Greece becomes 16th ESA Member State |date=22 March 2005 |publisher=ESA |access-date=15 May 2012 |archive-date=18 January 2024 |archive-url=https://web.archive.org/web/20240118222458/https://www.esa.int/About_Us/Business_with_ESA/Greece_becomes_16th_ESA_Member_State |url-status=live }}</ref> The country participates in the ESA's telecommunication and technology activities and the [[Global Monitoring for Environment and Security]] Initiative.<ref name=":2" /> The [[National Centre of Scientific Research "Demokritos"]] was founded in 1959 and is the largest multidisciplinary research centre in Greece. Its activities cover several fields of science and engineering.<ref>{{Cite web |title=National Center for Scientific Research Demokritos (NCSR Demokritos) |url=https://eurocc-greece.gr/demokritos/ |access-date=10 April 2023 |website=EuroCC@Greece |language=en-US |archive-date=1 December 2023 |archive-url=https://web.archive.org/web/20231201201646/https://eurocc-greece.gr/demokritos/ |url-status=live }}</ref>

Greece has one of the highest rates of tertiary enrollment in the world,<ref>{{cite web|title=School enrollment, tertiary (% gross) – Country Ranking|url=https://www.indexmundi.com/facts/indicators/SE.TER.ENRR/rankings|website=indexmundi.com|publisher=Index Mundi|access-date=26 February 2018|archive-date=2 May 2023|archive-url=https://web.archive.org/web/20230502135545/http://www.indexmundi.com/facts/indicators/SE.TER.ENRR/rankings|url-status=live}}</ref> while Greeks are well represented in academia worldwide; leading Western universities employ a disproportionately high number of Greek faculty.<ref>{{cite news |title= University reforms in Greece face student protests |newspaper=The Economist|date=6 July 2006 |access-date=19 December 2008|url= http://www.economist.com/world/europe/displaystory.cfm?story_id=E1_STQTVNJ|archive-url= https://web.archive.org/web/20081207061901/http://www.economist.com/world/europe/displaystory.cfm?story_id=E1_STQTVNJ|archive-date= 7 December 2008 }}</ref> Greek scientific publications have grown significantly in terms of [[research impact]], surpassing both the EU and global average from 2012 to 2016.<ref>{{cite web|title=Greek scientific publications increase their impact|url=https://greeknewsagenda.gr/index.php/topics/business-r-d/6869-scientific-publications-increase-impact|website=greeknewsagenda.gr|date=30 October 2018|access-date=15 May 2020|archive-date=4 April 2023|archive-url=https://web.archive.org/web/20230404065319/https://greeknewsagenda.gr/index.php/topics/business-r-d/6869-scientific-publications-increase-impact|url-status=live}}</ref>

Notable Greek scientists of modern times include [[Georgios Papanikolaou]] (inventor of the [[Pap test]]), mathematician [[Constantin Carathéodory]] (known for the [[Carathéodory theorem (disambiguation)|Carathéodory theorems]] and [[Carathéodory conjecture]]), astronomer [[E. M. Antoniadi]], archaeologists [[Ioannis Svoronos]], [[Valerios Stais]], [[Spyridon Marinatos]], [[Manolis Andronikos]] (discovered the tomb of [[Philip II of Macedon]] in [[Vergina]]), Indologist [[Dimitrios Galanos]], botanist [[Theodoros G. Orphanides]], and scientists such as [[Michael Dertouzos]], [[Nicholas Negroponte]], [[John Argyris]], [[John Iliopoulos]] (2007 [[Dirac Medal (ICTP)|Dirac Prize]] for his contributions on the physics of the [[charm quark]]), [[Joseph Sifakis]] (2007 [[Turing Award]], the "Nobel Prize" of Computer Science), [[Christos Papadimitriou]] (2002 [[Knuth Prize]], 2012 [[Gödel Prize]]), [[Mihalis Yannakakis]] (2005 [[Knuth Prize]]) and physicist [[Dimitri Nanopoulos]].