Philip Morris International to contribute €343 billion to EU economy

A study conducted by EY-Parthenon reveals that Philip Morris International (PMI) will contribute approximately 343 billion euros to the European Union economy during the 2021-2025 period.

The economic impact includes 22.3 billion euros in spending with European suppliers, 27.4 billion euros in investments in European operations, and 39.5 billion euros in exports. The company's European supply chain is expected to support roughly 164,000 jobs by 2025, including 22,500 direct positions. Research and development investments total 422 million euros across Europe, in addition to approximately 2.2 billion euros allocated to R&D in Switzerland.

Specific regional impacts were highlighted, including Italy's role as a major production and export hub for heated tobacco products. In Greece, the Papasstratos plant has seen over 700 million euros in investment since 2017, transitioning to a facility dedicated exclusively to smoke-free products, with approximately 87% of its production destined for export markets.