The Greek maritime cluster as a driving force for the economy’s restarting

Abstract

Clusters as a geographical concentration of independent activities have been for a long time recognized as a crucial instrument for promoting industrial development, in-novation, competitiveness and growth. A vast literature and worldwide experience has emerged and is associated with the most dynamic economies. The maritime industries and services compromise of a wide range of sectoral activities producing internationally tradable goods and services in a most competitive world en-vironment. In Greece, the shipping sector traditionally has a sizeable contribution to the Greek economy mainly by its revenues from seaborne transportation services. At the same time, the contribution from the other categories of the maritime cluster in domestic value added is relatively limited. There is a significant scope to benefit from more bal-anced maritime activities, with appropriate policies providing huge business opportu-nities and generating production, value added, employment, direct in the maritime sec-tor and the rest of the economy through multiplied indirect effects. By this paper, we aim to present the economic importance of the Greek maritime cluster to the economy and its related macroeconomic aggregates, as also in the country's ex-ternal balance, competitiveness, economic confidence and stability. We are going to attempt to explore future prospects and appropriate policy instruments in the main field of the Greek maritime cluster, by which the unexploited opportunities can contribute to the country's effort exiting from the current crisis.