A new economic impact study by international consultancy Olsberg•SPI (SPI) examines the contribution of Greece’s audiovisual production sector to the national economy, with a particular focus on the country’s cash rebate incentive scheme. Presented at the Greek Ministry of Culture and the Hellenic Film & Audiovisual Center (EΚKOMEΔ), the report analyses the economic, employment and industry effects of this programme between 2018 and 2025.

Covering the period from 2018 to 2025, the study reveals that Greece’s cash rebate generated a return on investment (ROI) of 4.2 during the period examined, with every €1 of public funding producing €4.2 in gross value added (GVA). Overall, the programme contributed €928.7 million in GVA to the Greek economy and supported an average of 2,900 full-time equivalent (FTE) jobs per year. The findings position audiovisual production among the most productive sectors of the Greek economy.

The analysis is based on data supplied by EΚKOMEΔ, as well as interviews with a broad range of stakeholders, including policymakers and representatives from the local and international audiovisual industry. Conducted between April and October 2025, the study reviewed more than 400 projects that were either funded or approved under the cash rebate scheme. Between 2018 and 2025, approximately 291 national and international projects benefited from the incentive, while €205.4 million were disbursed through the programme from 2019 onwards. The methodology and findings were reviewed by the Foundation for Economic & Industrial Research (IOBE).

One of the report’s key conclusions is the role of the cash rebate as a catalyst for attracting international productions to Greece, while simultaneously strengthening the domestic production ecosystem. Beyond its direct economic impact, the scheme has contributed to technological upskilling, infrastructure development and the international visibility of Greece as both a production destination and a cultural brand.

Commenting on the findings, Minister of Culture Lina Mendoni stated that “the Olsberg•SPI study demonstrates in a clear manner and with strong documentation that audiovisual production constitutes a dynamic development sector. In the case of the audiovisual sector, it is proven that Culture is directly linked to the economy… Overall, public investments in Culture yield higher returns than other sectors, such as tourism.”

The report also addresses the importance of policy stability, concluding that the long-term continuity of the incentive scheme will be crucial for maintaining investor confidence and enabling further growth. It suggests that Greece is well placed to expand the scale and scope of its production services, provided that the programme remains stable over time.

EΚKOMEΔ CEO Leonidas Christopoulos described the sector as one of the country’s most efficient productive fields, noting that “the results of the study leave no room for doubt. The audiovisual creative sector is one of the most productive sectors of the Greek economy. As EΚKOMEΔ, we are organising this momentum, investing in the new generation of creators and building a modern ecosystem that can place the country on the international creative map.”

In addition to confirming the positive impact of the cash rebate, the study outlines a series of recommendations for further development. These include the continued and stable public funding of the scheme, simplification and acceleration of application procedures, investment in production infrastructure, support for national production, and targeted investment in skills development and professional training.

According to Leon Forde, CEO of Olsberg•SPI, “the study highlights that the Greek audiovisual production sector has shown remarkable growth, having received a significant boost from the cash rebate programme in recent years. By ensuring stability and long-term commitment, and with the appropriate support from all stakeholders, Greece has the potential to further develop into a leading production hub, to the benefit of both the national production sector and the country’s economy.”