The development of Crete is very notable during the last decades. Crete has the smaller percentage of unemployment in the outside of Greece, while its' economy is better than the average of Greece.
The most important sections of economy in Chania are agriculture and tourism. A big portion of the city's residents (not necessarily farmers)own from few to many decares of agricultural land where several plants are being cultivated, the most popular ones being olive trees and citrus. Other main products comprise wine, avocados, dairy etc. Apart from the traditional ways of cultivation, some of the producers have concentrated on practicing new methods in order to promote organic food. The organization of the Agricultural August has been a recent try to promote local quality products including a series of activities organized by the Prefecture of Chania since 1999 and has proved very successful.
On the other hand, other of the most dynamic sectors of the Chania economy is the tourism. Lately, the tourism has replaced to the agriculture as the economic mainstay of the island and contributes a large proportion of the gross domestic product. The excellent climate of the island, the beautiful landscape and different categories of accommodation, from cheap pensions through luxurious tourist resorts, attract as many as two million visitors every year for this reason Crete is one of the most popular holiday places in Greece. Nowadays the tertiary sector (also known as the service sector or the service industry is one of the three main industrial categories of a developed economy) is becoming more and more important for the locals, since an increasing number of them are participating in the business. Agrotourism and ecotourism are forms of tourism which are significantly developing lately.
There is also some secondary industry with focus on the processing-packaging of the agricultural products (some of them export oriented) or manufacture products that support the agricultural production. However, the growth and development of academic/research institutions in Chania is a challenge for future economic activities by taking benefit of the specialized knowledge of scientists and technicians and by also reinforcing quality tourism (conferences etc.).