Rise in tourism boosts commercial activity in Athens city center

Tourism is breathing new life into Athens's beleaguered commercial triangle - the area encompassed by Syntagma, Omonia and Monastiraki squares - as the share of shuttered shops has dropped below 25 percent for the first time since September 2012, when the Hellenic Confederation of Commerce and Entrepreneurship (ESSE) started the relevant survey.

The rise of tourism in the Greek capital has led mainly to the opening of new food service outlets where traditional retailers - such as clothing stores - used to operate, while food stores, including supermarkets, have added to the area's commercial revival. These are activities that have benefited from the increase in tourism throughout the year but also from skyrocketing popularity of Airbnb-style accommodation in the city center.

On the contrary, central arteries on the edge of that triangle, such as Stadiou and...