Over the forecast period, consumer credit gross lending is set to continue increasing, with growth set to be pushed mainly by rising demand in the largest category of card lending. Nonetheless, it is very likely that Greek consumers will remain rather conservative when it comes to consumer credit, with borrowing likely to be limited to smaller amounts that cover actual need as many people are still concerned about overborrowing after having made this mistake in the past.
Demand for durables is proving strong during the post-COVID-19 era as many of the consumers who adopted a cautious attitude towards pending during the pandemic have chosen to spend money on a variety of consumer durables. Even before the onset of the COVID-19 pandemic, many great people were reluctant to spend money unless absolute necessary and this is a reflection of the careful attitudes towards personal finances that have been seen in Greece for more than a decade due to the negative impact of the 2009-2010 economic crisis on the national psyche.
Buy now, pay later is one area of consumer credit that has enormous potential for substantial growth in Greece during the forecast period. This is a relatively new area of consumer credit for most Greek consumers.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Greece with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in Greece, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.See All of Our Definitions
This report originates from Passport, our Consumer Credit research and analysis database.
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