Money Buzz! Europa

Category: Athens

  • Greece: Turnover down by 59% in food service sector in Q2 2020

    Greece: Turnover down by 59% in food service sector in Q2 2020

    For the total of enterprises in Food and Beverage Service Activities in Greece, the turnover in the second quarter 2020 amounted to 592.729.473 euro.

    This is a decrease of 59.0% in comparison with the second quarter 2019, when the respective turnover was 1.446.782.662 euro.

    The largest decrease in the turnover of the second quarter 2020 compared to the second quarter of 2019 was recorded in the Regional Unit Thira (95.6%) while the respective smallest decrease (33.3%) was recorded in the Regional Unit Grevena.

    For the enterprises in Food and Beverage Service Activities obliged to double-entry bookkeeping, for which data are available on a monthly basis, the turnover in August 2020 amounted to 124.306.749 euro, recording a decrease of 33.6% in comparison with August 2019, when the respective turnover was 187.304.387 euro.

    Data was gathered by The Hellenic Statistical Authority.

  • A new border fence between Greece and Turkey will be erected by April 2021

    A new border fence between Greece and Turkey will be erected by April 2021

    A new border fence between Greece and Turkey will be erected by April next year to discourage migrants, Greek Prime Minister Kyriakos Mitsotakis’s office said on Saturday, as AFP and dpa reported.

    Mitsotakis, who visited the Evros region of northeastern Greece to inspect the status of the project, said the fence would be built in the Ferres area along the Evros River.

    “The prime minister has promised to visit the region again by April, when the project is due to be completed,” government sources in Athens said.

    Greek authorities are recruiting another 400 border guards to be deployed in the Evros region and are considering consolidating an existing 11-kilometer-long border barrier in the Kastanies-Kapikule crossing.

    The construction of a 26-kilometer fence in the Evros region was announced after migrants attempts to enter were encouraged by Turkey in February and March this year.

    Greece has managed to stop most illegal migrant crossings, while the European Union has sent an additional number of representatives of the European Borders and Coast Guard to the area.

  • Greek enterprises turnover decreased by 25.1% in Q2 2020

    Greek enterprises turnover decreased by 25.1% in Q2 2020

    The turnover of all Greek enterprises in the second quarter 2020 amounted to 58.987.931 thousand euro, recording a decrease of 25.1% in comparison with the second quarter 2019, when the respective turnover was 78.800.256 thousand euro.

    The enterprises of the section Accommodation and Food Service Activities, and the enterprises of the section Arts, Entertainment and Recreation, recorded the largest decrease in turnover, 78.8% and 53.2% respectively, in the second quarter of 2020 compared with the second quarter of 2019.

    The smallest decrease in turnover, between the second quarter of 2020 and the second quarter of 2019, was recorded from the enterprises of section Public Administration and Defense; Compulsory Social Security (0.5%) and of section Agriculture, Forestry and Fishing (3.4%).

    Data was gathered by The Hellenic Statistical Authority.

  • Over 80% less visitors for Greek museums and archaeological sites this year

    Over 80% less visitors for Greek museums and archaeological sites this year

    During the six-month period from January to June 2020 compared to the corresponding period of 2019, a decrease of 80.1% was observed in the number of visitors of museums, while a decrease of 78.2% was recorded in the number of free admission visitors and an 86.7% decrease in the relevant receipts.

    The operation of museums had been suspended from March 14th until June 15 th 2020.

    As regards archaeological sites, during the six-month period from January to June 2020 compared to the corresponding period of 2019, a decrease of 85.3% was recorded in the number of visitors, while an 83.2% decrease was observed in the number of free admission visitors and a 90.3% decrease in the relevant receipts.

    The operation of archaeological sites had been suspended from March 14th to May 17th 2020.

  • Greece to sell Hellenic Shipyards, its largest shipyard

    Greece to sell Hellenic Shipyards, its largest shipyard

    Greece started on Friday the bidding process for the sale of Hellenic Shipyards, the country’s largest shipyard, the Greek Finance Ministry announced.

    The activity of the military division of Hellenic Shipyards, which is based in Skaramangas, near Athens, is to be reviewed.

    The US-based International Development Finance Corporation, along with a Greek company, have expressed interest in the Skaramangas shipyard, Athens authorities said.

    Analysts estimate that Greece will get only a small share of the estimated revenues from privatizations in 2020 because the crisis caused by the coronavirus pandemic (COVID-19) has forced authorities to postpone planned asset sales to avoid low bids.

    Athens authorities expect to get between 350 and 400 million euros, the head of the privatization agency, Aris Xenofos, told Reuters, well below the initial target of 2.4 billion euros.

    Greece’s Gross Domestic Product fell by 14% between April and June 2020, the worst quarterly contraction in 25 years.

  • The average annual household expenditure in Greece decreased by 30.3% since 2008

    The average annual household expenditure in Greece decreased by 30.3% since 2008

    The average yearly household expenditure in 2019 in Greece amounted to 17,738.64 euro (1,478.22 per month), recording an increase of 2.5%, in comparison to 2018.

    The average yearly expenditure per person in 2019, amounted to 6,942.84 €, recording an increase of 2.5% (168.84 €), in comparison to 2018.

    Half of households spent more than 1,151 euro per month and households living in a rented dwelling spent 17.7% of their total monthly consumption expenditure on rent.

    Food and non-alcoholic beverages accounts for the relatively larger share of expenditure (20.0%) followed by the categories housing (14.0%) and transport (13.4%), whereas education services represent the smallest share of expenditure (3.3%).

    20% of households with the lowest expenditure spent 54.9% of their budget on expenditure related to Food and Housing, whereas 20% of households with the highest expenditure spent 24.6% of their budget on this type of expenditure.

    The highest average yearly expenditure was recorded in the Region of Notio Aigaio and amounted to 20,093.04 euros and the lowest in the Region of Kentriki Ellada at 12,933.24 euros.

    The average annual household expenditure decreased by 30.3%, compared to the year 2008.

  • Aegean net losses after tax at €158.8m in the first half of 2020

    Aegean net losses after tax at €158.8m in the first half of 2020

    Aegean total number of flights operated fell by 82% in the second quarter (with a reduction of 95% and 92% for the months of April and May respectively), while passenger traffic fell 92%.

    Revenue for the second quarter stood at just €40.4m, 88% down compared to the second quarter of 2019, i.e. a decline in revenue of €307m.

    Pre-tax losses (excluding extraordinary) stood at €58.7m against pretax profit of €31.5m in the respective 2019 period. 

    As a result, overall first half 2020 revenue fell by 64% to €187.4m while underlying pre-tax losses stood at €132.3m.

    The results were burdened by extraordinary losses of €68.5m from ineffective hedging, mainly due to the large portion of fuel hedging contracts for the duration of 2020 being rendered ineffective by the significant reduction in flight activity.

    Net losses after tax stood at €158.8m in the first half compared to losses of €13m in the respective period last year.

  • 7.000 new jobs in the Greek food retail trade this year

    7.000 new jobs in the Greek food retail trade this year

    Employment grew by 3.2% in the Greek food retail trade in the first half of 2020. There were registered 7.000 new jobs in 2020 and the total number of workers in the food retail trade reached 215.000.

    In 2020, based on a six months data, a significant effect of the pandemic is recorded.

    In particular, in relation to the food retail trade, there was an increase of 3.2% in the first half of 2020 compared to the first half of 2019, while the rest of the retail trade recorded a decrease of -0.4% in the first half of 2020 compared to the same half of 2019.

    In the period 2000-2020 the food retail trade shows an increase in employment of 50.5%, as opposed to the rest of the retail trade which shows a decrease of -8.5%.

    Data was gathered by The Institute for Consumer Goods Retail Research (IEKKA).

  • Lidl to invest 350 million euros by 2023 in Greece

    Lidl to invest 350 million euros by 2023 in Greece

    Lidl plans to invest 350 million euros in Greece by 2023 and the opening of 11 new stores, over half of them in Athens.

    Lidl will open two new stores in Athens by February, another four stores in 2021 and five in 2022 and to build a new logistics center.

    Lidl launched a loyalty program

    The company launched the Lidl Plus loyalty program for purchases in all 225 stores on its network, offering registered users attractive offers on favorite products.

    At the same time, it enables the customer to monitor transactions at any time and the amount they save through online in-app purchase copies and provides access to Lidl’s digital brochures.

    Lidl Plus operates exclusively on smartphones (Android & iOS).

  • Unemployment rate in Greece at 18.3% for June 2020

    Unemployment rate in Greece at 18.3% for June 2020

    The unemployment rate in Greece in June 2020 was 18.3% compared to the downward revised 17.1% in June 2019 and to the upward revised 17.3% in May 2020.

    The number of employed in June 2020 amounted to 3.744.630 persons. The number of unemployed amounted to 836,637 while the number of inactive amounted to 3.312.753.

    The number of employed persons decreased by 174.217 persons compared with June 2019 (a 4.4% rate of decrease) and increased by 11.640 persons compared with May 2020 (a 0.3% rate of increase).

    The number of unemployed persons increased by 27.091 persons compared with June 2019 (a 3.3% rate of increase) and by 58.146 persons compared with May 2020 (a 7.5% rate of increase).

    The number of inactive persons, i.e., persons that neither work nor look for a job, increased by 108.669 persons compared with June 2019 (a 3.4% rate of increase) and decreased by 2.265 persons compared with May 2020 (a 2.1% rate of decrease).

  • Alpha Bank launched a full online service for Greek companies

    Alpha Bank launched a full online service for Greek companies

    Alpha Bank is the first Greek bank to offer the possibility for companies to begin their banking relationship easily, quickly and without having to visit a branch.

    The new service complements the online renewal of legal documents implemented by Alpha Bank in 2019 and the online registration for Businesses to the e-Banking.

    ”The new Digital Business Onboarding service offers businesses a modern and interactive
    guide to start their banking relationship with Alpha Bank in an exclusively digital
    environment, as well as the ability to submit the necessary documents online, safely and
    quickly, without the need to visit a branch”    , said the Manager of the Digital Banking Division, Agis Papastergiou.

  • VR Pilgrim changes the way we travel spiritually

    VR Pilgrim changes the way we travel spiritually

    VR360 Treasures has launched its first mobile application VR Pilgrim that takes virtual reality travel and educational experience to the next level.

    With the new app users become pilgrims who will be able to see miraculous icons and holy relics, enjoy the magnificent views of the Meteora monasteries soaring in the sky, walk with the monks along the Holy Mount Athos and worship the Virgin Mary on Mount Harissa in Lebanon.

    All content is shot in 360° video format, which allows users to fully immerse in the atmosphere of the Christian treasures.

    The project’s library is constantly growing and today accounts over 200 VR films from Greece, Italy and Lebanon.

    Moreover, there are about 30 VR films where monks share their cooking recipes which over centuries were kept in secret.

    Interviewers’ stories and voice-over text in English, Greek, Russian and soon in Chinese let everyone find out many interesting facts that have never been published anywhere before.

    Starets Kirill, Archimandrite of the cell of St. Nicholaos Halkias of Mount Athos, who was directly involved in the filming process, said: “Two years ago, when we blessed VR Treasures for creation of virtual library about the treasures of Athos, no one could imagine how relevant this would become. In the actual situation, VR Pilgrim is the only opportunity to see the holy places with your own eyes”.

    VR360 Treasures is a technological company, which creates exclusive and impressive VR content and apps that can attract the widest audience.