Greek News 23/09/2024

ECONOMY

-Greek authorities conducted 9.059 labor inspections on hospitality companies between May and August 2024, issuing 8.11 million euros in fines, Kathimerini reported.

-The Overall Turnover Index in Industry (both Domestic and Non-Domestic Market) in July 2024 recorded an increase of 11.7% compared with the corresponding index of July 2023, the Hellenic Statistical Authority (ELSTAT) data showed.

-One in ten of Greece’s poor can’t cover health-related costs, according to the OECD ‘Health at a Glance 2023: OECD Indicators’.

-The current accounts trade deficit recorded an increase amounting to €8.6 billion over the first 7 months of 2024, the Bank of Greece (BoG) data showed.

-Registered unemployment in Greece totaled nearly 844,000 persons last month, down 6% on an annual basis, according to the Public Employment Service (DYPA).

BUSINESS

-The value of the Greek business software market is estimated at 400 million euros, and it is expected to double over the next 5 years, reaching 1 billion euros, Naftemporiki reported citing sector representatives.

-The index of business expectations in industry dropped in August to 99.4 points (from 101.4 points in July), according to a survey by the Institute for Economic and Industrial Research Foundation (IOBE).

-Greece is set to introduce the Startup Visa, allowing investors to gain residency by making a minimum investment of €250,000 in innovative startups based in Greece.

TOURISM

-In the first 8 months of this year, nearly 5 million travelers passed through Rhodes Airport, up 14.4% on an annual basis, data released by Fraport Greece revealed.

-The issue of hypertourism and the promotion of new destinations will dominate the 8th Posidonia Sea Tourism Forum to be held in May 2025, in Heraklion, Crete.

-Athens is included among the top ten premier autumn destinations for North American travelers, according to booking data by the American Automobile Association (AAA).