The technology sector could add between 12-23 billion euros to the Greek economy by 2035, boosting the country’s much-needed productivity index and narrowing the gap with the EU.
The “magic lever” to achieve this lies in digital investment and its evolution in relation to productivity over the decade to 2035, with software playing a central role. A key factor for success is the use of technology and its integration into the production process.
Two scenarios
According to a recent report by analysts at the National Bank of Greece, “a tripling of software investment could close one quarter of the productivity gap with Europe.” They further noted that “productivity is linked both to the overall level of digital assets and to their composition, with the share of software playing a decisive role.”
They outlined two scenarios for the evolution of digital investment and its impact on productivity over the next decade:
Conservative scenario: If digital investment maintains its current pace, productivity could increase by around 30% by 2035, narrowing part of the gap with the EU (from 55% to 47%) and adding approximately 12 billion euros to the Greek economy compared to the current digitalisation trend.
Ambitious scenario: If digital investment accelerates by 40%, aiming to converge with the EU in terms of capital stock, the productivity gap could narrow to 41%, adding 23 billion euros to the economy by 2035. This target is considered realistic (reflecting investment…
