Greece Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in greece, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Digital Economy
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Overview

Greece is undergoing a profound digital transformation with the challenging goal of fully digitizing the country by 2030. The ICT sector plays a central role in the Greek government’s efforts to reduce bureaucracy, simplify procedures, and significantly boost the nation’s digital economy. This transformation is led by strong government initiatives and substantial financial support from the European Union, particularly through the Recovery and Resilience Facility (RRF), and is a central pillar of the country’s strategy to become a leading digital hub in the region.

The Information and Communication Technology (ICT) market is growing rapidly, with 5G networks being rolled out across the country and the expansion of digital services in the public sector. Greece’s strategic geographic position makes it an attractive location for data center investments, while a vibrant startup ecosystem continues to drive innovation. 

The country has outlined a clear vision for its digital future through strategic plans such as the National Broadband Plan and the Digital Transformation Bible. These initiatives focus on building advanced digital infrastructure, boosting digital skills, and encouraging the widespread adoption of technologies such as artificial intelligence, cloud computing, and cybersecurity across all sectors. Greece’s digital transformation is also a key part of its broader economic recovery strategy. Closely aligned with the European Union’s goals for a Gigabit Society and the Digital Compass 2030, Greece is using EU funds to accelerate its digital agenda and enhance its global competitiveness.

Current State and Market Size

The Greek ICT market exhibits robust growth potential, with a value of approximately $8.76 billion in 2025. Projections indicate a strong growth trajectory, with a Compound Annual Growth Rate (CAGR) of 12.5 percent expected between 2025 and 2033. This growth is indicative of the increasing digitalization across various sectors of the Greek economy.

Participation in the EU Digital Decade and Key Drivers of Digital Growth

Greece is actively participating in the Digital Decade for Europe; the EU’s strategic initiative aimed at advancing digital transformation across member states by 2030. The initiative is structured around four key pillars: digital skills, digital infrastructure, digitalization of businesses, and digitalization of public services. Greece’s alignment and other key drivers include:

  • Government-Led Digital Transformation: The Greek government’s Digital Transformation Program 2021-2027 is a flagship initiative, co-funded by the European Union, aiming to accelerate national digital evolution. Key objectives include:

1. Digital Infrastructure: Significant investments in 5G and Very High-Capacity Networks (VHCN), driven by initiatives like the National Broadband Plan and support from the private sector. The $176 million investment in 5G deployment is a cornerstone of next-generation infrastructure.

2. Digitalization of Businesses: Ongoing modernization through digital tax authority tools, mandatory electronic invoicing, POS systems, and a $467 million investment in SME digitalization under the Greece 2.0 plan.

3. Digitalization of Public Services: A “digital-first” mindset drives the full transformation of public administration. A dedicated $1.43 billion investment supports e-government applications, automation, and improved citizen engagement.

  • Adoption of Advanced Technologies: The growing adoption of cloud computing (with 23.6 percent of Greek enterprises purchasing cloud services in 2023), big data analytics, and Artificial Intelligence (AI) (identified as a top priority for 30 percent of Greek companies) by both large enterprises and SMEs is accelerating market expansion.
     
  • Leveraging Technology for Government Reforms (2023-2027): The government is actively harnessing AI, strengthening cybersecurity, empowering citizens through open data, and promoting digital inclusion. This includes: 

1. AI for Public Good: Establishment of a National AI Council in 2023 to explore AI applications in healthcare, public safety, and economic development, aligning with the EU Artificial Intelligence Act of 2024.

2. Cybersecurity Infrastructure: Creation of a dedicated Cybersecurity Organization in 2024 focusing on prevention, protection, deterrence, and recovery, supported by the EU Cyber Resilience Act (CRA) taking effect in 2024.

3. Open Data: Emphasizing open data practices by making publicly accessible and user-friendly datasets available on data.gov.gr, utilizing AI tools, and complying with the EU Data Governance Act (2022) and Data Act (2023).

4. Digital Accessibility: Working to align public websites and applications with international standards to ensure all citizens can fully participate in the digital world.

  • Strategic Positioning as a Regional Hub: Greece is positioning itself as a regional data and innovation hub in the Mediterranean. This has attracted substantial investment from U.S. technology firms, including Microsoft, IBM, Hewlett Packard Enterprise, Digital Realty, Amazon, Google, Starlink, META, Fortinet, Palo Alto Networks, and others, which have expanded their presence due to economic growth and digital opportunities. Significant initiatives include:

1. Microsoft’s “GR for Growth”: Establishment of three data centers in the Attica region and training 100,000 citizens in digital technologies by 2025.
2. Deloitte’s Alexander Competence Center (DACC) S.A.: Launched in Thessaloniki, this hub focuses on developing next-generation innovation services and talent, employing around 1,000 young professionals.
3. Accenture’s Longstanding Presence: With over 1,150 consultants in Greece, Accenture continues to invest in local talent and innovation.

ICT Market Segmentation and Leading Sectors

The Greek ICT market is characterized by diverse product offerings, encompassing:

  • Hardware: Including servers, networking equipment, storage devices, and personal computers.
  • Software: Ranging from enterprise resource planning (ERP) systems to customer relationship management (CRM) applications. Software and IT services are expected to experience the fastest growth rates.
  • IT Services: Including consulting, integration, and managed services.
  • Telecommunication Services: Encompassing fixed-line and mobile telephony, broadband internet access, and data center services. This segment is poised to dominate the market throughout the forecast period, driven by substantial network infrastructure investments.

Leading adopting sectors leveraging ICT for enhanced operational efficiency, improved customer service, and cybersecurity enhancements include banking, financial services and insurance (BFSI), IT and Telecom, and Government sectors. Energy, utilities, retail and e-commerce are also expected to see notable investment.

The competitive landscape is moderately concentrated, dominated by global giants like Google LLC, Microsoft Corporation, AWS, IBM, Oracle Corporation, Cisco Systems Inc, SAP SE, HP Inc, Dell Technologies Inc, and Intel Corporation, alongside a vibrant ecosystem of smaller, specialized regional firms.

Market Challenges

Despite the robust growth, the Greek ICT market and broader digital economy face several challenges:

  • Digital Literacy Gaps: Relatively low digital literacy among certain segments of the population remains a hurdle to widespread digital adoption.
     
  • Bureaucracy and Regulatory Hurdles: Businesses frequently encounter challenges due to bureaucracy and changes in the tax and regulatory environment.
     
  • Limited Availability of Skilled IT Professionals: A shortage of skilled IT professionals continues to be a constraint on market expansion.
     
  • Economic Uncertainties and Budget Constraints: While the economy is improving, historical uncertainties and budget limitations can impact technology spending.
     
  • Stiff International Competition: U.S. firms face strong competition from established ICT markets such as France, Germany, China, and the U.K.
     
  • EU Procurement Regulations: EU suppliers benefit from duty-free status and proximity. Additionally, many projects financed by EU loans require awards to EU-based entities, potentially limiting opportunities for non-EU firms.
     
  • Public Sector Procurement: The public sector, which accounts for over 40 percent of GDP, is a significant component of the commercial landscape. The Government of Greece often prefers, and sometimes requires, foreign bidders to partner with Greek companies.
     
  • Complexity of EU Legislation: While barriers are generally low for U.S. exporters and investors in the EU, differences in how EU Directives are transposed into national legislation across member states, including Greece, can complicate compliance and increase costs for U.S. companies.

Opportunities

Greece’s ambitious “Greece 2.0” program, coupled with the ongoing digital transformation, presents a wealth of digital trade opportunities. With a significant $8.9 billion allocated from the EU’s $34.5 billion Recovery and Resilience Facility (RRF) package for digital transformation, Greece is poised to make substantial strides in several key areas:

  • Next-Generation Infrastructure: A focus on 5G network development, backed by a $176 million investment, will unlock faster connectivity and enable innovative applications and services across all sectors, creating opportunities for network equipment providers and service implementers.
     
  • Empowered Public Sector: A substantial $1.43 billion investment in the digital transformation of government services signifies a strong commitment to streamlining processes, enhancing transparency, and improving citizen engagement. This provides significant opportunities for providers of e-government solutions, cybersecurity tools, and public sector IT services.
     
  • Digital Savvy Businesses: A dedicated $413 million for business digitalization opens doors for SMEs to embrace digital tools and processes, increasing efficiency, competitiveness, and access to new markets. This includes opportunities for cloud-based solution providers, software vendors (ERP, CRM), and IT services (consulting, integration, and managed services).
     
  • Future-proof Workforce: Significant investments exceeding $550 million in the digital transformation of education and health systems, coupled with $825 million allocated to digital upskilling programs, ensure Greece’s workforce is equipped for the digital age. This creates opportunities for educational technology providers, training platforms, and vocational digital skills programs.
     
  • Advanced Technological Solutions: U.S. firms are recognized leaders in providing advanced technological solutions, including cloud services, database systems, applications infrastructure, and cybersecurity. Given the growing demand for these sophisticated and secure ICT solutions, substantial opportunities exist for international players to offer their expertise and products to both the public and private sectors in Greece.
     
  • Emerging Technology Adoption: The increasing demand for AI, machine learning, big data analytics, edge computing, and IoT devices across various industries presents significant opportunities for companies specializing in these advanced technologies.
     
  • Supercomputing & AI Factories: Greece’s ambitious EU-funded Pharos AI factory powered by the DAEDALUS supercomputer, creates a significant market for U.S. expertise in advanced computing. This includes: 
    o    AI hardware and optimization tools.
    o    High-performance computing (HPC) solutions.
    o    Scalable cloud services.
     
  • Cybersecurity Enhancements: With the establishment of the National Cybersecurity Authority (NCSA) and alignment with EU regulations, the demand for robust cybersecurity solutions will continue to grow, offering a vital market for security software, services, and infrastructure providers.

By strategically addressing infrastructure gaps, fostering digital skills development, and capitalizing on the increasing demand for sophisticated and secure ICT solutions, Greece is poised for continued growth in its digital economy, offering ample ground for digital trade.

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