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Greek retail and hospitality sectors face economic pressure
The Greek retail and hospitality sectors are facing significant challenges due to reduced consumer purchasing power and rising living costs. Business leaders from the Athens Chamber of Commerce and the Piraeus Chamber of Industry and Commerce report that summer sales are underperforming. While turnover for summer sales may approach 7 billion euros, this figure masks a lower volume of purchases and increased pressure on SME liquidity. Approximately 71.3% of SMEs report lower turnover compared to last year, with many calling for legislative changes to prevent constant, unregulated discounting that favors large multinationals and e-commerce platforms.
In the broader economy, ELSTAT data for the second quarter of 2026 shows a 6.5% increase in accommodation turnover, while the catering and hospitality sector saw a 2.5% decline. Retail turnover (excluding food, vehicles, and fuel) fell by 3.7% in real terms during the second quarter, with large enterprises seeing a 6.1% drop.
Additionally, the rise of e-commerce has led to increased consumer complaints regarding illegal or abusive practices, prompting calls for stricter enforcement of the 'Withdrawal Button' for online shoppers. Meanwhile, the real estate market in Crete has seen a 50% price surge over the last five years.
Entities
Athens Chamber of Commerce · ESEE · Greece · Hellenic Statistical Authority · Piraeus Chamber of Commerce and Industry · Piraeus Chamber of Industry and Commerce · SEEE · Thanos Tsaggaris · Thanos Tsangaris · Vasilis Korkidis
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] BOX NOW EBITDA turned positive at 2.52 million euros in 2025, up from negative 3.4 million euros in 2024. www.fortunegreece.com
- [○ 1 SOURCE] Summer sales turnover is expected to approach 7 billion euros.
- [○ 1 SOURCE] BOX NOW turnover increased by 127% to 34.8 million euros from 15.3 million euros. www.fortunegreece.com
- [○ 1 SOURCE] A market supervisory authority imposed a 150,000 euro fine on an e-shop for non-delivery of paid products. www.iefimerida.gr
- [○ 1 SOURCE] 73% of businesses attribute market weakness to limited purchasing power.
- [○ 1 SOURCE] 91% of BOX NOW sales are derived from e-shops. www.fortunegreece.com
- [○ 1 SOURCE] 55% of businesses reported lower turnover compared to 2025.
- [○ 1 SOURCE] 36.6% of Consumer Ombudsman reports in a single year related to distance shopping. www.iefimerida.gr