Economic growth, which will follow the global recession, caused by the COVID-19 pandemic, is just a matter of time. Some will recover faster, some will need more time, but the major EU economies, as well as the world’s major economies, will come out of the crisis. Obviously, the global economy will change and the post-COVID economy will look like nothing we’ve seen before. Thus, for players of any industry economic analysis made by leading experts, their counseling as to crisis management becomes vital.
The key advice for the market, according to DKG Development Managing Partner Konstantinos Petridis, is to avoid hibernation by all possible means. “It is a very alarming sign, destructive for all players of the industry – sellers, constructors, agents. Such hibernation can only make you downplay your chances, miss real opportunities, that might never emerge again.”
Today, new growth directions emerge, new industries demand new products, new types of investment projects. In these circumstances, the business needs to be proactive – more communications, more contacts. One must scrutinize any professional advice, pay attention to any projects, constantly analyze, and study data. Now, as in times of any crisis really, new interesting possibilities arise. Some shed off assets, and some stock up.
“My advice is to take a neutral position, be open to new things, wait for your unique project, and be there in time to make the investment. It is also important to keep track of the actions and decisions of the government, who, for a short period of time, increase government grants, aids, offer access to easy money. The Greek Government currently offers support to the tourism and property development sectors, but it is quite possible that this support won’t be there for too long. One needs to grab the chance”, says Mr. Petridis.