[Yiannis Liakos/InTime News]
Greece is banking on the establishment of private universities to drive economic growth, reduce academic migration and create tens of thousands of jobs, according to a study by Deloitte.
The new non-state universities, expected to begin operating in the 2025-2026 academic year, could generate €6.8 billion for the economy over five years, including €1.2 billion in state revenue and 45,000 new jobs.
Twelve applications have already been submitted. The move aims to curb the exodus of Greek students abroad – currently around 40,500 – by offering more academic options at home.
Only one in three Greek students currently get into their top-choice university program.
Beyond the financial boost, officials say the plan could help reverse brain drain. Nearly half of Greek PhD holders abroad are open to returning, and private universities could serve as a “gateway” back.
The institutions are also expected to enhance research output, support Greece’s innovation agenda and attract international students – an estimated 16,400 over five years – some of whom may stay post-graduation, further boosting the domestic economy.