After weathering a decade-long financial crisis, Greece has re-emerged as a magnet for global wealth and investment and is now a Continent-defying pioneer of economic growth.
Central to this transformation is the country’s ability to attract high-net-worth individuals – particularly through the Golden Visa program – which has positioned Greece as a top destination for millionaire migration.
Introduced in 2013, Greece’s Golden Visa scheme offers residency to non-EU nationals who invest at least €250,000 in real estate. This has opened the door for a diverse range of international investors, driving significant investment and capital into the Greek economy. The economic ripple effect these investments have had has been profound. Meanwhile, the real estate market has had a vital injection of liquidity, with formerly stagnant neighbourhoods experiencing a surge in development, opportunity and local employment.
According to a recent study by Henley & Partners, in 2024 alone, 1,200 millionaires chose to settle and work in Greece. By contrast, countries like the UK are forecasted to lose a record 16,500 millionaires this year – in part due to unfavourable tax reforms to the non-domiciled status. Greece – with its more favourable position for wealthy innovators and now well established political and economic stability provided by the New Democracy government -is a pivotal strategic base for European business.
The broader global context further enhances Greece’s appeal. As countries like Spain close their golden visa program and Italy doubles its flat tax on foreigners to €200,000, Greece offers a rare combination of tax efficiency, residency benefits, and quality of life. Investors – especially from the United States, which accounted for 36% of foreign investment in 2023 – increasingly see Greece as a gateway to the European market, with business-friendly reforms and pro-investor governance under the New Democracy administration.
Greece now has 64,700 millionaires in total, including 105 ultra-high-net-worth individuals with assets over $100 million and eight billionaires. According to Forbes, the number of millionaires in the country has increased by 14% over the past decade, a period which aligns with Greece’s record growth figures and improved investment climate. This is no coincidence.
Under the innovation-friendly leadership of Kyriakos Mitsotakis, Greece has seen its wealth spread, changing the lives and opportunities of families and businesses across the country. Wealthy newcomers have brought industry specific acumen, new business networks, and vital capital. Greece’s startup ecosystem for instance – supported by government initiatives such as Elevate Greece – has blossomed. In 2024, 63,000 new businesses were registered – a 11% increase from the previous year – boosting the economy and job creation. The startup sector has reached a valuation of $8.2 billion, with over $1 billion in annual capital inflows, proving that millionaire migration can catalyse long-term economic growth and opportunity for all.
This is a vote of confidence in Greece, which will only continue to grow. As a lawyer specialising in Foreign Direct Investment and an academic, examining the motivation of investment migration, we are increasingly seeing people move to Greece with intergenerational benefits in mind. This is compounded by recent legislation authorising the establishment of private universities. This will help Greece’s economy in the short term, but more importantly, will help diversify society and enhance the skills of the population, fostering talent within the country.
At a time when geopolitical uncertainty and economic unease are pushing the global elite to seek new opportunities around the world and new locations for investment, Greece stands out. It offers not just a favourable lifestyle, but most importantly, stability, opportunity, and a now well-established economic environment. Millionaires are not merely visitors to our country—they are a key component in Greece’s long-term economic future.
Read more:
Christina Georgaki – Greece as a Magnet for Global Wealth
