The dynamic progress Greece has made in the field of audiovisual production in recent years is reflected in a new study by the Foundation for Economic and Industrial Research (IOBE), conducted with the support of EKOMED, titled “Audiovisual Production in Greece: Trends, Economic Contribution, and Growth Prospects.”
The study’s findings highlight a rapidly evolving sector that attracts investment, creates new businesses and jobs, while simultaneously strengthening the country’s position on the European audiovisual production landscape.
In this context, the audiovisual sector is not only a cultural and creative industry but also a sector with significant economic, developmental, and outward-looking dimensions, with impacts ranging from employment and investment to tourism, innovation, and the digital economy.
The Economic Impact
According to the IOBE study, the total impact of the audiovisual sector (production of works and broadcasting activities) is estimated at approximately 1.9 billion euros in terms of GDP, supports nearly 44,000 full-time jobs, and is linked to public revenues of 581 million euros.
These estimates include not only the sector’s direct effects but also the indirect and induced effects generated in the broader economy.
As the study shows, for every 1 euro of direct contribution by the audiovisual sector to GDP, an additional 1.47 euros is generated in the Greek economy.
In other words, the total impact on GDP amounts to 2.47 euros, with a significant portion of the multiplier effects stemming from household consumption expenditure (induced effect).
Similarly, for every 1 euro added to GDP from the domestic production of a feature film, another 1.67 euros is generated in the economy; that is, the total impact on GDP amounts to 2.67 euros.
Finally, for every 1 euro added by the domestic production of a video game, the total impact on GDP amounts to 2.71 euros.
A Rapidly Growing Sector
According to the IOBE study, the gross value added of the overall audiovisual sector in Greece reached 756 million euros in 2024, marking a 78% increase compared to 2013.
At the same time, the sector’s total production value reached 1.4 billion euros, confirming its significant economic importance.
The sector’s growth trajectory is even more clearly reflected in investment figures. Investment in the audiovisual sector more than doubled over the course of a decade, rising from 146 million euros in 2013 to 337 million euros in 2024, while 2023 saw a decade-high of 390 million euros in investments.
This trend places Greece among the countries with the highest investment intensity in the audiovisual sector at the European level, while also indicating a strengthening of the sector’s domestic production capabilities.
Developments in the audiovisual production and film exhibition sector have also been particularly positive. The turnover of companies in the sector increased by 137% between 2013 and 2024, reaching 745 million euros, while employment rose by 147%.
Today, approximately 3,000 companies operate in the sector, employing more than 12,700 workers.
These figures show that the sector’s growth is not only driven by attracting international producers but also by the gradual expansion of the domestic production base.
Greece’s Strengthening Position in the European Market and the Role of Incentives
The study also documents the significant progress of the domestic sector at the European level. The audiovisual sector’s contribution to Greek GDP has now converged with the European Union average, whereas a decade ago it lagged significantly behind.
As a result, Greece is gradually assuming a more substantial role in the European audiovisual content production ecosystem.
A key factor in this positive development was the implementation of investment and financing incentives, most notably the cash rebate mechanism, which enhanced the country’s appeal to both domestic and international productions.
According to the study, from 2019 through mid-2026, more than 307 million euros were made available to support the production and promotion of audiovisual works, helping to mobilize investment and expand the sector’s production base.
A significant contribution to boosting tourism
Another finding of the study concerns the contribution of international producers to boosting tourism.
The analysis shows that the growing presence of international film and television producers in Greece is linked to an increase in tourist flows to the regions where filming takes place.
International productions that took advantage of the country’s investment incentives were filmed not only in Attica but also in popular destinations such as the Cyclades, Crete, and Corfu, thereby enhancing the country’s international profile.
The IOBE study shows that the popularity of these productions is correlated with increased arrivals of foreign tourists in the regions where filming took place.
At the same time, it is estimated that a €1,000 increase in total cash rebate spending for international productions filmed in a regional unit is associated with an increase in foreign tourist arrivals ranging from 31 to 43 people. In terms of tourism spending, the corresponding increase is estimated at between 17,700 and 24,600 euros. These findings confirm that audiovisual production also serves as a tool for promoting the country internationally.
Digital games: a new sector with significant prospects
The study places particular emphasis on the digital games sector, which, although still in its early stages of development in Greece, shows significant potential.
The international digital games market is currently a rapidly growing sector of the creative economy, and it continues to grow at a steady pace in Europe as well.
In Greece, there were eighteen digital game development studios and ninety employees at such companies in 2023, a number nearly three times that of 2021.
At the same time, the country already offers university and educational programs related to digital game development, laying the groundwork for the development of a specialized workforce.
The study points out that the further development of the sector could represent a significant opportunity for the Greek economy, particularly given its growth potential and its connection to new technologies and innovation.