The characteristic of the Greeks which migrate to the four countries we study is the systematic and organized form the migration took in the course of the 18th century and particularly in the second half. The Greek colonies of France and Britain flourished in the 19th century. If we exclude the cases of the movement of scholars and members of aristocratic Byzantine families in the first years of Turkish rule as well as the small and temporary settlements of merchants and army men during the previous centuries, it is only in the 18th and 19th century that the Greek migrants settle permanently in these countries and relate their interests to those of their place of settlement.

In this second phase, the period from the 17th century onward, the Greek diaspora must be seen through the various factors that influenced its course. During the 18th century the international economy entered a development phase; the development rate of capitalism in western Europe raised. As a result, the commercial transactions between western Europe and the Ottoman Empire increased too. The merchants especially of Britain, France and the Netherlands became strongly interested in agricultural products of the Ottoman East which they used as raw materials in their manufactures.

This interest in raw materials led to the systematic settlement of many European merchants in the big Ottoman ports. Consequently, they took over a great part of the external trade of the Ottoman Empire. This trading procedure often demanded the assistance of Greek Ottoman subjects (for interpreting, guiding, offering agent services). These Greeks were brought under the protection of the foreign powers and gained great profit. They learnt the new trading techniques, expanded the field of their financial activities, became familiar with new organization models of businesses and with the creation of commercial centres in a foreign environment.

The Greek merchants took advantage of the extension of the big estate system which reinforced the intense cultivation of a single plant - of the most profitable trading products, e.g. cotton-. They also benefited from the decline of trade in the eastern regions of the Ottoman Empire and from the economic and political power the Phanariots had acquired in the administration. But the factor that really gave an impetus to the Greek commercial enterprises was the successful exploitation of the competition between the European powers. The constant conflicts between the European powers (the War for the Austrian Succession, the Seven Years' War, etc.) had disastrous effects mostly for the French but also for the Dutch merchants. Thus, the French and Dutch merchants withdrew from their trading centres in the East and were supplanted by the Greeks. The Greeks took advantage of the neutral position of the Ottoman Empire toward the belligerent parties and dominated over the eastern mediterranean basin. They acquired such economic power that it enabled them to expand their activities more systematically in western Europe where they began to found more and more new branches.

As a result, after the middle of the 18th century, the former employees of the foreign commercial houses became independent and operated as autonomous wholesale dealers of abroad. However, apart from the former apprentices there are also different producers of rural centres who reach the big commercial cities of the Ottoman Empire by selling their products and expand their businesses on credit of the foreign merchants or by adopting their model. The exportation constituted a significant trade outlet for the new advanced businesses in comparison to the restricted and divided character of the local market. The foundation of branches in foreign countries and the migration of the Greek merchants constituted an economic action that aimed at the more effective control of the foreign markets and credit.

In addition, many times, certain traits of the Ottoman system caused problems to the new Greek mercantile class. For example, the corporate organization impeded free economy, while the monetary anarchy, the arbitrary and irrational taxation, the administrative instability, the insecurity the Ottoman avidity of the administrative employees inspired in people which had property, etc., were obstacles for the new Greek mercantile class. All these factors often constituted one more motive for the transfer and investment of funds outside the Ottoman Empire.

Thus, powerful commercial networks with branches all over the Mediterranean were created after the middle of the 18th century.