MarketResearchReports.biz has recently announced the addition of a market study “ Construction in Greece - Key Trends and Opportunities to 2020 ”, is a comparative analysis of the global market.
Construction activity in Greece was weak during the review period (20112015) following the economic crisis, which resulted in a deteriorating business environment. Weak economic conditions, public spending cuts, poor fixed-capital investments and a high rate of unemployment had a negative impact on the construction industry during this period.
The industry is expected to remain subdued during 2016; the government is expected to cut down its expenditure due to high levels of public debt.
The industry is expected to bounce back, however, and register positive growth in 2017, driven by the governments effort to revitalize economic growth, coupled with substantial financial assistance coming through bailouts from major organizations such as the European Union (EU) and the International Monetary Fund (IMF).
Over the forecast period, the industry is also expected to be supported by gradual improvements in business confidence, as well as subsequent public and private sector investments in transport, residential and commercial construction projects.
The industrys output value is expected to rise at a compound annual growth rate (CAGR) of 1.02% in real terms over the forecast period (20162020); up from -14.09% during the review period.
Timetrics Construction in Greece Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Greek construction industry, including:
The Greek construction industry's growth prospects by market, project type and construction activity
Analysis of equipment, material and service costs for each project type in Greece
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Greek construction industry
Profiles of the leading operators in the Greek construction industry
Data highlights of the largest construction projects in Greece
This report provides a comprehensive analysis of the construction industry in Greece. It provides:
Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Greece using construction output and value-add methods
Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type
Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
Analysis of key construction industry issues, including regulation, cost management, funding and pricing
Detailed profiles of the leading construction companies in Greece
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Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies.
Assess market growth potential at a micro-level with over 600 time-series data forecasts.
Understand the latest industry and market trends.
Formulate and validate strategy using Timetric's critical and actionable insight.
Assess business risks, including cost, regulatory and competitive pressures.
Evaluate competitive risk and success factors.
In the wake of the countrys poor economic performance between 2011 and 2015, the European Investment Banks (EIB) financial assistance enabled the government to support investments in various sectors, including the transport, energy, industrial and health and education sectors. During the 20112015 period, the EIB provided a total investment of EUR5.9 billion (US$6.6 billion) to the country.
In a bid to boost the Greek economy, in May 2016 the Government Council for Economic Policy approved 42 investment projects worth EUR5.4 billion (US$6.0 billion) across the transport, energy, tourism, research and development, and information and technology sectors.
In March 2016, the EU granted approval for the implementation of the Trans Adriatic Pipeline project in Greece. The 878km-long new gas pipeline project, which constitutes a part of the Southern Gas Corridor, will enable the transmission of Caspian natural gas to the European countries, passing through Greece, Albania and the Adriatic Sea. The total investment of the project is estimated at EUR5.0 billion (US$5.6 billion), while investment in Greece amounts to over EUR2.3 billion (US$2.6 billion). The project is expected to be completed in 2020.
In a bid to revitalize economic growth and attract investments into the countrys residential property sector, the government aims to attract a greater number of immigrants into the country. Accordingly, the government has intensified its efforts by providing a five-year residential permit to non-EU citizens who would invest in real estate worth EUR250,000 (US$331,935.2) or more in the country. The governments move is expected to attract foreign investments in the Greek residential property sector over the forecast period.
With an aim to improve the efficiency of electricity networks across Greek islands, the EIB announced investments worth EUR285.0 million (US$316.6 million) in November 2015 for the implementation of various energy projects. These investments include the construction of high voltage power stations, and the upgrade of metering systems and other related infrastructural facilities in Dodecanese, Diapontia and the Cyclades Islands.