The Economy of Greece
Greece at a Glance
Greece is a southern European economy built on tourism, shipping and agriculture, best known globally for its debt crisis of 2009 to 2018.
Greece has about ten million people and a large services sector, and it is a member of the European Union and the euro area.
Main earners
Tourism, shipping, food and agriculture are key, with olive oil, feta cheese and fruit exports.
Structure
Many small family firms, a large public sector and a large informal economy.
Why study it
The Greek crisis shows what happens when a country in a currency union runs up unsustainable debt.
Millions of visitors come to Greek islands each summer, supporting hotels, restaurants and ferries.
Shipping, agriculture and services also matter.
- Greece has a tourism-led services economy.
- It is in the euro area.
- Family firms are common.
- The crisis is its defining episode.
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