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Museums Network by Piraeus Bank

Creation and Operation of Museums by Piraeus Bank (PIOP)

The following nine thematic technological museums are in operation:
  1. Silk Museum in Soufli,
  2. Open-Air Water-Power Museum in Dimitsana, Arkadia,
  3. Museum of the Olive and Greek Olive Oil in Sparta,
  4. Museum of Industrial Olive Oil Production in Lesvos (Aghia Paraskevi), Lesvos island,
  5. Rooftile and Brickworks Museum N. & S. Tsalapatas in Volos,
  6. Museum of Marble Crafts in Pyrgos, Tinos island,
  7. Museum of the Environment in Stymfalia Oreini Korinthia,
  8. Chios Mastic Museum in Southern Chios, in the region of the Mastichochoria,
  9. Silversmithing Museum in the castle of Ioannina.

These museums do not belong to PIOP or the Bank but to the Local Government or the Greek State. The Foundation is committed to and has undertaken the museums’ exemplary operation for the first 50 years. It covers their total expenses and ensures their smooth operation. Local partners and representatives of the Hellenic Ministry of Culture and Tourism participate in the museum operation committees. Following the 50-year period, the owners of these museums undertake these responsibilities if they choose to do so.

The continual increase in visitor numbers in the Museum Network is due to the fact that they are becoming all the more recognizable. In 2016 approximately 220,000 people visited the Museums of PIOP, noting an increase of 14.25% in relation to 2015 while in 2017 the number rose by 43.2% versus 2016, exceeding 314,000 visitors. Museum Network employees receive regular training in order to continually upgrade the services provided to customers.

Support and Development of Local Societies through PIOP


The Cultural Foundation of Piraeus Group (PIOP) in the framework of Piraeus Bank's strategy of sustainable development, has undertaken the implementation of cultural and scientific actions in the Greek periphery. Its policy is unwaveringly oriented towards the development of local societies and has as its basic aim their direct cultural and indirect economic upgrading.

This aim is achieved with the creation and operation of an extensive, continually-growing Network of thematic technological museums at selected sites in the Greek periphery. The subject of each museum focuses on the local crafts, the technological traditions and production.

The following nine thematic technological museums are in operation:
  • Silk Museum in Soufli,
  • Open-Air Water-Power Museum in Dimitsana, Arkadia,
  • Museum of the Olive and Greek Olive Oil in Sparta,
  • Museum of Industrial Olive Oil Production in Lesvos (Aghia Paraskevi), Lesvos island,
  • Rooftile and Brickworks Museum N. & S. Tsalapatas in Volos,
  • Museum of Marble Crafts in Pyrgos, Tinos island,
  • Museum of the Environment in Stymfalia Oreini Korinthia,
  • Chios Mastic Museum in Southern Chios, in the region of the Mastichochoria,
  • Silversmithing Museum in the castle of Ioannina.
PIOP supports the remote or island regions of Greece where the museums are located by continually raising tourist numbers in these. PIOP achieves economic strengthening of local societies by ensuring that:
  • It supports cultural tourism,
  • 80% of goods and 50% of products on sale at the museum shops and cafeterias are supplied by the local market,
  • It creates jobs by employing personnel mainly from the region of operation of each museum.
Local societies recognize the positive effects of the projection of their cultural identity on the strengthening of their economies. They exploit the cultural reserve they possess by using as their basis research work which is related to the creation and operation of the PIOP museums and concerns the historical recording of their local production and their industrial development.

The contribution of the museums to the economy is connected with their ability to attract visitors. It should be noted that despite the economic crisis (and the consequent crisis in culture), PIOP’s Museums have had a consecutive annual increase in visitor numbers. In 2016 approximately 220,000 people visited the Museums of PIOP, noting an increase of 14.25% in relation to 2015 while in 2017 the number rose by 43.2% versus 2016, exceeding 314,000 visitors.

In 2016, PIOP commissioned the Foundation for Economic & Industrial Research (IOBE) to conduct a special research study regarding the social and economic impact of the Museums of the Foundation at a local level. By applying the Leontief inflow-outflow model, specially designed for the financial data, the central, peripheral and local economies and administrative structures, it developed a method of calculating the direct, indirect, induced and catalytic impacts from the Museums’ operation at a local level.

The results of the study prove and quantify this contribution in specific sectors:

- An increase in the revenues from tourism in the corresponding areas of the country (for 2016, at least €5.5 mn with a conservative estimation of the catalytic impact, and with a more optimistic estimate of the catalytic impact, up to €11.3 mn.).

- Impact of the activities of the Museums to the GDP of the country (for 2016: without taking into consideration the catalytic impact, reaches €4.3 mn, while in terms of employment it amounts to 103 job positions. In the conservative estimation of the catalytic impact, the total contribution of the Museums to the GDP of Greece transcends €13.4 mn, while in the optimistic estimation it reaches €23 mn.).

- Contribution of the Museums to employment (for 2016: based on the conservative estimate of the catalytic impact reaches 345 jobs. In the more optimistic estimate, the respective contribution reaches 600 jobs.).

Based on the above data and given the rising trend in visitor numbers to PIOP's Network of Museums the aforementioned amounts are expected to show an equivalent rising trend in the coming years.

Finally, the Museums also contribute to the economy of the country during their construction. Using the most recent example of the Museum of Silversmithing, the total impact of its construction to the economy of the Municipality of Ioannina reached €7.8 mn in terms of GDP, and €10.6 mn for the whole country. In terms of employment, the construction of the Museum led to the creation of 236 jobs in Ioannina and 284 jobs in all of Greece.