2. PESTEL Analysis
• PESTEL is an acronym that stands for Political,
Economical, Social, Technological, Environmental
and Legal.
• It is used to describe an analysis that is used for
determining the opportunities and risks of global
expansion.
• A strong framework used by global and multinational
corporations to set the stage to develop specific
tactics to mitigate the risks involved in executing
their vision in unfamiliar environments.
4. Greece
• Capital: Athens
• Official Language: Greek
• Independence : Ottoman and Roman Empire
• Area :131,990 km (96th)
• Population:11,305,118 (74th)
• Currency: Drachma(2,650 yr old) and replaced
with the Euro in 2002.
• Official name : The Hellenic Republic(Ellas or
Ellada).
5. Political Environment
• President : Karolos Papoulias (Party: Pasok) Since 12-
Mar-2005.
• Prime Minister : Lucas Papademos (Independent)
Since 11-Nov-2011.
• Finance Minister : Evangelos Venizelo (Party:
Panhellenic Socialist Movement) Since 17 June 2011
• 1977 – 2011 Greece was ruled alternatively by New
Democracy and PASOK being the two major political
parties.
6. Economical Environment
• GDP
• (Total): $318.082 billion (37th)
• (Per capita):$27,624 (29th)
• HDI: 0.861 (2011, 29th)
• GDP Composition (2009)
6. Agriculture: 3.4%
7. Industry: 20.7%
8. Services: 76%
• EXPORTS (22.45 b€ ) : goods, fruit, vegetables, olive oil, textiles, steel,
aluminium, cement, and clothing, refined petroleum and petroleum-based
products.
• Main export partners: Germany, Italy, United Kingdom, and United States.
• IMPORTS (43.5 b€ ) : Iindustrial and capital goods, foodstuffs, and petroleum.
• Main import partners are European Union members (Germany, Italy, France,
Netherlands, UK), Russia and China.
7. Social Environment
• Ethnic Groups : Greek (94%),Albanian(4%) &
Others (2%).
• Official Languages : Major Greek.
• Foreign languages learned : English, French,
Spanish, Italian and German.
• Orthodox Church of Greece (97%).
8. Technological Environment
Thessaloniki Science Centre and Technology
Museum
• R&D 456.37 million Euros.
• PC Sales (electronics
retailers Saturn, Electro
World, FNAC, and Media
Market, 2009).
• European Space
Agency(ESA) since 2005.
• Telecommunication.
9. Environment
• Climate : Mediterranean (Mild, wet winters and hot,
dry summers).
• Pindus Mountain range strongly affects the climate
of the country, as areas to the west of the range are
considerably wetter on average (due to greater
exposure to south-westerly systems bringing in
moisture) than the areas lying to the east of the
range (due to a rain shadow effect).
• Snowfalls : Mountainous areas of NW Greece (parts
of Epirus, Central Greece, Thessaly, Western
Macedonia etc).
10. Legal Environment
• Constitution : 11-June-1975 (Third Hellenic
Republic).
• Legal System : European laws and influenced by
German and French law.
• Areios Pagos :Supreme Civil and Criminal Court.
• European Law
• Civil Law
• Business and Partnership Laws.