Greece’s film and television production incentive program contributed €928.7 million in GVA (gross value added) to the country’s economy between 2018 and 2025, according to a new study by Olsberg SPI submitted to the Greek Ministry of Culture and the Hellenic Film and Audiovisual Center (Ekcomed).
According to our findings, Greece’s cash rebates generated an economic return on investment (ROI) of 4.2. This means that every €1 of public investment in cash rebates generated €4.2 in net GVA.
The study concludes that this incentive is an important catalyst for attracting international productions and, on average, leads to full-time equivalent (FTE) job creation.
Greece offers a 40% cash rebate on domestic and foreign productions up to €8 million per project. Movies scheduled to be shot in Greece include those directed by Christopher Nolan. odysseyby Ruben Ostlund love triangle of sadnessMolly Manning Walkers how to have sex and rian johnson Glass Onion: Knives Out Mystery.
“There is no doubt about the study results,” said Leonidas Christopoulos, CEO of Eccomed. “The audiovisual creative sector is one of the most efficient production sectors in Greece. As Ekcomed, we are organizing this dynamic, investing in a new generation of creators and building a modern ecosystem that can put this country on the international creative map.”
Simplified, faster, more stable
This incentive has faced challenges in recent years, with the government suspending cash rebates in May 2024 to address outstanding payments. The incentive was restarted in February 2025 with a total annual funding of €105 million.
Against this background, the Olsberg SPI study highlighted the importance of stabilizing incentives. Among its proposals is “continued and stable financing of long-term cash rebates by the government to strengthen confidence in the Greek market by investors in production and sector infrastructure.”
The study also says applications for cash rebates should be simplified and faster, and calls for the program to be more competitive internationally.
The study also highlights the need to strengthen Greece’s productive sector through investments in infrastructure, human resources, skills development and vocational training programmes.
Approximately 291 domestic and international projects have been paid through the cash rebate program since it began accepting applications in 2018, and approximately €205.4 million has been disbursed through the program since 2019.
The study was conducted from April to October 2025, based on data collected by Eckomed and interviews with policy makers and representatives of the Greek and international film and television production sectors. SPI collaborated with the Institute for Economic and Industrial Research (IOBE), which peer-reviewed SPI’s methodology and results.
This work was commissioned by Oxbury AMKE, a Greek non-profit organization founded by Christos V. Konstantakopoulos that supports the creative and economic development of the Greek audiovisual sector.
“The Olsberg SPI study clearly shows and provides strong evidence that audiovisual production is a dynamic and growing sector, and in this case proves that culture is directly linked to the economy,” said Greek Minister of Culture Lina Mendoni. “A similar study on the impact of investments in the cultural heritage sector shows that 1 euro of public investment generates 3.44 euros of added value. This shows that, overall, public investment in culture brings higher returns than other sectors such as tourism. Greece has proven in recent years that it can host and support high-demand international productions, while at the same time stimulating the domestic service market and promoting employment.”
Leon Forde, CEO of Olsberg SPI, said: “This study shows that Greece’s film and television production sector has made impressive progress, with a significant boost from the cash rebate program in recent years.” “By ensuring stability and long-term commitment, and with adequate support from all stakeholders, Greece has the potential to further develop as a major production hub, benefiting both the country’s productive sector and the country’s economy.”
SPI has previously analyzed incentive programs in a variety of countries, including Spain, the United Kingdom, Ireland, Australia, New Zealand, and several states in the United States.
(Tag Translation) Europe
