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| | Must Visits | Need to Know | Capital City Athens | | Tipping 12- 15% | | Electricity 220 V
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Economy
In the year 2008, Greece recorded a GDP of US$343.6 billion and a GDP per head of US$32,000. The Annual growth was 3.3%. However, this GDP does not tell you about the tons and tons of economic activity that is generated every day in Greece’s huge black market – which accounts for 40% of all commercial activity. However, commerce-generating as it is, the black market is also an obstacle to modernization.
The major contributor to the Greek GDP is tourism providing 15% of the GDP. Others being shipping, food and tobacco processing, textiles, chemicals, metal products, mining and petroleum.
Greece also has a large public sector – some of which has been privatized and disinvested in recent years, but its predominance continues. Most of the country’s trade is conducted with Germany, Italy, France, UK and USA.
Greece joined the European Union in 1981, and was its 12th member. Greece could not meet the convergence criteria for the European single currency because of its huge public sector deficit and the country entered Euro zone in 2001.
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Currency
The currency, now officially is Euro. No other currency is accepted in Greece.
All shops, hotels and restaurants accept credit cards in Greece except some shops in small towns which do not have this facility. Visa, MasterCard and now the Eurocard are all usable. Most banks have ATMs where you can access your debit account through Maestro and Cirrus networks, and there are also a number of 24-hour banknote exchange machines. Banks are open from 9:00 A.M until 2:00 P.M
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Business Guide
Office and business hours vary from season to season, though 9 to 5 is a good rule of thumb, but watch out for siesta time – not the best time to do business. Lunch breaks are long.
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Holiday Packages
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Travel Tools
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