Data centers expected to benefit Greece, but economists warn of energy and environmental costs
Six in ten economists surveyed by the Greek Economists Panel believe that the development and operation of data centers will have an overall positive impact on Greece's economy and society, while raising concerns about energy consumption, environmental pressures and the investments' actual added value.
A total of 61% of the 18 economists who responded to the October survey of the Greek Economists Panel, an initiative of the Centre for Liberal Studies (KEFiM), believe that the development of data centers in Greece will have a positive overall economic and social impact. Meanwhile, 6% disagree, while 33% hold a position between the two options.
The expansion of data centers is a key component of the Greek government's strategy to establish the country as a regional hub for digital infrastructure and services.
In March 2026, the government presented a dedicated site-selection study that identified investment interest exceeding 1 gigawatt (GW), with more than 35 requests for connections to the electricity grid.
More recently, a bill was submitted to Parliament proposing several measures for new data center developments. These include requiring at least 60% of their annual electricity consumption to be covered by renewable energy sources, making investors responsible for connection costs, and introducing compensatory fees to benefit the areas hosting the facilities.
ECONOMIC OPPORTUNITIES AND JOB CREATION
In their comments, participating economists acknowledged that data center investments could strengthen Greece's international competitiveness, improve its digital infrastructure and support technological development. They also highlighted the potential creation of specialized employment opportunities.
However, respondents stressed that there is insufficient empirical evidence to determine the actual domestic added value generated by these investments, their long-term impact on productivity, and their overall social and environmental costs.
ENERGY AND ENVIRONMENTAL CONCERNS
Particular concerns were raised over the substantial electricity requirements of data centers, their cooling needs and their consumption of natural resources.
Economists emphasized the importance of an appropriate regulatory framework, improved energy efficiency and safeguards to ensure that the costs of expanding infrastructure do not disproportionately affect other electricity consumers.
QUESTIONS OVER INVESTMENT FUNDING
The survey also highlighted concerns about how data center investments are financed. According to participating economists, the sector's expansion can be beneficial when driven by genuine market demand and private investment.
By contrast, they expressed reservations about projects motivated primarily by the availability of European subsidies rather than actual economic demand.
The Greek Economists Panel is an initiative of the Centre for Liberal Studies (KEFiM) that seeks to document the views of leading Greek economists on key economic policy issues. It brings together 75 economists from 59 universities and institutions based in 11 countries.
Further information, including participants' responses to monthly surveys and their explanatory comments, is available on KEFiM's website.
