Greek Shipping Industry and Its Development

Abstract

The purpose of this article is to present and discuss empirical results for the shipping sector focusing on the shipping industry in Greece and the position of Greek shipping in the international market. The methodology of the study will be based on the collection of secondary data from articles in journals, books and official websites. Conducting such a research consists of locating, studying, analyzing, criticizing and presenting views and data from published texts. Greek-owned shipping holds 16% of world commercial capacity while the percentage of Greek Gross National Product (GDP) to the world is 0.4%, which is 40 times less than the percentage of Greek-owned shipping worldwide. Greece faced the biggest economic crisis since World War II twelve years ago and continues to face it today. At the same time, today Greece is facing a new economic crisis due to the Covid-19 pandemic. At this critical moment, the Greek shipping industry, already having a significant contribution to the Greek GDP, could be a key driver of growth by supporting the Greek economy in liquidity, employment, contribution to GDP and investment. This study was prepared in order to evaluate the economic and social benefits of the Greek shipping industry (cluster).