Greek retailers’ optimism for the Orthodox Easter season paid off, as the market recorded over 1.5 billion Euros in turnover, surpassing last year’s numbers. President of Piraeus Chamber of Commerce and Industry (EBEP) Vassilis Korkidis commented on the results, noting that “after a two-month slump, the market has rebounded, and, with the advent of the summer tourist season, hopes to fair even better.”
This year’s Orthodox Easter coincided with the beginning of the summer tourist season, resulting in a 15% increase in tourist traffic in downtown Athens, as well as an influx in arrivals of cruise ships to Greece’s islands.
Korkidis mentioned that the increase in wages and pensions, as well as the deposit of the Easter bonus, cushioned the influx in food prices. The Greek Development Ministry’s “Easter” and “Godparents” baskets further aided in moderating inflation, which allowed for more consumer spending.
According to Korkidis, six out of 10 consumers maintained or increased their Easter spending, with an average expenditure of 190 euros on gifts and sweets for their various social gatherings.
In regards to holiday feasting, according to the General Consumer’s Federation of Greece (INKA), this year’s Orthodox Easter table cost an average of 356 euros, a 6% increase from last year.
Furthermore, despite the increase in fuel prices, as well as air and sea tickets, urbanites were not deterred from leaving the city for their “Easter getaway”, as ships recorded a 85-100% capacity and 700,000 private vehicles exited the broader Athens-Piraeus region at the end of the Holy Week.
