As fears of the Greek debt default and economy rises as the payment deadline nears, the world watches in anticipation of the events that may transpire. Will Greece get bailed out once more? Will it make good on the $1.7 billion repayment the country is expected to make at the appointed time?
However, amidst the economic and financial conundrum that the European country is caught in right now, it is worth noting that a number of businesses have thrived amidst what appears to be a gloomy fiscal backdrop. Here are 5 businesses which managed to succeed in Greece.
Safes
George Moschopoulos' safe-making business is booming, thanks to Greeks keen on protecting their cash in the confines of their own homes.
"If you stuff your money in the mattress, it's a thousand percent certain you will get robbed," he was quoted by Time as saying, also explaining that while the bank is the safest place for securing one's money, "there's always the chance that some law will get passed to investigate what's inside all those boxes, and they could all be frozen."
Time went on to reveal that burglary cases are up 76% in 2012. "Police in Poland, whose population is 3.5 times larger than that of Greece, recorded less than half as many burglaries that year," the news source said.
Considering that Greek banks are closed for the week, it appears those who have invested in safes are probably patting themselves on the back right now for such a move. It is also probable that more will be acquiring their own residential strongbox in the coming days just to safeguard their cash.
Fertility Treatments
Kostas Pantos is the founder of the biggest fertility clinic in Greece, called Genesis.
"There might be a financial crisis, but people will still pay to get a child when they want one," he told Bloomberg. "We're booming."
"The economic crisis, and loose regulation coming with government spending cuts, may even have helped the fertility industry," the news source explained.
Greek Yogurt
This Greek staple is also popular abroad and continues to enjoy robust demand in the wake of Chobani and Fage's success, Business Insider noted.
Apple Devices
Even in a country strapped with financial woes, Apple products remain a coveted commodity and serve as status symbols.
Cash for Gold
The bleak economic climate apparently prompted citizens to liquidate resources meant for emergencies, hence the proliferation of cash for gold shops.
Tourism is also one sector that appears to continue to find good business in a country that has a good number of historical sites and picturesque beaches.
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