Piraeus Bank report: Greek tourism SMEs were more dynamic in 2017

Greece's small- and medium-sized enterprises gained greater dynamism in 2017, in the wake of a stabilisation trend the previous year, according to a Piraeus Bank report released on Tuesday, with a significant number of economic activity sectors such as tourism presenting a marked improvement in financial performance.According to the bank's economic analysis and investment strategy department, the average credit rate of Greek SMEs was "a" in 2017, from "b" in 2016 and "c" in the 2010-2012 period. Based on the latest figures, 32 sectors (or 64 pct of total) were included in the high-performance category with a total turnover of 41.7 billion euros and accumulated net profit of 1.8 billion euros. The satisfactory performance category included seven sectors (14 pct of total) with turnover of 4.1 billion euros, net pre-tax earnings of 109.5 million euros, while the medium-performance category included 12 pct of total sectors with sales of 2.0 billion euros and net pre-tax earnings of 15.1 million euros. There were five underperforming sectors (10 pct) with sales of 742.2 million euros and net losses of 78.9 million euros.The best performers included even non-traditional sectors, such as repair and installation of machinery and equipment, base metal production, electrical equipment, computer software and administrative and support activities.The report stressed that this positive trend among Greek SMEs was an optimistic message, but warned that challenges facing the economy have not ceased to exist.Read more here.RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism reportPhoto Source: Wikimedia Commons Copyright: Erud License: CC-BY-SASource: ANA-MPALet's block ads! (Why?)