Actions Required to Boost Trade Activity in Center of Athens, Says Study

Photo source: Visit Greece

The number of tourism-related businesses in the center of Athens account for a mere 4 percent of the total, according to a new study released this week by the Athens Traders Association in collaboration with the Athens University of Economics and Business.

Titled “Land Uses in the Commercial Heart of Athens”, the study shows that there are currently 99 tourism-related enterprises in the center of the Greek capital up from 54 in 2022. These include hotels, accommodation facilities and room rentals and account for 4.1 percent of the 2,426 businesses operating in the center of Athens compared to 2.9 percent of 1,887 business in 2022.

At the same time, 23.3 percent or 565 properties – or one in four shops – in central Athens are closed or abandoned.

According to study analysts, actions must be taken to ensure that the Greek capital remains viable, and this can only be done by preserving trade activity in the center and including in this other uses as well such as hospitality and F&B.

Meanwhile, clothing, footwear, accessories and coffee shops account for 396 shops or 16.2 percent of the total operating in central Athens. Three in 10 businesses in Athens are cafes. Restaurants and entertainment enterprises account for 350, or 14.4 percent of all businesses located in the center of Athens.

In 2017, the Athens Traders Association in collaboration with the Attica Region and the Municipality of Athens announced plans to revamp and use deserted buildings in the city center to house small and medium-sized retailers for a token rent.

In relevant news, a 2022 study also found that Greece was among the countries in Europe with the highest number of empty apartments. There are currently more than 750,000 closed apartments in Greece which could have been used to address the rising housing problem exacerbated by the Airbnb phenomenon, analysts note.