Greek economy grows for the first time in 6 years, driven by tourism development
According to comprehensive reports from Worldway: On August 3, the latest statistical data showed that the Greek economy experienced growth in the second quarter of this year, marking the first such occurrence since 2008. Although the growth rate remains low, it has brought hope to Greece. It is reported that the primary reason for this economic growth is the development of the tourism industry.
The Centre of Planning and Economic Research (KEPE) in Greece released data in Athens on Friday, August 1, indicating that compared to the same period last year, Greece's total economic output grew by 0.38% in the second quarter of this year. This is the first growth recorded since the country's economic crisis began in 2008. The research center pointed out that the development of the tourism industry is the main reason for this economic growth.
Reports state that in the first quarter of 2014, Greece's total economic output fell by 0.9% compared to the same period last year, so the growth in the second quarter has undoubtedly brought hope to Greece. The Centre of Planning and Economic Research expects Greece's economic growth rate to reach 1.2% and 1.9% in the third and fourth quarters of this year, respectively, with an annual growth rate projected to be between 0.56%—0.72%.
Worldway Editor
