UK’s departure from the EU will ultimately have consequences on the Greek economy, which could range from 0.4% to 0.8% of Greek GDP with the most significant implications expected in tourism.
Briefing the MPs of the Parliamentary Standing Committee on European Affairs today, Alternate Foreign Minister Giorgos Katrougalos stressed that the European Commission’s proposal, which was approved by the European Council, is balanced, as it clarifies that the United Kingdom cannot have more rights than when it was a member, though this does not mean that the negotiations will be vindictive or punitive in nature.
During the negotiations, Mr. Katrougalos added, all of the member states will have a unified voice, but this does not mean that we will not defend our national interests.
The immediate priority for Greek foreign policy, Mr. Katrougalos stressed, is to safeguard the post-Brexit rights of the 70,000 Greeks and 250,000 Greek Cypriots residing in the UK.
According to him, Brexit’s impact on Greece is expected to reach up to 1.6 billion euros or 0.8 percent of GDP after 2019, citing data released by the Bank of Greece.
Revenue from foreign exchange is estimated at dropping between 2.29 percent and 6.3 percent of the total earnings from British tourists as, in 2015, around 2.4 million British tourists visited Greece, spending approximately 2 billion euros on their holiday.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
