International Business

It is difficult to trace the origins of international business (IB) activity in Greece. Fragmentation of research, lack of documented and centrally stored evidence and practical limitations do not allow us to understand exactly the ‘when’ and ‘how’ of the origins of IB activity in the country. The fact is that international trade has been an essential component of the lives of Greek people since ancient times and it has been responsible for the spread of Greek civilization to the rest of the known world. This tradition is still evident today and its greatest manifestation is in the role of Greek shipping as the main facilitator of international trade flows. Greeks are involved in international marine logistics and international trade throughout the world but it should be emphasized that the main commercial activity is trade and not industrial production. This complements the overall identity of the Greek economy as a former agricultural and increasingly service-oriented economy showing increasing signs of de-industrialization in recent decades. More specifically, it is interesting to note at this stage that more than 90 per cent of world trade is conducted by sea while the Greek-owned fleet represents almost one-fifth of world tonnage (MARISEC, 2010). It is easy to see, therefore, that international business has always been at the forefront of economic and social activity in the country.