Greece has a population of around 11.3 million that is growing slowly, with the largest ethnic groups being Greek (91%) and Albanian (4.5%). The economy relies heavily on services, tourism, and agriculture such as olive oil, feta cheese, and wine. Politically, Greece is a parliamentary republic with a president, prime minister, and 300-member parliament. Key challenges include high debt, unemployment, and pressure from illegal immigration along the Turkish border.

1. GREECE
Market Environment Analysis
ABSTRACT
Greece is a country in southeastern Europe with
thousands of islands throughout the Aegean and
Ionian seas. Greece is also known for its beaches,
from the black sands of Santorini to the party resorts
of Mykonos.
Writer
Madeeha Saeed (BSCS- Software Engineering)
PMAS UAAR UIIT, RWP

2. Market Environment Analysis
09-April-2018
Demographic Characteristics
As of 2010, the population stands at 11.3 million people. Its projected population at 2025
would be 400 000 people more, at 11.7 million people. This means that the population is
increasing very slowly. By 2050, the projected population predicts that the population will drop
from 11.7 million to 11.5 million people. (Ref: PRB)
There are 11 births per 1000 people and 10 deaths per 1000 people. Therefore the natural
growth rate is at 0.1% a year. (PRB)
The fertility rate is at 1.5 children per woman, increasing since the 20th century. Still, it's
low. The ideal fertility rate would be 2.1 children per woman. The country carries a 33%
population dependency load. 14% of the population is under 15. 19% of it is above 65. Greece
has a high average lifespan of 80, 77 for males, and 5 years higher at 82 for females. Its median
age for males is 41.1 while for females, it is slightly higher at 43.2. (PRB) Mortality for infants
and children are low. There are six children per thousand births who die before they reach the
age of five. For infants, the number is five per thousand deaths. (US Census Bureau)
The 2011 census found the population was comprised of Greek citizens (91%), Albanian citizens
(4.5%), Bulgarian citizens (0.7%), Romanian citizens (0.4%), Pakistani citizens (0.3%) and
Georgian citizens (0.25%).
According to the 2001 census, there were 762,000 people in Greece without
Greek citizenship, or about 7% of the population. Of non-citizens, about 49,000 were
EU nationals and 17,000 were Cypriots with privileged status. Most came from Eastern
European countries, including Albania (56%), Bulgaria (5%) and Romania (3%).
Components Of
Population
Change
One birth every 6 minutes
One death every 4 minutes
One net migrant every 53 minutes
Net loss of one person every 23 minutes

3. Market Environment Analysis
09-April-2018
Famous Products Of Greece
Mastiha Chios:
Exclusively produced on the Aegean island of Chios. The harvest is done the traditional
way in the 24 villages known as the Mastihohoria of Chios, which have been declared as
traditionally preserved settlements according to the Greek Ministry of Culture.
Feta:
Greek cheese is gaining ever more ground in exports. … Feta! Greece is second in cheese
suppliers in Cyprus with 21, 2% rate and fifth in Sweden with 9, 5%. Feta, the most famous and
expensive traditional Greek cheese, is a kind of cheese stored in brine. Feta is mainly being
produced in Macedonia, Thrace, Epirus, and Thessaly.
Olive Oil:
Olive oil doesn’t need recommendations. It is probably the most popular Greek product,
with many exports abroad. It stands for purity, excellent taste and high nutritional value.
Jams:
Jams are connected with Greek hospitality- filo xenia, as Greek people welcome their
guests with this local sweet. Jams may not be a primary product, but they are indeed one of the
most famous traditional Greek products abroad.
Macedonian Halva:
Primarily produced in northern Greece, Macedonian halva has sesame as its basic
ingredient, which is rich in vitamins E, B1, B2, calcium, potassium, and phosphorus.

4. Market Environment Analysis
09-April-2018
Famous Brands of Greece
(Cont...)
Ancient Greek Sandals:
From Emma Watson to Rihanna, many celebrities choose to elevate their summer looks
with a pair of Ancient Greek Sandals. Influenced from the widely-worn traditional leather
sandals sold in every corner of Greece, the brand’s designers wanted to create a pair of sandals of
high quality that would last for summers and summers.
Koku:
A splash of bright color makes these bags essential for your summer travels. Fun
designs, delicate crafting and made with care in Greece.
Geography of Greece
(Mohammad Ismail)
Mainland Greece is a mountainous land almost completely surrounded by the
Mediterranean Sea. Greece has more than 1400 islands .The country has mild winters and long,
hot and dry summers Ancient Greeks were a seafaring people they traded with other countries
around Mediterranean Many cities created settlements over as known colonies. Greek cities were
founded around the black sea North Africa, Italy, Sicily, France and Spain. Many tales and
legends grew up hearing about the strange land creatures that could be found across the sea.
Climate of Greece: Climate of Greece is divided into three main types:
1. Mediterranean climate
2. Alpine climate
3. Temperate climate

5. Market Environment Analysis
09-April-2018
Physical Geography:
It has total area of 131,957 kms, land boundaries with Albania (212km), Republic of
Macedonia (234km), Bulgaria (472km) and Turkey (192 km) measure approximately 1,110 km
in total. 80% of Greece is mountainous .The Pindus mountain range lies across the center of the
country in a north west- to- southeast direction, with maximum elevation of 2,637 m.
Mount Olympus is the highest point in Greece and the fourth highest in relative topographical
prominences in Europe, rising to 2,919 m above sea level. Greece lowest point is sea level,
plains are found in eastern Thessaly in central Macedonia and in Thrace.
Islands:
Greece has a vast number of island with most of them being the Aegean Sea and rest in
the eonian sea estimate of the number of island vary between 1200 and 6000. The Greek tourism
organization reports a figure of 6000, with 227 of them inhabited. Paris match however raises
this number two 9,841 islands of which only 169 have a recorded continuous human presence.
The Greeks islands account for about 20% the country total territory and very greatly in size as
well as in climate .The country largest island is Crete with Euboea being second largest.
Crete:
Crete is the largest island of the Greece and the second largest in the eastern
Mediterranean after Cyprus the island spans 2160km from east to west and 60km from north to
south at its widest the island narrows in the reign close to lerapetra, where it is only 12km wide.
Crete covers an area of 8,336kms with a coast line of 1046km. It is surrounded to the north by
the sea of Crete to south by Libyan sea to the west by the Mirtoan Sea and to the east by the
Extremities of
Greece:
North: Ormenio Village
South: Gavdos Island
East: Trongyli Island
West: Othonoi Island

6. Market Environment Analysis
09-April-2018
Carpathian sea is the lies about 160km south of the Greek mainland. Crete Rivers include the
Leropotamos River in the southern part of the island.
Land use: Arable land: 19.71%, Permanent crops: 8.95%, other: 71.37%, Irrigated land 15,500 kms
Environment:
Greece natural hazards includes severe earth quakes; floods, droughts, and wild fires.
Current environmental issues include air pollution and water pollution, Air pollution, Air
pollution-Nitrogen Oxides, Air pollution-Sulphur 94, Antarctic-Environmental Protocol.
Economic Environment
Background:
Greece’s economic freedom score is 57.3, making its economy the 115th freest in the
2018 Index. Its overall score has increased by 2.3 points, with dramatic increases in the scores
for government spending and fiscal health easily offsetting declines in investment freedom and
government integrity. Greece is ranked 43rd among 44 countries in the Europe region, and its
overall score remains below the regional and world averages.
Under the supervision and guardianship of its international creditors, Greece has made
progress in restoring macroeconomic stability and implementing much-needed initial fiscal
adjustments. The public sector still consumes more than 50 percent of GDP, however, and
Greece continues to confront a daunting debt burden and severe erosion of competitiveness. The
rigid labor market impedes productivity and job growth, and corruption remains a problem. The
economy is hostage to powerful public unions, and the government’s statist model undermines
entrepreneurs.
Rule Of Law:
Laws to protect property rights are not strongly enforced, but enforcement of contracts
has improved. Greece has an independent judiciary, but the court system is sometimes
inefficient. Corruption remains a problem, and officials sometimes engage in corrupt practices

7. Market Environment Analysis
09-April-2018
with impunity. While tax enforcement efforts have become more robust in recent years,
authorities have largely failed to prosecute tax evasion.
Government Size:
The top personal income tax rate is 42 percent. The top corporate tax rate has been
increased to 29 percent. The overall tax burden equals 36.8 percent of total domestic income.
Over the past three years, government spending has amounted to 51.3 percent of total output
(GDP), and budget deficits have averaged 2.4 percent of GDP. Public debt is equivalent to 181.3
percent of GDP.
Regulatory efficiency:
With government focused on avoiding political or economic collapse, little attention has
been paid to improving a business regulatory environment that ranks near the middle for
European countries. Labor regulations are restrictive, and labor mobility is lacking. The
government continues to maintain some direct price controls on goods and services, and some
well-connected special interests receive poorly targeted subsidies.
Open Markets:
Trade is significant for Greece’s economy; the combined value of exports and imports
equals 61 percent of GDP. The average applied tariff rate is 1.6 percent. Nontariff barriers
impede trade. Government openness to foreign investment is below average, but inflows of
foreign direct investment have resumed. The financial system’s overall stability has been
severely undermined by the crisis, and banks remain under significant strain.

8. Market Environment Analysis
09-April-2018
Politics Of Greece
Politics of Greece takes place in a parliamentary representative democratic republic,
whereby the Prime Minister of Greece is the head of government, and of a multi-party system.
Legislative power is vested in both the government and the Hellenic Parliament. The Judiciary is
independent of the executive and the legislature.
The Constitution of Greece:
The Constitution of Greece, which describes Greece as a "presidential parliamentary republic",
includes:
 Extensive specific guarantees of civil liberties and vests the powers of the head of
state in a president elected by parliament.
 Prime minister and cabinet play the central role in the political process, while the
president performs some executive and legislative functions in addition to
ceremonial duties.
 Voting in Greece is compulsory but is not enforced.
Executive Branch: The Cabinet of Greece, which is the main organ of the government, includes
the heads of all executive ministries, appointed by the president on the recommendation of the
prime minister.
President: The President of the Republic is elected by the Parliament for a five-year term
(election last held 13 March 2015), and a maximum of two terms in office. When a presidential
term expires, Parliament votes to elect the new President. In the first two votes, a 2⁄3 majority
(200 votes) is necessary. The third and final vote requires a 3⁄5 (180 votes) majority. If the third
vote is fruitless, Parliament is dissolved and elections are proclaimed by the outgoing President
within the next 30 days.

9. Market Environment Analysis
09-April-2018
Prime Minister: The prime minister is elected by the people and he or she is usually the leader
of the party controlling the absolute majority of Parliament members. According to the
Constitution, the prime minister safeguards the unity of the government and directs its activities.
He or she is the most powerful person of the Greek political system and recommends ministers to
the President for appointment or dismissal.
Legislative Branch:
Greece elects a legislature by universal suffrage of all citizens over the age of 18. The
Greek Parliament has 300 members, elected for a four-year term by a system of reinforced
proportional representation 288 of the 300 seats are determined by constituency voting, and
voters may select the candidate or candidates of their choice by marking their name on the party
ballot. The remaining 12 seats are filled from nationwide party lists on a top-down basis and
based on the proportion of the total vote each party received.
Foreign Relations:
Greece enjoys a prominent geopolitical role, due to its political and geographical
proximity to Europe, Asia, the Middle East, and Africa. Its main allies are France, Italy,
Bulgaria, United States, the other NATO countries like Albania, and the Union. Greece also
maintains strong diplomatic relations with Cyprus, Albania, Russia, Serbia, Armenia and Israel.
Political Issues
(Cont.)
Education:
Under the Greek constitution, education is the responsibility of the state. Most Greeks
attend public primary and secondary schools. There are a few private schools, which must meet
the standard curriculum of and are supervised by the Ministry of Education. Additionally, every

10. Market Environment Analysis
09-April-2018
year, tens of thousands of Greek students are not accepted to the state-run University system and
become "educational immigrants" to other countries' Higher Education institutions, where they
move to study
Judicial System:
One of the main problems of the system is the long-time process needed, even for a
simple case, something that negatively impacts investment, entrepreneurship, social relations,
corporate governance, and public governance Also corruption cases have appeared during the
last years.
Illegal Immigration:
Greece has problems with illegal immigration, especially from or via Turkey. Greek
authorities believe that 90% of illegal immigrants in the EU enter through Greece, many fleeing
because of unrest and poverty in the Middle East and Africa. Several European courts have held
that Greece is not complying with minimum standards of treatment for asylum seekers, so that
illegal migrants who reach other countries cannot be sent back to Greece
Media:
The Greek media, collectively, is a very influential institution – usually aggressive,
sensationalist. As with many countries, most of the media are owned by businesses with
commercial interests in other sectors of the economy. There are often accusations of newspapers,
magazines, and radio and television channels being used to promote their commercial enterprises
as well as to seek political influence.
The End
(Document Formatting & Compilation: Madeeha Saeed)