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Investment Profile of the Region of Western Greece

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Investment Profile of the Region of Western Greece Region of Western Greece ‐ Investment Profile January 2012 0 Contents 1. Profile of the Region of Western Greece 2. Western Greece’s competitive advantages 3. Investment opportunities 1 1. Profile of the Region of Western Greece 2 Region of Western Greece : Quick facts Investment incentives quick facts Operational Program‘ Western Greece 2007‐ 2013 ‘: € 1,315 b New Investment law: Subsidies of up to 50% for business plans. Jessica Holding Fund: €15m • Western Greece is one of the thirteen regions of Greece. It comprises the western part of continental Greece and the northwestern part of the Peloponnese. • Main economic activities include agriculture and tourism services. Demographics and Workforce quick facts Population: 621,000 • As in many other Regions of Greece, production of wine and olive oil is significant. Dairy products are also important to the local GDP per Capita: 68.4% of the EU average economy as well as fish farming, unique to the area and a Contribution to Greek GDP: 5.12% (2008) traditional source of income. Total workforce: 316,000 • Western Greece is quickly becoming one of the top tourism destinations in Greece. The emergence of new hotel units and Unemployment rate: 16,1% new investments in the area have strengthened the local economy and are currently changing the overall profile of economic activity. Source: economics.gr, statistics.gr 3 2. Western Greece ’s competitive advantages 4 Western Greece has a breathtaking geography to offer •The Region of Western Greece is privileged in terms of the natural environment. The region accommodates many, various and significantly sensitive ecosystems. It is characteristic, that from the eleven wetlands of international importance that exist in Greece and who have also joined in the Ramsar agreement , the three are located in Western Greece Region. These are: ‐Lagoon of Messologi ‐Amvrakikos Gulf ‐Lake Kotychi Furthermore the Region is characterized by the existence of protected aesthetic forests and monuments, and vital places of great natural beauty. • The total area of the Region is 11.350 km2 and covers 8.6% of the total area of the country. The largest percentage of the land is mountainous (45.3%) and hilly (25.6%), while only 29.1% is flat. The Western Greece has also, an extensive coastline and its total area is bordering with the Ionian Sea and the Gulf of Amvrakikos, Patras and Corinth. •The geomorphology of Western Greece has great diversity. It includes mountains with a very high altitude (Aroania 2.335m, Erymanthos 2.222m, Panachaiko 1.926m), large natural lakes (Trichonida 95,8km2, which is the largest of the country, Amvrakia 14,4km2, Lysimachia 13m2, Kaiafa etc.) and rivers (AhlAcheloos 220 km, whic h is thesecond river in lthlength of Greece, Peneus, Alpheus, Evinos, Selinountas, Vouraikos, Peiros and Glaucus). 5 The Region of Western Greece boasts significant performance indicators Welfare indicators Key performance indicators Western Total 2001 2002 2003 2004 2005 2006 2007 2008 2009 Indicator Greece Greece Greece Population (000s)** 621,9 9.337,6 GDP (€ m) 6.642 7.026 7.735 7.992 8.485 9.140 9.850 10.351 n/a 237.494 % Agriculture 16.3% 15.1% 13.7% 12.9% 12.5% 10.0% 10,4% 9.6% n/a 3.8% €14.4 €21.3 GPD per capita * (000s) (000s) % Industry 22.9% 20,8% 21.0% 21.3% 20.8% 22.8% 20.5% 22.3% n/a 16.3% €15.4 €16.7 Income per capita * % Services 60.7% 64.1% 65.3% 65,9% 66.7% 67.1% 69.1% 68.1% n/a 79.9% (000s) (000s) New houses built 7104 8945 7619 7827 12395 6699 6265 4807 4571 61,490 €10.7 €18.8 Savings per capita (000s) (000s) Savings (€m) n/a 3,556 3,912 4,340 5,202 5,704 6,455 7,529 7,959 211.469 Population growth per ‐0,2 0.9 Cars (000s) 119 125 131 138 159 166 175 183 186 5,132.0 1,000 inhabitants* Power Primary school 55.902. consumption 2.101.860 2.204.478 2.352.057 2.422.284 2.409.610 2.579.036 2.650.789 2.742.879 n/a students per 1,000 55 56 000 (MWh) inhabitants 5* hotels 1 1 1 1 1 2 2 52 3 280 Unemployment rate** 16,1% 16,3% 4* hotels 14 14 17 20 23 25 25 29 30 1,164 Source: economics.gr, ΟΑΕΔ ; * Indicated data refer to 2008, otherwise to 2009 **Q2 2011 Source: economics.gr 6 Western Greece attracts significant domestic as well as foreign investment Greek vs Foreign Investments per region (2004‐2010) 1400 1200 1000 800 million) (( 600 Euros 400 200 0 Region Foreign Greek Source: Invest in Greece Agency 7 Western Greece offers an ideal environment for investment…. Western Greece’s advantages ..are enhanced by investment incentives Western Greece boasts an number of attractive features such as: • Under the new Investment Incentives Law*, Western Greece 1. SiStrategic lilocation lin king the PlPeloponnese wihith themailinlan d enjoys attractive investment incentives varying from 40% to 50% Greece and Epirus. It is regarded as the western gateway to the of the total investment cost, according to the area and the size of Adriatic Sea and Western Europe the company 2. The organized industrial area (VI.PE of Patras) and the industrial • The new Law focuses on supporting sustitaina ble park Glaukou of Patras (VIO.PA) are providing opportunities for investment projects with efficient tax breaks, favorable further development of manufacturing activities loans and state aids in selected business activities 3. Great existing infrastructure (New Port of Patras, Commercial port Platygiali Astakos, PATHE, Rio‐ Antirio Bridge) provides direct access to markets both domestic and overseas 4. Operation of Research Institutes with International Range 5. Rich Aquatic Resources 6. Tourism and Cultural resources (the famous Ancient Olympia, the Ancient Elis, the host city of Olympic Games etc) 7. Environmental resources that are protected by international conventions (NATURA, RAMSAR). 8. Opportunity for further development of Wind & Hydro Energy ….with improving infrastructure * Please refer to the full text of the new Law 3908/2011 for detailed and analytical information 8 Large Infrastructure projects through a Strong Development Program (P.EP. 2007‐2013) Ongoing Development Projects in the Region of Western Greece ¾ Upgrade of the Road Killini ‐ National Route of Patras – Pyrgos. Budget : 7.8 million € ¾ Katakolo Port The overall project aims to the development and exploitation of the tourist port Katakolo Ileias, which is the largest cruise destination in Greece and also is associated with the famous tourist destination of Ancient Olympia. ¾ Paraionia Highway This project involves the construction of anew road and tunnel in the Etoloakarnania prefecture Major Development Activities in 2011 Ongoing project with budget: 7.2 million € ¾ Construction of a new Road to the 9 110 New Projects included in the NSRF, with total budget 170 landfill Stratou, Etoloakarnania prefecture million € Budget : 11.3million € 9 19 million €, through the Investment Law for the subsidy of ¾ Completion of the Construction of new investments in tourism, manufacturing and service the ”General Hospital Agriniou “, Budget : 46 million € sectors ¾ Development of the General Hospital of Patras "Agios 9 Numerous of large and small infrastructure projects are Andreas", Budget : 22.5 million €. under implementation or tendering process (e.g. New Port of Aigion) 9 Activation of the Urban Renewal Scheme, with total budget 35 million € 9 Approval of 15 million € for the sustainable development of the Region through “Jessica Program” Source: Western Greece Region 9 3. Investment opportunities 10 Reasons to Invest in Western Greece 1. Located in a key strategic position at the center of Greece. Tourism 2. It has highly trained, hard working and multilingual labor. 3. Investments and entrepreneurship is linked and aided with Renewable Energy Sources scientific research and technological development with the support of the local academic and research institutions. 4. It offers a plethora of advanced business services to investors (banking, financial, legal, accounting, technical, advisory etc). ICT and Life Sciences 5. A pioneer in modern telecommunications infrastructure, very important social infrastructure, such as those in health care, and continuously improving basic and transport infrastructure. Food & Beverage 6. It is a center of international interest in the energy sector, given its strategic lilocation, the huge widind and solar resources, as well as possession of local experience and expertise. This interest is expected to grow and expand in the coming years. Waste management 7. The consistent and unwavering support of the local Authorities of the Region, as well as the hospitable and business ‐ friendly people of the island. 11 Tourism 12 Tourism sector in Western Greece: What and Why? Tourism infrastructure Unique competitive advantages • Western Greece is served by 2 airports (Araxos and Aktio) •Long unexplitdloited pritiistine bhbeaches. and there are also plans for the development of Andravida • airport. A Region of unspoilt natural beauty: 11 Ramsar areas and protected areas like Mesolonghi lagoon, Amvrakikos Bay, Kotichi • Western Greece is also served by 6 Ports : Bay, Echinades Islands complex. Patras, Killin i, Kataklkolo, Amfiloc hia, Egio, Messolhilonghi. •Existing infrastructure and undergoing projects will improve There is also an Industrial Port Zone at accessibility: Rio‐Antirrio bridge, two airports, new highways Astakos, Etoloakarnania. connecting the Region with Athens, Epirus, the rest of Peloponnese. Existing road network exceeds 895km • Ski center in Kalavrita. •Patras Port: The main (western) entrance of Greece to Europe. The port can accommodate cargo vessels of up to 25,000 tons and • According to the Hellenic Chamber of Hotels in 2010 in passenger ships up to 16,000 tons and a length of 220m. Its Western Greece there were 278 Hotels with almost 10,000 facilities also include the marina of Patras with 450 berths.
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