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Announcement of Updated McKinsey Report on Greece’s Economic Development

In a landmark event on December 12 held at ACG’s Plaka building, Dr. Michalis Psalidopoulos, Chief Consultant of the Institute for Hellenic Growth and Prosperity (IHGP) and Chair of the Advisory Board, unveiled the much-anticipated update to the McKinsey report originally published in 2012. Titled “The Greek Economy: Looking Back and Charting the Way Forward,” the report serves as a comprehensive analysis of Greece’s economic landscape and recommendations for the future.

The 2012 McKinsey report laid the groundwork for Greece’s economic growth during the government debt crisis, outlining key sectors and macroeconomic drivers for development. Over the past decade, the Greek economy has seen significant changes, responding to challenges such as the financial crisis, the COVID-19 pandemic, geopolitical events, and technological advancements. The updated report explores the evolution of the Greek economy from 2012 to 2022, assessing the impact of the McKinsey recommendations and subsequent economic developments. It also integrates insights from other influential reports, including the 2017 McKinsey update, the 2020 Pissarides Commission’s report, and the Greek Government’s 2021 National Recovery and Resilience Plan (RRP).

In response to the dynamic economic environment, the IHGP puts forward a set of strategic recommendations. These include a steadfast commitment to embracing the Digital Revolution through support for startups, comprehensive government administrative reforms, the implementation of e-justice programs, targeted human resource training, and a significant overhaul of the education system to equip students with skills relevant to the Digital Revolution. ACG is urged to establish a new Center of Excellence in Digital Transformation, Artificial Intelligence, and Computer Sciences. Additionally, the college is encouraged to enrich its private sector outreach and curriculum by fostering a startup network in collaboration with partners at Demokritos and the Athena Research Center.

To delve into the comprehensive report and gain in-depth knowledge, download it here.