Shipping could add to GDP by 6.1 percent, says IOBE

Greeks in the oceangoing shipping market could contribute as much as 26 billion euros per year to the local economy – up from the current 12.7 billion euros – if they were to do the same amount of business in Greece as they do abroad, according to a survey presented on Tuesday by the Foundation for Economic and Industrial Research (IOBE).

“If as a country we could attract ship management companies of a size similar to the presence of Greek shipowners abroad, that would bring about added value of 13.3 billion euros, which amounts to almost 6.1 percent of the country’s gross domestic product,» explained Angelos Tsakanikas, research director at IOBE.

The study has found that such an expansion in Greece would add some 330,000 jobs to the existing 220,000 in the sector.

For every 1,000 invested in maritime transport, the added value generated in other economic sectors amounts to an estimated 1,575 euros.

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