While many Greek households are grappling with inflation and the high cost of food and other essentials, the affluent are splurging on luxury goods, according to a survey by KPMG accounting services.

The survey revealed that in 2022, when COVID-19 health measures were lifted to attract tourists – particularly foreign travelers who displayed a keen interest in luxury items – the Greek luxury goods market experienced a surge due to tourism and the opening of new retail outlets. Athens serves as a focal point for these businesses, alongside the renowned tourist destination of Mykonos, which, especially during the summer months, draws celebrities, yachts, wealthy visitors, and high-end goods businesses.

Source: The National Herald