||(OCR non controlé) General terms of reference for the project and conclusions reached by other consultants point out that Greece offers good opportunities to develop aquaculture to the level of a socially and economically significant industry. Aquaculture development is stated to contribute to Government aims such as food security, preservation of foreign exchange, social and economic development of remote rural areas and contribution to the gross national product by rational use of water resources.The assessment of the contribution of a new industry to the national economy, as is the case for the aquaculture industry, is difficult to make in quantitative terms. There is a lack of historical records and figures on costs and benefits covering the first years of operation of aquaculture production units. Therefore only limited analysis is possible. Figures available from feasibility studies and projections have been shown to be misleading in the field of aquaculture in other countries. The over-optimistic projections based on such figures, as much as the lack of technical experience, are to be blamed for the delay of aquaculture development in many countries. The failure to achieve projected aquaculture production figures has often depressed the first enthusiasm of investors and banks.For these reasons, and to avoid the problem of obtaining realistic figures, the consultant preferred to conduct a qualitative analysis, using figures only for an illustrative purpose. The analysis was based on a description of the present aquaculture situation in Greece. The main aim of this analysis was to point out the basic requirements necessary for a coordinated and rapid development of aquaculture in its different components.The conditions of financing of aquaculture in Greece will be analysed, followed by a short economic review of the main components of Greek aquaculture. At each step conclusions should lead to recommendations to overcome the constraints of aquaculture development, thereby strengthening its potential as a profitable industry.