Why this is important to Wisconsin businesses: Outdated systems and natural disasters have resulted in considerable damage.
Greece has a critical need for new infrastructure to deliver its water supply.
Greece has the third-highest rate of water withdrawal—or freshwater taken from ground or surface water sources—among the 38 countries in the Organization for Economic Cooperation and Development (OECD), according to 2021 data. Only Mexico and Australia had higher rates, the OECD says. Outdated water pipelines and pumping stations are to blame for much of the inefficiency in Greece’s water use.
In addition to aging facilities, floods dealt a huge blow to central Greece in September 2023. As much as 36 inches of rain fell in the Thessaly region over the four-day storm, further damaging water facilities.
The European Union’s Recovery and Resilience Facility, designed to help countries recover from the pandemic, has allocated about $543 million for reconstruction of drinking water, wastewater, and irrigation projects in Greece. That could create market opportunities for Wisconsin businesses with sustainable, efficient, high-tech products and services for monitoring pumping stations, water desalination plants, or systems that detect leaks in water pipes.
Greece’s economy has improved since the pandemic, and several international rating agencies now consider Greece to be worthy of investment again. The gross domestic product (GDP) amounted to $242.4 billion in 2023, ranking Greece No. 19 among the 27 EU countries, and the GDP is projected to grow by 2.3% in 2024.
Wisconsin is a global leader in water technology, and companies in the industry may find opportunities to share their knowledge in Greece.
