Shipping sector's economic impact on Greece's economy reaches 14 billion dollars

February 14, 2025
Written by E.Tsiliopoulos

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Shipping sector's economic impact on Greece's economy reaches 14 billion dollars

A report by McKinsey & Company, conducted in cooperation with the Hellenic Shipowners' Association, highlights the central role of Greek-owned shipping in the global and domestic economy. The study highlights the industry's catalytic contribution to international trade while analysing the challenges and opportunities shaping its future. The industry's economic footprint in the domestic economy amounts to 14 billion dollars.

According to the same report, the success of the Greek shipping industry is due to a number of factors, such as the long tradition, technical expertise, and business acumen of Greek shipowners, as well as Greece's strategic geographical location. "Other nations with smaller economies and specialised know-how could draw inspiration from Greek shipping to make their local industries more important on the global stage," it says, noting that Greece, which accounts for less than 0.3% of the world's total shipping industry, is a major contributor to the global shipping industry.

This disproportionate influence underlines the strategic importance of shipping for Greece, with the industry affecting one in 15 jobs in the domestic private sector.

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