The Crowdfunding market in Greece has been experiencing significant growth in recent years.
Customer preferences: Greek consumers have shown a growing interest in crowdfunding as a means to support a variety of projects and initiatives. This can be attributed to several factors. Firstly, crowdfunding provides individuals with the opportunity to contribute to causes they believe in and support. It allows them to actively participate in the success of projects and initiatives that align with their values and interests. Secondly, crowdfunding platforms provide a convenient and accessible way for individuals to make financial contributions. With just a few clicks, people can easily donate to projects and campaigns that resonate with them. Lastly, crowdfunding allows for a sense of community and connection. Supporters can engage with project creators and fellow backers, fostering a sense of belonging and shared purpose.
Trends in the market: One of the key trends in the Greek crowdfunding market is the rise of reward-based crowdfunding. This type of crowdfunding allows project creators to offer incentives or rewards to individuals who contribute to their campaigns. These rewards can range from exclusive merchandise to personalized experiences, adding an extra layer of value for backers. This trend has been particularly popular in Greece, as it allows individuals to directly support local businesses and creative endeavors. Another trend in the Greek crowdfunding market is the emergence of equity-based crowdfunding. This type of crowdfunding allows individuals to invest in early-stage businesses in exchange for equity or shares. This trend has gained traction in Greece due to the potential for financial returns and the opportunity to support the growth of local startups and entrepreneurs.
Local special circumstances: Greece's economic challenges in recent years have created a fertile ground for crowdfunding. The country has faced a prolonged period of economic uncertainty and limited access to traditional sources of funding. As a result, entrepreneurs and individuals seeking financial support have turned to crowdfunding as an alternative means of raising capital. Crowdfunding has provided a lifeline for many Greek businesses and projects that may have otherwise struggled to secure funding.
Underlying macroeconomic factors: The Greek economy has been gradually recovering from a deep recession, and this has had a positive impact on the crowdfunding market. As confidence in the economy grows, individuals and businesses are more willing to invest in projects and campaigns. Additionally, the rise of digital platforms and increased internet penetration has made crowdfunding more accessible to a wider audience. This has further fueled the growth of the crowdfunding market in Greece. In conclusion, the Crowdfunding market in Greece has experienced significant growth due to customer preferences for active participation, convenience, and community. Reward-based crowdfunding and equity-based crowdfunding have emerged as popular trends in the market. The economic challenges faced by Greece have created a special circumstance where crowdfunding has become a vital source of funding for many businesses and projects. The recovery of the Greek economy and increased internet penetration have also played a role in the growth of the crowdfunding market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.
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