GREECE: Greeks cut back on luxuries such as sex toys, just one example of how the country's economic troubles are affecting small businesses across the board

Record ID: 335338

  • Title: GREECE: Greeks cut back on luxuries such as sex toys, just one example of how the country's economic troubles are affecting small businesses across the board
  • Date: 28th May 2012
  • Summary: VARIOUS OF SHOW BY WOMAN POLE DANCING AS VISITORS WATCH
  • Embargoed: 12th June 2012 13:00
  • Keywords:
  • Location: Greece
  • Country: Greece
  • Topics: Business,Economy,Domestic Politics,People
  • Reuters ID: LVA2VJ7YNNVVCX69JC0E8S950CV3
  • Story Text: Hundreds of visitors were trawling the stalls at the 'Erotic Dream' Sex Fair in the Greek capital on Saturday (May 26) but few were actually making purchases.
    The fair open its gates this weekend and is Greece's biggest erotica sex festival, packaged with gadgets, undergarments, porn videos, gels and toys.
    With elections due on June 17 which could hasten the country's departure from the euro, anxiety over the economy has meant sharply reduced consumer spending.
    Severe austerity measures have also helped stifle consumption, particularly for luxury goods. Value added tax on sex merchandise has been raised to 23 percent of the cost of the item as part of the austerity measures.
    "People come in but they look around and then just leave. Its not like previous years where they would definitely buy three or four products. This time they might buy one product and that is with us pushing them to do so," said shop worker Marialena Koulouri, running one of the booths.
    The troubles of Greece's sex and porn industry mirror those of other small businesses struggling with tax increases and competition from countries such as Germany and Poland.
    The fair's organizer, Vangelis Charalambous, said the number of exhibitors has shrunk by about 50 percent since 2008. Now there are only a dozen stalls.
    As for the industry in general, only 100 sex shops in Athens have survived out of the previous 400 shops.
    "Due to the economic crisis many businesses have closed. In terms of visitor numbers we are doing well, but the number of vendors participating is less than in previous fairs," Charalambous said.
    While many vendors are struggling to break even, pole dancing teacher Antigone Koe said her customers enjoyed their pole dancing lessons so much they are reluctant to give them up despite the cost involved.
    "We are doing well for now. The women that try this really get into it, and they try to keep it going. They prefer to cut down on something else than dancing," Koe said.
    The popularity of Koe's lessons are perhaps a testament that many Greeks need at least some form of escapism in the current climate.
    Most economists agree the austerity measures foisted on Greece as part of its 130 billion euros bailout they will drive the country deeper into recession and make debt even harder to cut.
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