- (1: 00 ) – Is Greece Making A Comeback?
- (5: 10 ) – Greece’s Problematic Economy
- (7: 50 ) – Privatization in Greece
- (10: 30 ) – Greeks Leaving The Country To Find Work
- (15: 20 ) – Tax Avoidance and ATM Restrictions
- (18: 00 ) – How To Invest In Greece:
- (25: 00 ) – Episode Roundup: Podcast@Zacks.com
Welcome to Episode #99 of the Zacks Market Edge Podcast.
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life.
In this episode, Tracey is joined by Zacks Harry Kougias, who spent 4 months in Greece this year and is a Greek expat. For the third time on the podcast, he shares his observations about the Greek economy.
There are signs that Greece may be turning it around economically.
The Good Signs for Greece
In July 2017, Greece held its first successful bond sale in 3 years, raising 3 billion euros.
2017 is also expected to be Greece’s best for tourism ever. Over 30 million visitors are expected this year, up from 27.5 million 2016. Some islands are seeing so many tourists they’ve had to put a cap on visitors.
Popular Santorini received over 600 cruise boats in 2016. On some days, nearly 20,000 cruise ship passengers would disembark, overwhelming the small island. In response, Santorini joins other popular vacation destinations like Venice and Barcelona, in restricting the number of tourists who can enter each day.
Tourism is 24% of Greece’s GDP. 8 in 10 new jobs were created through the tourist sector.
But even with that success, it has been an uneven recovery. Not every island is Santorini. And because tourism is so seasonal, with many places shutting down in the winter months, it’s very difficult to make a living at it.
The Bad Signs for Greece
Even with tourism soaring, unemployment remains the highest in the Eurozone at…