Greek daily news

Greek Daily News 29/01/2024

355 views

ECONOMY

-The Foundation for Economic & Industrial Research (IOBE) in its quarterly report (4/2023) published last week predicts a growth of 2.4% in real terms in 2024 in Greece and an unemployment rate of around 10.5%.

-An annual survey conducted by the Institute of Economic and Industrial Research (IME-GSEVEE) reveals that six out of ten (60.7%) Greek households found their monthly income sufficient to cover their basic needs for only 19 days of the month.

-Private sector deposits in Greece were up by 6.376 euros last month, according to figures released by the Bank of Greece (BoG). Deposits held by businesses increased by 3.292 billion euros while deposits held by households grew by 3.084 billion euros.

SHIPPING

The Greek Flag is included among the top performers in the 2023/24 Shipping Industry Flag State Performance Table, according the International Chamber of Shipping (ICS), a world trade association representing national shipowners’ associations from Asia, Africa, the Americas and Europe and more than 80% of the world’s merchant fleet.

REAL ESTATE

-Greek residential real estate prices have increased significantly across the board of indicators since its trough in 2017, exceeding 50 percent in nominal terms and 35 percent in real terms and not yet visibly decelerating, the International Monetary Fund (IMF) observed in its Article IV Consultation report on Greece, warning that the real estate market appears to have entered “bubble” territory.

-More than half of the properties up for sale in Halkidiki go to foreign buyers, with Bulgarians being first on the list of investors in the area, followed by Serbs, George Tsigaras co-owner of Halkidiki Properties told a press conference on Jan.23.

TOURISM

The number of tourist overnight stays in Greece increased by 63% in 2013-2023, in sharp contrast with other Southern European countries, an ING Group analysis citing Eurostat data showed. Spain, Italy, and France recorded increases of 24%, 13%, and 11%, respectively, since 2013.

-Air Arabia will expand its European network by adding direct flights to Greece this summer. As of June 28, the first and largest low-cost airline in the Middle East and North Africa (MENA) region, will inaugurate a direct flight between Athens and Sharjah in the United Arab Emirates (UAE), four times a week.