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Greeks Spend More Money on Phones Despite the Crisis

Despite the financial crisis that has been plaguing Greece for more than five years, the number of mobile phone subscribers in 2014 reached 16.4 million. According to recently released data, these subscribers also increased the time they spend talking on the phone by 4.5%, compared to the previous year.
According to a study conducted by the Economic University of Athens on behalf of the Greek Mobile Operators Association (EEKT), telecommunication companies invested 16% of their revenues mainly in infrastructure for new technologies, leading to a 21% increase compared to the previous year. However, due to continuous reductions in prices the revenue fell by 4.4%.
Greece now has the cheapest mobile contract in Europe, especially in regards to phone call and mobile data prices which have shown 67% and 90% decrease respectively since 2008. Meanwhile, last year the total revenue per user fell to 10 euros per month. The future lies with mobile data revenues, which showed a 10% increase in 2013, an upward trend that continued in 2014 as well.
The sector’s direct contribution to the country’s GDP is particularly important since it represents 1.3% of Greece’s GDP, while the state’s revenue from mobile operators reached 1.25 billion euros.

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