Wednesday, December 3, 2014

A study on the contribution of the film industry to the Greek economy, titled “The Film Industry in Greece: Economic Impact,” was presented yesterday by the Foundation for Economic and Industrial Research (IOBE).

The study analyses the obstacles to foreign film production in Greece quantifies the potential economic benefits from removing these obstacles.
  • Main Findings
According to the findings, the overall impact of the Greek film industry on state revenue totals €3 million per year, whereas only one major foreign film production could maintain 755 work positions and infuse €39 million to the Greek economy.

The study also underlines the positive impact of foreign film productions on Greek tourism, estimating that films like Captain Corelli's Mandolin, shot on the island of Cephallonia, and Lara Croft: Tomb Raider, shot partly in Santorini, have led to 14% and 12% increase in tourist arrivals respectively.

The study argues that setting – up film commissions – i.e. non-profit, public organizations that attract motion media production crews (including movies, TV and commercials) to shoot on location in their respective localities, and offer support so that productions can accomplish their work smoothly – would help lift bureaucratic barriers and enable foreign investment in the film industry.

See also: Greek News Agenda: Welcome to…Greecewood & Welcome to…Greecewood II & Film "Before Midnight" @ Oscars