New business registrations in Greece rose 18.3% in 2024, with 132,507 companies launching operations, according to data from the Hellenic Statistical Authority.
The increase signals a strong recovery in entrepreneurship, while bankruptcies fell 12.3% to 200 cases from 228 the previous year.
Growth was driven by the "Transportation and Storage" sector, which saw a 35.3% rise in new businesses, and "Construction," which increased by 17.3%.
However, not all sectors expanded.
The "Electricity, Gas, Steam, and Air Conditioning Supply" sector declined 26%, while "Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles" dipped 0.5%.
The fourth quarter of 2024 was particularly strong, with 34,784 new businesses registered—up 26.3% from the same period in 2023 and 28.3% from the third quarter.
The "Electricity, Gas, Steam, and Air Conditioning Supply" sector led the quarterly growth at 26.3%, followed by "Transportation and Storage" at 26.1%. In contrast, the "Manufacturing" and "Financial and Insurance Activities" sectors saw declines of 12.3% and 9.2%, respectively.
The data highlights a mixed but largely positive economic outlook, with key industries showing resilience despite ongoing challenges. The decline in bankruptcies points to a stabilizing business environment, though sectoral disparities reflect an uneven recovery.
Economists credit the surge in new businesses to improved investor confidence, government incentives, and a broader economic rebound after years of austerity.
However, they note that sustaining growth will require further reforms and support for weaker sectors.
As Greece moves forward, the rise in entrepreneurship is a promising sign of economic momentum, though ensuring balanced growth across all industries remains a challenge.