The first curfew and lockdown in Greece, which began on March
The first curfew and lockdown in Greece, which began on March 22, 2020, caused significant short-term economic disruption, even though it was effective in controlling the spread of Covid-19, according to studies and doctoral theses produced by the University of Athens (EKPA) and the University of Piraeus, as well as reports from the Bank of Greece.
The most immediate result was the interruption of economic activity. Businesses such as retail shops, restaurants, and tourism services closed, and movement was severely restricted, causing a sudden halt to both consumption and production.
As a result, the economy contracted sharply. Greece’s GDP fell by approximately 9% in 2020, with the initial lockdown playing a significant role in that decline.
The critical tourism sector was hit particularly hard. With travel restrictions in place and hotels closed, international arrivals collapsed. Given that tourism represents a large share of the Greek economy, this created one of the most severe sectoral shocks in the country’s modern history.
The labor market was also affected, albeit in a somewhat hidden way. Rather than mass layoffs, the main impact was a sharp drop in hirings, especially for seasonal and tourism-related positions. Employment opportunities, particularly for younger
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