Alexander Pardalis, CFO
The logistics and warehousing sector in Greece has experienced steady growth in recent years, driven by increasing demand from e-commerce and international trade. This trend is expected to continue in 2023, with an estimated growth rate of 5% compared to the previous year. The sector’s growth is expected to be driven by increased demand for logistics and warehousing services, increased investment in infrastructure and technology, and favorable government policies.
The logistics and warehousing sector in Greece comprises companies involved in the storage, transportation, and distribution of goods. The sector is a critical component of the country’s economy, contributing approximately 6% to the country’s GDP. The sector has been growing steadily in recent years, with a growth rate of 3% in 2021, driven by increasing demand from e-commerce and international trade.
The COVID-19 pandemic has accelerated the growth of e-commerce, leading to increased demand for logistics and warehousing services. The sector has also benefited from Greece’s strategic location, which makes it an ideal hub for international trade between Europe, Asia, and Africa.
The logistics and warehousing sector in Greece is expected to see several key trends in 2023. Firstly, there is a growing demand for last-mile delivery services, as more consumers are shopping online and expecting faster and more convenient delivery options. Therefore, logistics companies are expected to invest more in last-mile delivery solutions, including drones, robots, and other innovative technologies.
Secondly, there is an increasing focus on sustainability and environmentally-friendly logistics practices. Many companies are looking to reduce their carbon footprint by optimizing their supply chain and adopting more eco-friendly transportation methods. Therefore, logistics and warehousing companies are expected to invest more in green technologies and practices.
Thirdly, the pandemic has accelerated the adoption of digital technologies in the sector. Many logistics and warehousing companies are using digital platforms to optimize their operations, track shipments, and improve the overall customer experience. Therefore, companies are expected to invest more in technology and innovation to remain competitive.
Despite the positive outlook for the logistics and warehousing sector in Greece, there are several challenges that the sector may face in 2023. Firstly, the ongoing COVID-19 pandemic continues to pose a threat to the sector’s growth, particularly in the event of new waves and restrictions on trade. The sector must remain responsive to the changing situation to ensure the safety of staff and customers.
Secondly, the sector is also facing competition from other countries in the region, such as Turkey and Bulgaria, which offer similar logistics and warehousing services. These countries have invested heavily in infrastructure and technology and are likely to attract a significant number of international clients. Therefore, the logistics and warehousing sector in Greece must continue to innovate and offer unique and attractive services to remain competitive.
Overall, the logistics and warehousing sector in Greece is expected to experience steady growth in 2023, driven by increased demand from e-commerce and international trade. However, the sector must remain responsive to the changing situation and address the challenges posed by the ongoing pandemic and competition from other countries. By adopting innovative and sustainable practices, investing in technology, and offering unique and attractive services, the sector can continue to grow and contribute to the Greek economy’s overall growth.The Greek Hospitality Sector has shown significant signs of recovery in 2021, with the gradual lifting of COVID-19 restrictions and the increased vaccination rates among the population. This positive trend is expected to continue in 2022-2023, with an estimated growth rate of 20% in the sector’s revenue compared to the previous year. The sector’s recovery is expected to be driven by the resumption of international travel, increased domestic tourism, and a higher demand for luxury accommodation options.