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    Can Olive Oil Boost Greek Economy?

    Geo Beats

    by Geo Beats

    Learn if olive oil can save Greece.

    No doubt, Greece has been through some tough times lately.

    But there's a bit of positive news relating to bailouts and increased tourism. And its historically weak export outlook may also get a boost.

    The Netherlands’ Rabobank has recently published findings that the global demand for olive oil is on the rise.

    And that's good news for Greece since it's the third largest producer of olive oil in the world.

    Emerging markets including China and Brazil have increased their consumption by 13 percent in the last 6 years.

    The bank’s report notes that China alone sautéed, dipped, and drizzled 45 thousand tons of the oil in 2012.

    Unfortunately, marketing has historically been the Achilles’ heel of Greece’s olive oil industry. They don’t have a globally identifiable brand they can call their own.

    What is made in Greece tends to be of the highest quality available anywhere, but its expensive and offers little in the name of brand recognition.

    It remains to be seen whether Greece can capitalize on the world's growing demand for olive oil.