Quick Guide to Greece: Business, Economy, Culture and Tourism

GREECE – THE ANCIENT AND MODERN

To describe Greece in one Hub is an almost impossible task, so I will have to skim over a few points. The long history and rich culture of this ancient land could take up many Hubs, but I will try to sum up some of the main points.

THE GREEK ECONOMY

The mainstay of the Greek economy is tourism, pouring billions of Euros into the coffers every year. Over 17 million tourists visit the country annually, enjoying the relaxed lifestyle and unique sights. Many emigrant Greeks from the wide Diaspora scattered across Australia, Canada and the US visit for long periods, further injecting foreign money into the economy.

Greece is the traditional powerhouse of world shipping, and the country operates the largest merchant fleet in the world, capturing around 18% of the world’s tonnage every year. Recent times saw an increasing use of ‘Flags of Convenience’ by many Greek shipping companies; changes in the law are enticing shipping magnates to fly the Greek flag once again.

The other big traditional industry is agriculture, with large parts of Greece devoted to olives, oranges and cotton. Whilst agriculture is on the decline in most of Europe, Greek olives and oranges are amongst the best in the world, so there will always be a market for Greek produce. Agriculture is still subsidised, so the traditional methods used may have to become more intensive if the European Union cuts the funding for Greek farmers.

It is not all sun, sea and olive farming in Greece. Athens and Thessalonica are modern and cosmopolitan cities, involved heavily in banking, finance and IT. Greek companies and financial institutions invested heavily in the Balkans and Turkey, making Athens the major financial centre in South Eastern Europe. Greece is in the process of becoming an energy hub, supported by its huge fleet of tankers and by the fuel pipe lines from Russia to Western Europe passing through the country.

GREECE AND THE CREDIT CRUNCH

To a certain extent, Greece has been shielded from the worst of the credit crunch and the economy should survive the worst of the recession. The majority of Greek homes have been passed down through the family, and this avoids the over-inflated house prices and sub-prime mortgages that have caused financial meltdowns in other countries. The Greek economy is traditionally fairly stable, and the only problem is likely to be the aging population, which will place burdens on the social insurance system in the future. In this respect, Greece is no different from most developed countries.

Most of the economic problems from the economic crisis are as a result of ‘indirect effects.’ The government is pumping 36 billion into the banking system, mainly because governmental intervention in other countries has created unfair competition. So far, Greek banks have not reported any major issues, and there is no sign of the mass panic seen on Wall Street. Most of the banks were expanding into Turkey and the Balkans, rather than investing in US sub-primes, so the financial system appears to be on steadier ground.

The main effect on the Greek economy will be the knock-on effect to the tourist industry. There are worrying signs that fewer tourists are planning to visit next year, due to financial worries, and that is a potential worry. Reduced consumerism could have an impact upon the shipping industry, another potential blow to the economy.

GREEK POLITICS

As expected, the Greeks take an active interest in politics – they did invent democracy, after all. In contrast to the intense apathy shown by many other countries towards politics, Greeks love to debate and argue. There are two main parties in Greece, the New Democrats and PASOK, which are right and left of centre respectively. In Greece, the far left parties receive a reasonable percentage of the vote, and have a healthy number of seats in the proportionally representative parliament.

This is not the whole story, because every Greek is constitutionally guaranteed the right to protest in Athens, and they are not afraid to exercise their right. Every other day sees a demonstration of some type, and the Greek Government genuinely fears the people. After the Fascist regime of 40 years ago, the Greeks are very mistrustful of politicians. Personal freedom is a right in Greece and, so far, civil rights are respected by the authorities, although there are signs that this is slowly changing.

Bureaucracy is probably the biggest barrier to progress in Greece, and there is still corruption throughout all levels of the political system. It is difficult to get anything done, and a visit to the tax office involves a very long wait. Receiving official documentation involves a process of going around in circles, from office to office, until you discover who to shout at first. Once they finish talking in their mobile phone, and smoke half a packet of cigarettes, they may decide to give you an official stamp.

THE GREEK CULTURE

The Greek culture is extremely rich and varied, but filled with the Greek joy of life. The country is mainly Greek Orthodox Christian, but very tolerant of other religions. In terms of culture, it is very difficult to describe ‘Greek.’ Whilst there are certain traits shared by most of the population, each region and island has its own identity, and a fierce pride in their particular place in history.

Steeped in a long history of philosophy and science, the Greeks love the art of debate, and like to argue about everything. There is a strict protocol regarding this ancient practice, passed down from the times of the great philosophers. Two men may argue passionately about a topic, but if the discussion begins to offend one of the parties, they cease, and start to argue about something else. Politics, religion, football and basketball are national obsessions, and Greek children are taught basic philosophy as a matter of course.

The Greek diet is one of the healthiest in the world, with lashings of olive oil, fresh fish, fruit and vegetables. Greeks love to cook, and both sexes can throw together a wonderful dish with just a few simple ingredients. The wholesome and balanced diet gives the Greeks one of the longest average life spans in the world, despite the fact that most of them smoke. Despite the example of other European countries, a smoking ban in Greek bars and tavernas is not going to happen anytime soon.

Wine is usually the drink of choice but the aniseed flavoured spirit, Ouzo, is refreshing on a hot day, and also ‘loosens the tongue.’ Sitting in a taverna, watching the sunset, with great food, fine wine and good company is about as relaxing as life gets. The Greeks live every day, and refuse to subscribe to the stressful lifestyle of Western Europe.

Greek music varies from region to region, from the clarinet folk music of the north to the melancholic shepherd music of Crete. Most Greeks know how to dance, and any Greek party will inevitably descend into an impromptu dance.

The Greek language is an old language, using a 24 letter alphabet. Modern Greek is a difficult language to learn, and the sheer number of regional dialects and variations makes learning tough. For example, a Greek from Macedonia has difficulty understanding a Greek from Crete.

TOURISM IN GREECE

The economy is largely based upon the tourist industry, with over 17 million tourists visiting the country every year. Most tourists congregate in Athens and the Islands, but more adventurous types visit the mountains of the North, or the relatively untapped Peloponnese. In the tourist areas and Athens, most Greeks speak extremely good English, so communication is rarely a problem. In addition, the ancient Greek custom of Filoxenia (literally Love of Strangers), means that they are duty bound to show kindness and hospitality to visitors.

Athens is a pulsating and cosmopolitan city, where high finance and modern music mix with Ancient Greek plays and art, in a unique blend. The nightlife matches anything found in London or New York, with the added bonus that you can sit out in the square on a balmy summer evening.

For history lovers, Greece offers some of the most famous sites in the world. From the Acropolis in Athens, to Knossos in Crete, there is something for everybody. The ancient ruins are not all that Greece has to offer, as the country possesses a wealth of Byzantine ruins, and wonderful Greek Orthodox Churches with beautiful icons.

Nature wise, there is something for everybody, and this corner of the Mediterranean is home to some unique ecosystems. Everybody knows the beautiful blue Aegean Sea, but the Mountains of the North are home to bears and wolves, and the Peloponnese is a prime site for watching migrating birds. For the botanists, the wildflowers of Crete and the Mani peninsula carpet the spring mountainsides with vivid colours.

The only downside is that many of the major tourist spots have become inundated with hotels, destroying the natural beauty and attracting the worst elements from the UK, Holland and Italy. Malia, in Crete, is one example of a town infested with drunken tourists fighting and causing trouble. Still, if you are prepared to look away from the package holiday destinations, Greece is a wonderful country to visit and even better to live in!