Country Analysis Greece

In: Other Topics

Submitted By gpapatzimas
Words 1853
Pages 8
Country Analysis - Greece

Bordering the Aegean Sea, Ionian Sea and the Mediterranean Sea in southern

Europe,Greece is a country of mostly mountains with ranges extending into the sea as

peninsulas or chains of islands. From wet winters, to hot and dry summers, greece is a

popular tourist destination.

With nearly 4.5 million people in the Athens area, Greece is populated with nearly

10 million people in which a parliamentary democracy exists. 300 people are elected

whom form the parliament which conducts the legislative duties of the government.The

political party collects approximately 151 seats in the parliamental duties of the

administration. The president automatically becomes prime minster and then gets

appointed to become cabinet ministers. The actual ‘president’ is elected by the

parliament for a five year term. The current ‘chief of state’ is President Karolos

Papoulias and the head of government is Prime Minister Antonis Samaras.

As you are aware, Greece’s economy isn’t doing too well lately. Greece has a

capitalist economy which means it has an economic system based on private ownership

of capital. 40 percent of the countries GDP is accounted from a public sector. Tourism

provides fifteen percent, in which we will discuss later. Between 2003 and 2007 the

economy grew nearly four percent per year. This is partially due to the 2004 Olympic

games which also resulted in an increased availability of credit. However, with the 2009

recession due to the world financial crisis, Athens’ credit conditions tightened. Greece

violated the EU’s Growth and Stability Pact which says no more than three percent of

GDP, in which Greece was at six percent in 2011. The economy of Greece kept going

downhill. By April 2010, the credit agencies assigned Greece to be in the lowest


Similar Documents

Cultural Analysis on the Country of Mexico

...Cultural Analysis The marketer needs basic information to evaluate a country market’s potential, identify problems that would eliminate a country from further consideration, identify aspects of a country’s environment for possible adaptation, and develop a strategic market approach. One further use of the information collected in the preliminary analysis (cultural analysis) is as a basis for country notebook. A country notebook includes a Cultural Analysis, Economic Analysis, Market Audit and Competitive Market Analysis. The data suggested in the cultural analysis includes information that helps the marketer make market-planning decisions. However, its application extends beyond product and market analysis to being an important source of information for someone interested in understanding business customs and other important cultural features of the country. The information in this analysis must be more than a collection of facts. You need to interpret the meaning of cultural information. That is, how does the information help in understanding the effect on the market? For example, the fact that almost all the populations of Italy and Mexico are Catholic is an interesting statistic but not nearly as useful as understanding the effect of Catholicism on values, beliefs, and other aspects of market behavior. Furthermore, even though both countries are predominantly Catholic, the influence of their individual and unique interpretation and practice of Catholicism can result in......

Words: 609 - Pages: 3

How to Do Country Analysis?

...Country analysis involves the examination and interpretation of a nation’s economic, social and political environment. The analysis offers a comprehensive overview of a country Objectives To identify the common factors used by MNCs to measure a country’s political risk and financial risk; To explain the techniques used to measure country risk; and To explain how MNCs use the assessment of country risk when making financial decisions Country analysis is useful for: * Investors in the financial market * Companies intending to set up a subsidiary * Companies wishing to enter a new market * People wishing to reside in the country Factors Considered in a Country Analysis A country analysis is often conducted through country reports researched by professional government or independent firms, such as the Economist Intelligence Unit, World Bank and Organization for Economic Cooperation and Development (OECD). Some of the data points considered in a country analysis are: Economic Indicators: Indicators such as gross domestic product (GDP), consumer price index (CPI), inflation rate and producer price index (PPI) help in gauging a country’s economic health. High GDP growth, low inflation and high CPI are favorable for companies and investors. These indicators also reflect job availability and standard of living in the country. Government Policy: Governments often introduce policies and programs to promote the growth of certain industries. Favorable......

Words: 9826 - Pages: 40

Ethiopia: Country Analysis

...Contents 1. Introduction to Ethiopia’s Economy 3 Agriculture effect on economy 4 2. Ethiopian Economy Facts 9 3. GDP Projection 14 Analysis of various factors 17 Inflation 17 Interest Rates 17 Exports and Imports 18 Trend Analysis 18 4. Conclusion 19 5. References 20 1. Introduction to Ethiopia’s Economy Ethiopian economy is mainly based on agriculture sector, which accounts for 46% of the GDP and 85% of the total employment. Coffee has been a major crop which also mainly contributes to Ethiopia’s exports to the other countries. Ineffective cultivation practices and inadequate rainfall are the major deterrents to the agricultural sector. But recent joint efforts by the Ethiopia Government and aid agencies are helping to upgrade the traditional agricultural practices. This has significantly contribution to the reduction in number of Ethiopians suffering from starvation. The sectors of banking which comprises Insurance and Micro-credit industries are not open to foreign investors, though Ethiopia had huge inflows of investment in other commercial agricultural sectors like leather and textile. The graph shows Ethiopian economy’s sector-wise performance from the year 2004 to 2010. The agricultural sector has seen constant decline from 65% to 30% chiefly due to minimal rainfall. Soil is not fertile for the harvesting, so the crops were not growing properly. In industry sector emerging as it can be seen from growth up to 60% in 2010 as compare to...

Words: 2646 - Pages: 11

Ib Country Analysis

...Country Analysis MEXICO Aga Wyporska 100853121 Executive Summary: Mexico is located in North America with a population total of 113,423,000 people (University Michigan State 1994 - 2012). It borders 3 countries: Guatemala, Belize and the world economic super power, the United States of America. It has the second greatest economy in Latin America and is a major exporter and refiner of oil. Mexico is currently experiencing growth in its economic factors such as GDP, labor productivity and its exports of goods and services; however, due to the current political instability and the extremely high amount of drug trafficking and the associated violence, it is not recommended to proceed. A lack of an ability to implement laws leads to a lack of solid property rights and enforcement of contracts, which ultimately leads to a loss of business. Country’s Macro Environment: Some of Mexico’s most critical industries include agriculture, which is in the decline (3.9% of GDP in 2006 down from 7% in 1980) and electronics, which is experiencing an upsurge (Central Intelligence Agency 2012). Furthermore Mexico is the 6th largest oil producer in the world and so has a strong performance in the energy and mineral resource industry. Lastly Mexico is involved heavily in services such as tourism (it is the 8th most visited country in the world) and finance (World Tourism Organization 2012). Mexico is the second largest supplier of electronic parts to the US market (exported $71.4 billion...

Words: 1911 - Pages: 8

Country Risk and Strategic Analysis

...Running head: COUNTRY RISK AND STRATEGIC PLANNING ANALYSIS PAPER Country Risk and Strategic Planning Analysis Pa University of Phoenix Global Business Strategies MGT/445 January 11. 2009 Country Risk and Strategic Planning Analysis Paper The following paper analyzes the risks associated with starting a global business venture in the Philippines. The business is the manufacture and sale of FOY, an anti-aging supplement that will revolutionize the health and beauty industry. A strategic planning outline will be included to manage risks, clarify the organization’s objectives, and implement the successful introduction of this product to the global market. The Philippines have laws that require all foreign organizations to open an office in a domestic subsidiary, in a foreign representative office, or in a foreign branch office. A business license from the Philippines, registration of the business, who is part of different government agencies, and certification of incorporation, are also requirements for starting a business in the Philippines (Culangen, 2009). Projects and businesses in the Philippines are at risk of closure due to the high percentage of corruption, this, in turn, forces political parties to reduce the improvement and growth of infrastructures. The political issue of corruption has prevented the Philippines from gaining investors from other countries (Political and Risk Consultancy LTD., 2008). The low rate analysis of the......

Words: 1008 - Pages: 5

Country-Market Environmental Analysis

...COUNTRY-MARKET ENVIRONMENTAL ANALYSIS By Name Tatyana Ruchkina (Iup201121) I choose Russian Market as my analysis objective. Because I wonder why they hold so strong economic and can be leading positions in many areas. So I will collect data to find some answers in this paper. 1) Culture Russia is a multinational state. In the Russian Federation than the Russians who make up more than 80 percent of the population live about 180 other Nations. Historically dominated by Russian culture, based on the Russian language, however some role in the development of Russian culture, play and culture relatively large regional peoples of Russia, such as the Tatars, Bashkirs, Kalmyks and others. 2) Demographic The population of Russia is  146 100 000 people. According to the 2002 year, ethnic Russians make up 80% of the total population, while six other ethnicities have a population exceeding 1 million - Tatars (3.8%),  Ukrainians (2%),  Bashkir (1.1%),  Chuvash (1.1%), Chechens (0.9%) and Armenians (0.8%). In total, 160 different ethnic groups and indigenous peoples live within the Russian federation's borders. 3) Social Social factors are also very important to international business. For a international cooperation, they should do some adjustments in the local markets. There are many factors in the social categories, such as social value, attitudes toward success and ethic issues and so on. 4) Economic Russia belongs to the category of agro-industrial countries. . The......

Words: 544 - Pages: 3

International Entry and Country Analysis

...INTERNATIONAL ENTRY AND COUNTRY ANALYSIS A Lecture Programme delivered at the Technical University of Košice Andrew Harrison Formerly of Teesside University, United Kingdom December 20112 Andrew Harrison’s Brief Biography Andrew Harrison was a Principal Lecturer and Subject Group Leader in economics at Teesside University until August 2010 and has been a visiting lecturer at the Technical University of Košice since April 1993. He has also been a visiting lecturer in Germany, Ukraine and Singapore. Since leaving the full-time staff of Teesside University, he has continued to work as an occasional lecturer and as an external examiner at two other UK universities. He holds qualifications from London, Salford and Leeds Universities and Trinity College of Music, London. In April 2008, he was awarded the degree of Doctor Honoris Causa by the Technical University of Košice. He is married to Heather and has two grown-up children, David and Rachel. In his spare time he is a keen amateur pianist and organist. Brief Course Description International business activity is one of the key features of the contemporary global economy. The decision to venture abroad involves the evaluation of alternative entry modes, bearing in mind the degree of risk and the suitability of the business environment in a potential host country or region. Political, economic, cultural and other factors are all of vital importance. This short course aims to explore these issues in the light of current research and...

Words: 15285 - Pages: 62

Country Analysis a large and greatly densely populated country with figures, which have been estimated by the World Factbook (2014), either beaten or are approaching the 166 million mark depends on which source you want to rely on. Based on BBC New Asia (2014), Bangladesh count as the 94th largest country in the world with a surface area of 143,998 square kilometres (55,598 square miles). World Population Review (2011) added that, Bangladesh density figures shows as for every square kilometre of land in Bangladesh there is an average of 964.42 people which makes the country the 9th largest in the world in terms of density alone. Moreover, the World Factbook (2014) stated that, Bangladesh is mostly located on deltas of rivers flowing from the Himalayas crossing the country into the Bay of Bengal. (Source: BBC 2014) According to the World Factbook (2014), 98% of the population are Bengalis and the lasting 2% are from Bihari’s and other ethnic tribes. Also, it shows that Muslims count as 89.5%, Hindus as 9.6% and other beliefs as 0.9% of the total population of Bangladesh. 2.2 The Political System Cavusgil et al (2014, p.202), outlined the political system as ‘’A set of formal institutions that constitute a government. It includes legislative bodies, political parties, lobbying groups, and trade unions. The system also defines how these groups interact with each other’’ First of all, the country official name is People’s Republic of......

Words: 1690 - Pages: 7

Country Analysis: Russia

...Country Analysis: Russia MBA Fall 2015 International Management in Sport and Entertainment Table of Contents Country Analysis: Russia 1 Introduction 1 Economic Environment 1 Political and Legal Environment 2 Culture 2 Conclusion 6 Country Analysis: Russia Introduction Russia is the world’s largest nation, covering 6,5 million square miles, with a population of 143 million people recorded in 2014. Russia borders European and Asian countries as well as the Pacific and Arctic oceans. In order to make a decision, concerning the market expansion of an organization into Russia, the economic environment as well as the political and legal environment will be analyzed with a focus on the cultural aspects. Economic Environment Russia is one of the BRICS countries (Brazil, Russia, India, China and South Africa), which are projected to be the fastest growing emerging economies, with a combined GDP of $16 trillion. With a GDP of $2.6 trillion, Russia is a leading exporter of natural gas and oil and is the fifth largest economy in the world. Services are the largest sector of the economy and accounts for 58 percent of the GDP. The most important segments in services include wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods. This represents 17 percent of total GDP; public administration, health and education (12 percent); real estate (9 percent) and transport storage and communications (7 percent). Industry......

Words: 1926 - Pages: 8

Country Risk Analysis Venezuela

...Exercise country analysis and country risk Venezuela Hypump, a US company producing hydraulic pumps used in oil producing industry, likes to investigate the possibility of starting a new subsidiary in Venezuela, and asked you to make a country analysis and country risk report. The facts, key indicators and back ground information of Venezuela you found after research are presented in the Appendix. Use that information to answer the following questions: Moderate poverty and inequality have decreased from 1998 onwards due to the program called ‘Missiones’ according to the World bank (see appendix). 1. Use the fact sheet Venezuela whether this can be confirmed with figures. Assess: a. Level of development b. Income inequality 2. Assess Venezuela’s export structure. What is it based on? Use GDP and expenditure components for Q 3 and Q4 to assess Venezuela’s attractiveness from the table: 3. How can you see 2014 and 2015 are forecasts? 4. Characterize the phase of business cycle Venezuela has faced in 2013 and 2014 (Explain which key indicator(s) are used to answer the question) 5. Make a ‘first level analysis’ of the aggregate components of GDP to explain the economic (GDP) growth during 2013. 6. Explain the influence of imports on GDP in 2013. 7. Make a ‘second level’ analysis of the aggregate components of GDP to find some reason(s) for the movement of the various components. ‘The......

Words: 2111 - Pages: 9

Country Risk Analysis

...Country Risk Analysis Germany By: Matthew Duby 103805300 Brett Benson 103682527 Due: Monday, March 30th Addressed to: Dr. Gunay Table of Contents Introduction……………………………………………………………………………………3-4 Supporting Information How does Germany’s bond yields compare with other countries?………………….................4-5 What is the rating of Germany’s government bonds?…………………………………………5 What are Germany’s interest rates (short, intermediate, long-term)…………………………..6 Who are Germany’s top 3 trading partners? Are they the same for imports and exports?........6-7 What is Germany’s current account balance? Has it been a surplus in the past few years?......7 Why might Germany be running a surplus?...............................................................................7 Are their top three trading partners running a current account surplus or deficit?....................8 What is Germany’s population, GDP, unemployment, money supply growth and inflation rates?......8 Do you think interest rates in Germany are going to increase or decrease? Why?....................9 Do the trends have a positive or negative outlook?...................................................................9 Do you expect Germany’s exchange rate to appreciate or depreciate against the USD?..........10 Conclusion With the acquired information, would you invest in Germany’s T-bills?..................................10 Was your hypothesis confirmed? What did you learn?...........................

Words: 2689 - Pages: 11

Peru Chile Country Analysis

...Taylor Covert (3/9/16)- ISP Country Analysis Report I. Country Introduction: Chile v. Peru Extending 2,880 miles down the western coast of South America, between the Pacific Ocean and the Andes mountains, is the remarkably slender country known as Chile. Due to its large geographical scale, encompassing 38 degrees in latitude, Chile has a range of climatic zones, from the arid Atacama Dessert in the north to the subtropical regions in the south. These diverse climates and topographies provide Chile with a wealth of natural resources including timber, iron ore, hydropower and most prominently, copper, an element known for its inherent ductility and electrical conductivity. Beginning in the mid 1960s, concurrent with China’s exploding GDP growth rate, the value of copper in the modern industrial market place began to soar due increased global demand. Chile, whose copper reserves account for 28% of the world’s total supply, experienced the positive economic impact from this increased demand, as seen through the country’s GDP growth of over 400% between 1970 and 2014, adjusting for inflation, (Appendix 1). Coupled with the solid GDP growth over the last 45 years, Chile was also able to establish strong institutions, an efficient government with relatively low levels of corruption, and solid macroeconomic stability, which subsequently established Chile as the most competitive economy in Latin America according the 2015 Global Competitiveness Report (GCR) (Appendix 2).......

Words: 2514 - Pages: 11

Country Analysis

...Country Analysis Venezuela Culture Venezuela's Uncertainty Avoidance (UAI) of 76 is slightly below other Latin Countries average of 80, indicating the society’s low level of tolerance for uncertainty (Geert Hostede). In an effort to minimize or reduce this level of uncertainty, strict rules, laws, policies, and regulations are adopted and implemented. The ultimate goal of this population is to control everything in order to eliminate or avoid the unexpected (Geert Hostede). As a result of this high UAI, the society does not readily accept change and is very risk adverse. Next, Venezuela has the highest Masculinity (MAS) ranking among the Latin Countries at 73 compared to 48. The high masculinity means the male dominates a significant portion of the society and power structure. Venezuela has a very low Individualism (IDV) ranking at 12, compared to other Latin countries averaged at 21 (Geert Hostede). The country is more collectivist which is manifested by long-term relationships, loyalty is very crucial in a collectivist society. Below are Hofstede’s charts so you can see the comparisons between Venezuela and other Latin American Countries. [pic] [pic] The Political Environment Venezuela’s structure of government is similar to the United States. Venezuela is a federal republic, with a president as the head of both the state and the government. This form of government has been in place since 1999 and Hugo Chavez has been the president since then. Under...

Words: 1108 - Pages: 5

Country Risk Analysis - Turkey

...Turkey Investment Risk Analysis Introduction Today Turkey is preserved as one of the countries that offer a solid ground for foreign investment. According to the Republic of Turkey Prime Ministry Investment Support and Promotion Agency [PMISPA] (2015), the inflow of Foreign Direct Investment [FDI] has reached 12.5 BUSD in 2014 and the amount of countries with foreign capital is constantly growing. While the biggest Turkey’s assets are mainly related to soil and population, a set of political reforms targeted to support the investment, the close possibility to join the EU contribute largely to growing interest of foreign investors. On the other hand, doing business in Turkey requires deeper understanding of local culture, people and their approach to business and life values in general. When making a business decision on whether to invest to Turkey, mainly economic, political and cultural factors shall be taken into consideration. Strategic location Turkey with an area of 784 mil km2 (Central Intelligence Agency [CIA], 2013) can boast about its geographical location of high strategic importance. The country is located on the crossroads of 3 continents and has borders with 8 countries, which opens unique business opportunities in Europe, Asia, the Middle East, the North Africa, Russia and CIC. In addition to that, the attractive Turkish coastlines have made Turkey the 6th most popular touristic destination in the world (PMISPA, 2015), which is one of the advantages......

Words: 2338 - Pages: 10

Country Risk Analysis

...Country Risk Analysis: John D. Young MGT 448 January 16, 2010 Stephen Thomas Country Risk Analysis When entering any market, analyzing the business risks is an important process. Many sources of risk exist and responsible organization will examine every possible source in preparation for managing a variety of issues. These risk types include political, legal, and regulatory risk, exchange and repatriation of funds risk, competitive risk, taxation and double taxation risk, market risk, distribution and supply chain risk, physical and environmental risk, social and cultural risk, and cyber-risk or technological risk. Political, Legal, and Regulatory Risks Politically, China faces some stability issues. China has a Communist government. In many cases, this regime has led to stability that has helped the country reach the more recent levels of economic improvement, despite some notable discontent among its people (Cai & Li, 2009). However, since reaching a more prosperous economy China has been at odds with itself. Balancing its communistic central government with capitalistic economic centers has been unsuccessful. Additionally, the development of the nation has led to a large disparity between the classes with some rural regions looking as they did decades ago whereas urban centers rival New York and Tokyo in excess (AMBest Co Inc., 2011). This generates a lack of trust in smaller regional centers and towns that threatens to create instability in China (Ke...

Words: 2144 - Pages: 9