S&P Global is the first of the “big three” rating agencies in the world who have upgraded Greece to investment grade. This happened late last week, when Greece’s rating boosted to 'BBB-/A-3.' This is a positive sign for Greece's economy and encourages foreign investment in Greece. Among the reasons why Greece's rating was upgraded is its stronger budgetary position.
A Growing Economy
In S&P’s announcement, they noted that Greece’s public finances have improved thanks to fiscal adjustments. They add that a lot of progress was made since 2015 to address Greece's economic and fiscal imbalances.
Village of Loutra, Kythnos
Greece's Investment Rating
Where is Greece rated among other rating agencies? Two of the largest ratings companies, Fitch and Moody's, rank the country just one notch below investment grade. DBRS Morningstar, another rating agency, was the first to upgrade Greece's rating to investment grade.
More Growth Coming
S&P also notes that it expects "additional structural economic and budgetary reforms, coupled with large EU funds, that will support economic growth in 2023-2026." Greece expects its economic output to increase by 3% in 2024. This year, the economic expansion in Greece was 2.3%, which was more than twice the average in the Eurozone.
Nisyros
Greece’s Finance Minister, Kostis Hatzidakis, spoke positively about the upgrade to Greece’s credit rating: “The country faces a historic window of opportunity through a combination of the right economic policy mixture with political stability.”
Mitsotakis Speaks
Greek Prime Minister Kyriakos Mitsotakis wrote on social media platform “X” that Greece is planning to continue its agenda of “attracting new investment, creating jobs, and achieving inclusive growth.”
Konitsa, Epirus
What This Means for Greece
Mitsotakis also noted that as Greek bonds become more attractive, "borrowing becomes easier and cheaper for businesses and households. At the same time, Mitsotakis noted that “the way is being paved for billions in investment funds to be funneled to the country that could not be directed here for 15 years.”
Greece Repays its Loans Early
In other news, Greece plans to repay its 5.3 billion euro loan early. These loans were given to Greece during the first rescue package, and are due to be paid in 2024 and 2025. However, they will be paid on December 15th of 2023. According to the Ministry of National Economy and Finance, Greece plans to make another early repayment in 2024.
For many people who own, or plan to buy, a home in Greece, the journey is part of the experience. Some fly directly to Athens, Thessaloniki, Heraklion, or Chania. Others prefer slower travel, combining trains, ferries, buses, and regional routes across Europe. Until now, however, planning a cross-border trip by train has often required patience, several booking platforms, and a healthy tolerance for uncertainty. A new proposal from the European Commission aims to make that process much simpler. The plan introduces a more unified system for booking cross-border journeys across Europe, especially train journeys involving more than one operator. The goal is clear: travellers should be able to search, compare, and book a complete journey through one platform, even when different transport companies are involved. For international buyers, second-home owners, and regular visitors to Greece, this could become an important step towards easier, more flexible travel across Europe.
A third Cretan beach, Falassarna, also appears in the global top 20, ranking 11th. Alongside them, Paleokastritsa in Corfu takes 14th place, giving Greece one of the strongest national showings in the ranking. At the very top of the list is Isla Pasión in Mexico, praised for its tropical scenery and distinctive natural shape. But while Mexico may hold first place, Greece clearly dominates the podium, with Crete claiming two of the three highest positions.
Law 5293/2026 introduces a framework that redefines the role of the notary in property transfers in Greece. The notary is designated as a “one-stop shop” for the completion of transactions involving the transfer of property rights. The provisions apply to transfers arising from sale, donation, parental gift, or inheritance.
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