McKinsey just published a study titled Greece 10 Years Ahead: Defining Greece’s New Growth Model and Strategy. As its title would suggest, the report aims to lay out a new growth plan for the financially beleaguered country.
Among other things, McKinsey picked out eight ‘rising star’ industries that could help drive growth in the near. From the report:
Greece 10 Years Ahead also identifies eight ‘rising stars’ in the economy (six primary and two secondary ones), which, though they are not yet sizeable, nonetheless offer the possibility of significant future growth. These ‘rising stars’ include manufacturing of generic pharmaceuticals, aquaculture, medical tourism elderly care, regional cargo hub development, waste management, specialised food categories, and development of graduate classical educational programs. They were selected among a long-list of more than 20 candidate subsectors, based on the relative intrinsic capabilities of Greece (e.g., in terms of primary resources, know-how, infrastructure, proximity to key markets) and the dynamics of supply and demand internationally (e.g., in terms of size and growth, labour versus knowledge intensity, local versus regional versus global reach) (Exhibit 34).