The audiovisual production sector in Greece is emerging as a significant economic and strategic growth driver, according to a study conducted by the international consultancy SPI and presented to the Ministry of Culture and EKKOMED.

The study highlights the decisive role of Greece’s audiovisual incentive program—the cash rebate—in boosting the national economy, generating revenues of €1 billion. Between 2018 and 2025, the program achieved a remarkable return on investment (ROI), creating substantial added value and thousands of jobs.

The study, carried out from April to October 2025, reports that:

• Every €1 of public investment in the cash rebate program generated €4.2 in gross value added (GVA).
• An average of 2,900 full-time equivalent (FTE) jobs were created annually.
• The total economic benefit to the Greek economy reached €928.7 million in GVA.
• The cash rebate has acted as a key catalyst for attracting international producers.

Data were collected from the National Centre for Creative Content (NCCC) and interviews with policymakers, local and international industry representatives. SPI partnered with the Foundation for Economic & Industrial Research (IOBE), which reviewed the methodology and results.

SPI, a leading consultancy with extensive international experience, has conducted similar studies in countries including Spain, the UK, Ireland, Australia, New Zealand, and several U.S. states. The study was commissioned by Oxbelly AMKE, a Greek non-profit organization founded by Christos V. Constantakopoulos to support the creative and economic development of the Greek audiovisual industry.

Key Findings

The study confirms that the film and television production industry:

• Is a strategic sector with significant economic impact for Greece.
• Enhances innovation and technological specialization.
• Attracts substantial international investment.
• Promotes Greece’s brand internationally, both as a country and as a tourist destination.

Since 2018, around 291 national and international projects have been supported through the cash rebate program, with approximately €205.4 million paid out since 2019. SPI analyzed data from over 400 projects approved or funded through the program, demonstrating that the cash rebate has substantially strengthened Greece’s audiovisual production sector and created a strong foundation for further growth.

The study emphasizes that Greece has the opportunity to expand its production services by offering a comprehensive package, contingent on the long-term stability of the incentive program.

Recommendations for Further Development

To ensure continued growth, the study recommends:

• Continued and stable funding of the cash rebate to enhance investor confidence.
• Simplification and acceleration of integration procedures to strengthen international competitiveness.
• Investment in production infrastructure and the development of national production capacity.
• Support for human resource development, skills, and vocational training programs.

The economic impacts presented include direct, indirect, and induced effects. The 2018–2025 period does not fully reflect 2025 activity, so the total impact for this year may be higher.

Official Statements

Culture Minister Lina Mendoni:
“The SPI-Olsberg study clearly demonstrates that audiovisual production is a potential growth sector. It shows that culture and economy are directly linked. Similar research in the cultural heritage sector has shown that €1 of public investment generates €3.44 in added value. Greece has proven it can host and support complex international productions while activating domestic services and boosting employment.”

Deputy Minister of Culture Iason Fotilas:
“This study confirms the government’s strategic investments in the film and audiovisual sector. The Ministry of Culture and EKKOMED are prepared to advance to the next level, creating an integrated creative and developmental ecosystem for cinema and audiovisual production.”

Leonidas Christopoulos, CEO of EKKOMED:
“The results are clear: the audiovisual creative sector is one of the most productive in Greece. EKKOMED organizes and invests in the next generation of creators, building a modern ecosystem to place Greece on the international creative map.”

Leon Forde, CEO of Olsberg-SPI:
“The Greek audiovisual sector has grown remarkably, driven by the cash rebate program. With stability, long-term commitment, and proper support, Greece can further develop into a leading production hub, benefiting both the national sector and the wider economy.”