According to Georgios Kavvatas, President ΓΣΕΒΕΕthe situation is complicated by the rise of short-term rentals as tourists staying in Airbnb-type accommodations limit their spending.
On Monday, July 8, summer sales started in stores, which will last until Saturday, August 31. The skepticism of traders, caused by high prices that literally “eat away” at their customers' income, seems to have been confirmed: store traffic has decreased.
“We are experiencing a period when the disposable income of the population has significantly decreased. This also affects the market. We are at the peak of the discount period, but as we can see, small retail does not have a normal trade-off, – says ΓΣΕΒΕΕ President Georgios Kavvatas. – There is no consumption outside the hotels. Local residents do not have sufficient income, and in combination with the high temperatures, it is de facto not the best activity to go shopping on the shopping streets. Tourism helps Athens. However, I I can't say that traders in tourist areas are “raking in” money in retail trade. MWe see in tourist areas that, despite the presence of visitors, very little is bought.”
The situation is complicated by the explosion of short-term rentals as tourists staying in Airbnb-type accommodations cut their spending.The restaurant industry is losing customers,Tourists staying in apartments rented out through Airbnb go to supermarkets, buy groceries, and cook for themselves, – says Georgios Kavvatas. – What What worries businesses is the increase in operating expenses, which have reached an average of 35%. Our electricity supplier tariffs are increasing. Enterprises are currently exempt from any subsidies. We asked for a review, but we were refused.”
More Stories
The issue of raising the retirement age is back on the agenda
Growth rates of private label sales in supermarkets
Moody's: Greek economic outlook upgraded to positive