Greece is not a fully capitalist state as there are still many state-owned industries, but the government plans to sell many of them. Greece receives a great amount of financial assistance from the European Union, which accounts for about 4 percent of its GDP. Greece's main
|Country||Newspapers||Radios||TV Sets a||Cable subscribers a||Mobile Phones a||Fax Machines a||Personal Computers a||Internet Hosts b||Internet Users b|
|a Data are from International Telecommunication Union, World Telecommunication Development Report 1999 and are per 1,000 people.|
|b Data are from the Internet Software Consortium ( http://www.isc.org ) and are per 10,000 people.|
|SOURCE: World Bank. World Development Indicators 2000.|
Greece's chief sector of the economy—services—is comprised of transportation, tourism, communications, trade, banking, public administration, and defense. The service sector is the fastest-growing and largest part of the Greek economy, accounting for 64.4 percent of GDP in 1998. Tourism is the foundation of this sector. However, a poorly developed infrastructure has slowed its expansion. In 1996, more than 10 million tourists visited
The industrial sector accounts for 27.3 percent of Greece's GDP. One of the fastest growing and most profitable industries in this sector is the food industry, which has excellent export potential. High technology equipment production, especially for telecommunications, is also a fast-growing sector. Textiles, building materials, machinery, transport equipment, and electrical appliances are also a significant part of the manufacturing sector. Shipping is another industry that has shown economic promise. A nation with a great nautical tradition, Greece has built an impressive shipping industry based on its prime geographic location and the entrepreneurial skills of its owners.