Pandemic Cost Greek Businesses 3.6 Billion Euros in 2021 Q1

ATHENS – Showing how devastating the lingering COVID-19 pandemic has been on Greece, businesses said they suffered losses of at least 3.6 billion euros ($4.4 billion) in the first quarter of 2021 when they were locked down.

That was a 5.4 percent further drop over the first period of 2020 when the pandemic gripped Greece in March of that year and began spreading across the country, bringing two lockdowns, one still technically in effect.

Not surprising, it was worse for non-essential businesses that were either barred from opening or had to rely on alternating openings or a click-and-collect method in which people could make purchases online and pick up outside the stores.

Their revenues fell 39.1 percent, some of which they hope to recoup now that people are allowed to shop again and tourists who are vaccinated or free of the Coronavirus are being allowed in, a big spending unit.

Figures from the Hellenic Statistical Authority (ELSTAT) released May 18 showed businesses took in 63.56 billion euros ($77.66 billion) in the first quarter, down from 67.16 billion euros ($82.06 billion) in 2020.

The biggest losses in percentage terms were recorded in the sectors of arts and entertainment that shut, said Kathimerini, their turnover falling 70.4 percent over last year.

Food and hospitality businesses now allowed to operate only for outdoor dining took a 53.9 percent hit but that translated to staggering losses of 920 million euros ($1.124.05 billion) and won't be allowed to open indoors until June 1.


ATHENS - While Prime Minister Kyriakos Mitsotakis has brought an accelerating economy to Greece, his government is struggling to hold down soaring food prices that have led many households to switch to cheaper products or cut spending.

Top Stories


A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.


1 of 2 Abducted Louisiana Children is Found Dead in Mississippi after Their Mother is Killed

JACKSON, Miss. (AP) — A Louisiana woman was found dead in her home Thursday, and her two young daughters were abducted and found hours later in Mississippi — one dead and the other alive, police said.

ATHENS - A Greek lawyer who took on celebrated cases was released from custody after admitting he savagely beat his wife, as the government said it would try to protect women from domestic violence and wanted stricter penalties.

PHOENIX — Over 75 million people in the United States were under extreme heat alerts Monday as a heat wave moved eastward, and the mid-Atlantic and New England were likely to see highs in the 90s as the week progresses.

NEW YORK – Constantine Iordanou, the well-known Cypriot businessman, passed away on June 16 due to a heart attack.

NICOSIA -Cyprus’ biggest tourism drawing card - its beaches - could vanish in the next 50 years because of rising sea levels and climate change that world governments hare largely ignored, Cyprus Institute scientist Giorgos Zittis has warned.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.