Business activity weakens in Eastern Macedonia and Thrace, with business closures among Greece’s highest
Eastern Macedonia and Thrace recorded one of Greece’s highest business closure rates in 2024, while the region also lagged behind in the share of high-growth companies, according to newly released data from the Hellenic Statistical Authority (ELSTAT).
The figures highlight persistent challenges for the region’s business environment, with business closures matching the highest regional rate nationwide and high-growth enterprises accounting for just 0.7% of active businesses.
BUSINESS CLOSURES REACH 4.8%
According to ELSTAT’s business demography statistics for 2024, Eastern Macedonia and Thrace had 38,815 active businesses, representing approximately 4% of the national total, despite accounting for 5.36% of Greece’s population.
The region recorded 2,926 business births during the year, equivalent to 7.5% of its active business population. At the same time, 1,860 businesses ceased operations, corresponding to a closure rate of 4.8%.
This was the highest business closure rate in the country, shared with Central Macedonia and Western Macedonia, pointing to a broader challenge affecting northern Greece.
FEW HIGH-GROWTH BUSINESSES
The region also performed poorly in terms of business growth. A total of 261 active high-growth enterprises were recorded in Eastern Macedonia and Thrace, representing just 0.7% of its active business population.
The data therefore point to a combination of high business attrition and a relatively limited presence of companies experiencing rapid growth.
HOW OTHER GREEK REGIONS PERFORMED
ELSTAT's figures also revealed significant regional differences in business activity:
Active businesses: Attica accounted for the largest share, at 39.5%, followed by Central Macedonia at 15.9%.
Business births: Attica recorded the highest birth rate relative to its active business population, at 10.4%, followed by Central Macedonia at 9.4%.
Business closures: Eastern Macedonia and Thrace, Central Macedonia and Western Macedonia shared the highest rate, at 4.8%.
High-growth businesses: The South Aegean recorded the highest proportion, at 1.3%, followed by Crete at 1.1%.
BUSINESS DEMOGRAPHY ACROSS GREECE
Nationwide, Greece had 964,851 active businesses in industry, construction, trade and services in 2024.
During the same period, 88,028 new businesses were established, while 37,391 ceased operations.
The active business population employed 3,632,302 people. Newly established businesses accounted for 177,433 jobs, while businesses that closed had employed 48,129 people.
The figures underline the uneven distribution of business activity and growth across Greece, with Eastern Macedonia and Thrace facing particular challenges in business survival and expansion.
Hellenic Statistical Authority (ELSTAT), via Paratiritis.
