why are there so many greek shipping magnates
Greece is a maritime nation by tradition, as shipping is arguably the oldest form of occupation of the Greeks and has been a key element of Greek economic activity since ancient times. Today, shipping is the country's most important industry worth $9 billion in 2015, 4% of the country's GDP. If related businesses are added, the figure jumps to $17 billion or 7.5% of GDP, employs about 192,000 people (4% of the workforce), and shipping receipts are about 1 / 3 of the nation's trade deficit. In 2015, the Greek Merchant Navy controlled the world's largest merchant fleet, in terms of tonnage, with a total DWT of 334,649,089 tons and a fleet of 5,226 Greek-owned vessels, according to Lloyd's List. Greece is also ranked in the top for all kinds of ships, including first for tankers and bulk carriers.