The Greece and Portugal surety market size was valued at US$ 105.86 million in 2024 and is expected to reach US$ 142.93 million by 2031; it is estimated to register a CAGR of 4.3% during 2025–2031. The rise in digitalization, automation, and other technological advancements is likely to remain a key Greece and Portugal surety market trend.
Infrastructure development, including transportation, energy, and utilities, drives the demand for surety bonds. Public infrastructure projects often require surety bonds to guarantee completion and adherence to contractual obligations. Surety bonds may be mandated by government agencies or private entities financing infrastructure projects to mitigate risks associated with project delays, cost overruns, and performance issues. Also, with the increasing need for restructuring the aging infrastructure of developed countries and the requirement for new infrastructural development in emerging economies, public-private partnerships (PPP) opportunities are expected to drive the Greece & Portugal surety market growth.
Under the terms of a construction or engineering contract or in compliance with mandatory legal requirements, bonds and guarantees are typically needed to secure the obligations of the principal debtor (sometimes referred to as the principal) against the beneficiary. They provide assurances for fulfilling a wide range of duties, including commercial ventures, licenses, and construction or service contracts. A surety bond can be used to secure almost any kind of transaction, service, or compliance agreement. Surety companies issue bonds that guarantee the performance of a party (usually a contractor) in a contract. If a contractor is unable to fulfill their obligations, the surety company steps in and financially compensates the project owner.
The increasing adoption of public-private partnerships (PPPs) across Southern Europe has played a pivotal role in driving the growth of the surety market, particularly in Portugal and Greece. As governments in both countries prioritize large-scale infrastructure projects to enhance connectivity and economic development, the use of PPP models has expanded significantly. This has led to a growing demand for surety bonds, such as performance and bid bonds, as essential financial instruments to secure the execution of complex construction and transport initiatives. In Portugal, significant undertakings such as the Porto–Lisbon High-Speed Line are prime examples of how PPP frameworks create substantial opportunities for the surety market. In 2023, Carlos Fernandes, Vice-Chairman of Infraestruturas de Portugal (IP), announced the launch of a public-private partnership (PPP) procedure for the Porto–Soure rail section—part of the first phase of the Porto–Lisbon High-Speed Line (HSL)—scheduled for January 2024. Similarly, in April 2022, the EBRD partnered with the Ministry of Development and Investments of Greece to launch a new Public-Private Partnership (PPP) preparation facility following a formal request from the Greek authorities. Funded by the Greek government, this facility has since supported multiple projects across the country, primarily in the areas of social infrastructure (including education, healthcare, and public buildings), sustainable urban development, and water resources management. This project is set to become the cornerstone of a broader urban regeneration plan for the municipality of Daphne-Hymettus, where the new ministerial campus will be located. These significant infrastructure investments in Portugal and Greece, particularly those involving PPP frameworks, have contributed to the surety market growth in Southern Europe, particularly in Portugal and Greece, by increasing the demand for performance and bid bonds to support large-scale public infrastructure projects.
As stated by Investment Visa in February 2025, Portugal's real estate sector has proven to be one of the most robust in Europe, demonstrating strong resilience in the face of global economic uncertainties. Over the past decade, the country has increasingly attracted international investors, with real estate becoming a key investment channel. The combination of a growing expatriate community—now making up 10% of the population—and a flourishing tourism industry has driven significant demand for residential and commercial properties. This steady influx of foreign capital and continued development activity signal a strong pipeline of real estate projects requiring financial and contractual guarantees. Meanwhile, Greece has witnessed a rise in property investments, particularly from Indian investors, motivated by impending amendments to the country's highly sought-after Golden Visa Programme. In just two months—July and August 2024—property acquisitions by Indian nationals jumped by 37%, as buyers moved quickly to lock in permanent residency under the existing investment threshold of € 250,000 (US$ 270,357.4) before it increases to € 800,000 (US$ 865,143.6) in premium markets such as Athens, Mykonos, and Santorini. Therefore, the rapid growth in real estate investment in Portugal and Greece is expected to present a significant opportunity for the surety market growth. As foreign investors increasingly engage in high-value property transactions—many involving government incentives such as residency programs—the need for financial guarantees, performance bonds, and contractual surety instruments becomes more prominent.
Key segments that contributed to the derivation of the Greece and Portugal Surety Market analysis are bond type and end user.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 105.86 Million |
| Market Size by 2031 | US$ 142.93 Million |
| Global CAGR (2025 - 2031) | 4.3% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Bond Type
|
| Regions and Countries Covered | Greece
|
| Market leaders and key company profiles |
The Greece and Portugal surety market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Greece and Portugal surety market are listed below:
The "Greece and Portugal Surety Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
The List of Companies - Greece and Portugal Surety Market
The Greece and Portugal surety market was valued at US$ 105.86 million.
Increase in adoption of public-private partnerships for infrastructure development and rise in EU funding and public projects are the driving factors impacting the Greece and Portugal surety market.
Rise in digitalization, automation, and other technological advancements is the future trends of the Greece and Portugal surety market.
The key players, holding majority shares, in Greece and Portugal surety market includes Zurich Insurance Group AG, Generali Group, The Groupama Group, Allianz SE, Chubb Ltd., and MAPFRE SA.
The Greece and Portugal surety market is expected to reach US$ 142.93 million in the year 2031.