Greek daily news

Greek Daily News 27/02/2024

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ECONOMY

-The effects of the decade-long economic crisis and austerity measures still burden Greek households, the 2023 annual Greek Trade Report reveals. Between 2008 and 2022, total monthly expenditure plummeted by roughly 24.4%.

-Greeks are ranked among the most financially illiterate in the EU, according to a new study by the European Commission. Only one in two individuals in the European Union, on average, is financially knowledgeable. In response to a 2023 survey containing five questions assessing basic financial knowledge, only half of the respondents answered at least three of the five questions correctly.

TOURISM

-Greece is emerging as the protagonist of the cruise sector in the Eastern Mediterranean for 2024, as the war climate in the Middle East seems to favor the port of Piraeus and Greek destinations such as Santorini and Mykonos, where demand has increased by approximately 50% compared to 2023, Naftemporiki reported.

-Germany, England, and France remain the major protagonists in foreign visitor arrivals to Greece in 2024, AMNA reported citing various foreign tour operators and reports.

-Hotels in Greece, particularly those up to the three-star category, and totaling more than 200,000 rooms, have faced challenges in upgrading their quality due to limited access to credit, according to the Hellenic Chamber of Hoteliers President Yiannis Hatzis. He also told the inaugural regional conference of the Hellenic Chamber of Hoteliers held in Karpenisi, central Greece that the Hotel chamber wants stricter guidelines for rival AirBnB-style short-term rentals.

GENERAL

Commuters will face a difficult day in the Greek capital on Wednesday (Feb. 28) as Greece’s Confederation of Civil Servants’ Union (ADEDY) has declared a 24-hour nationwide strike which will mostly affect mass transit in the greater Athens area. The strikes are expected to affect buses, trains, taxis, the Athens metro and also flights, due to strike action by air-traffic controllers.