New studios a step towards putting Greece on global film production map

Greece appears to be gradually increasing and better promoting its global “footprint” in the film industry, with the latest fillip being a planned 30-million-euro studio east of Thessaloniki proper by Millennium Media and the local Vasilika Thermis company.

The latter is linked with the film production company Nu Boyana Hellenic, controlled by Greek businessman John Kalafatis, while Millennium Media, a major independent Hollywood studio, is led by CEO Yariv Lerner.

Another noteworthy investment is a post-production film and television studio at the Helleniko site in coastal southeast Athens, with the billed 50-million-euro investment now awaiting approval by an inter-ministerial committee for strategic investments.

The northern Greece project, in the Thermi municipality, will be reportedly located at a one-time grain warehouse, with a total surface exceeding 11,100 square meters, and with more than 12,000 square meters of outdoor shooting areas. Another post-production facility will be located nearby.

Over the past few years, Greece has attracted a number of international film productions, such as the “The Enforcer” with Antonio Banderas, “The Expendables 4” with Jason Statham and Sylvester Stallone, as well as “Glass Onion: A Knives Out Mystery”, with Daniel Craig.

One major factor behind studios picking Greece for shooting a movie is a cash rebate offered by the state-run National Centre of Audiovisual Media and Communication (EKOME) of 40 percent of eligible expenses.

According to a recent study unveiled by the Athens-based Economic & Industrial Research (IOBE), even 20 low-budget (450,000 euros) productions filmed in Greece every year would translate into an increase of 14.2 million euros for the country’s GDP.

An annual outlay of 25 million euros in the country for film productions would mean an increase in GDP of 39 million euros, and 755 temporary job spots.