Economy of Crete

Economy of Crete
The economy of Crete is predominantly based on agriculture and is one of the few Greek islands that can support itself independently without a tourism industry.
The economy began to change visibly during the 1970s as tourism gained in importance. While an emphasis remains on agriculture and stock breeding, due to the climate and terrain of the island, there has been a drop in manufacturing, and an observable expansion in its service industries (mainly tourism-related). All three sectors of the Cretan economy (agriculture/farming, processing-packaging, services), are directly connected and interdependent. The island has a per capita income much higher than the Greek average, while unemployment is at approximately 4%, 1⁄2 of that of the country overall.

As in many regions of Greece, viticulture and olive groves are significant; oranges and citrons are also cultivated. Until recently there were restrictions on the import of bananas to Greece, therefore bananas were grown on the island, predominantly in greenhouses. Dairy products are important to the local economy and there are a number of speciality cheeses such as mizithra, anthotyros, and kefalotyri.
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