The Greek film and TV incentive programme contributed €928.7m in GVA (Gross Value Added) to the country’s economy between 2018-2025, according to a new study by the international consulting company Olsberg SPI presented to Greece’s Ministry of Culture and the Hellenic Film and Audiovisual Centre (EKKOMED).
According to the study’s findings, the Greek Cash Rebate produced an economic return on investment (ROI) of €4.2m meaning that every €1 of public investment in the cash rebate generated €4.2 of net GVA.
Greece offers a 40% Cash Rebate to national and international productions, with a cap of €8m per project.
Major films shot in Greece during this time include Christopher Nolan’s “The Odyssey”, Ruben Östlund’s “The Triangle Of Sadness,” Molly Manning Walker’s “How To Have Sex” and Rian Johnson’s “Glass Onion: A Knives Out Mystery”.
“The results of the study leave no room for doubt,” said Leonidas Christopoulos, CEO of EKKOMED. “The audiovisual creative sector is one of the most efficient productive sectors in Greece. As EKKOMED, we are organising this dynamic, investing in the new generation of creators and building a modern ecosystem that can place the country on the international creative map.”
Read more at the Press Release.
Read the complete study: The Economic Impact of Greece’s Film and Television Production Incentive and Roadmap for Future Growth.