Construction Activity In Greece: Key Trends and Opportunities to 2020

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.

Summary

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

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Scope

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

Reasons To Buy

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.

Key Highlights

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.

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