Trade and Industry

The economic growth that had begun in the town under the Cretan State accelerated yet further. Union with Greece now linked commercial activity on the island directly to the Greek economy, thus boosting trade and industry. The contribution made by the refugees to economic growth in Heraklion was of course to prove decisive and manifold, lying as it did in business acumen and experience, cheap labour and a new consumer public forced to rebuild its life from scratch.

The major public works projects carried out in this period were also to have a catalytic effect on the creation of even better conditions. The town gradually became a significant export hub, on account of the large new port, which regular steamship services linked not only to Greek ports, but also to Alexandria, Smyrna, Trieste and Hamburg.

The town's markets and commercial centre cast off the oriental features of the past once and for all. Retailers' turnover increased as the people of Heraklion grew ever keener on seeking out the consumer goods dominant in European society.