The tobacco crisis hits Xanthi

“After the Balkan wars, since the Xanthi tobacco merchants were weakened, foreign tobacco industries dominated. However, several local firms remained in the foreground, dealing with the tobacco trade as representatives of foreign companies. From the beginning of 1930, however, the international economic crisis triggered a crisis in the tobacco production and trade processes, which gradually took on structural characteristics in the Greek region and peaked in the early 1950s. After 1951, only 14 businesses operate in Xanthi, some of which are small and Greek, and others are branches of foreign tobacco industries. However, these also shut down over time and the city languishes economically and demographically”.

Creator: “Tobacco News” Newspaper (1951)
Source Hellenic Literary and Historical Archive (ELIA) – National Bank of Greece Cultural Foundation (MIET)