Greece leverages film productions to boost tourism and economy

A new study by IOBE confirms that international film productions are acting as significant catalysts for tourism in Greece. By utilizing a cash rebate system, the Greek Film Centre is attracting investments that convert cinematic exposure into long-term economic benefits for regions such as the Peloponnese and Skopelos.

Since 2019, 188 international productions and minority co-productions have been approved through the cash rebate system. The Greek Film Centre has allocated approximately 270 million euros for these actions, while direct private spending in the Greek market is estimated to reach 480 million euros.

The economic impact extends beyond the audiovisual industry, benefiting sectors such as hotels, restaurants, transport, and construction. According to an Olsberg SPI study, between 55% and 75% of spending flows into non-audiovisual sectors. The cash rebate system is noted for its high efficiency, yielding 4.20 euros of additional value for every one euro of public support.