2016 will be a positive year for Greek tourism, according to a study on “Opportunities, Challenges and Prospects of the Greek tourism industry” presented today at the 1st Conference of Greek Tourism organized under the auspices of Eurobank and SETE in Athens.
The main points of the analysis are summarized below:
-The total contribution of tourism to the Greek economy amounts to 18.5% of GDP according to the World Travel & Tourism Council, and according to SETE estimated 20-25% of GDP. And according to the study, the overall contribution of tourism to the GDP of the country will reach 22.4% in 2025.
-According to the World Travel & Tourism Council, the total contribution of tourism to employment stood at 23.1% in 2015 and is estimated to reach 28% in 2026.
-The traditional tourist product based on the triptych “Sun, Sand and Sea” is necessary to maintain and upgrade. It is after all, the main reason for attracting visitors to Greece. This can be achieved mainly through the quality of service upgrade. However, complacency is not allowed. The increased flow of tourists in recent years can be attributed to the efforts of professionals and the implementation of a series of reforms but mainly to geopolitical turmoil in the region, which considerably affected many of Greece’s competitors. But sooner or later competition will intensify again.
-It is necessary to create those conditions that will allow the sale and maintenance of a competitive product while, at the same time, it is necessary to develop other types of tourism products such as nautical, City Break, medical, cultural, religious and professional tourism.
-Strategies that will enable the enrichment of our tourism product to achieve geographical and temporal expansion of season and increase in tourist revenues include, among others:
• Ensuring fiscal stability as a key condition for both the return of Greek economy to a sustainable rate of growth and for the creation of fiscal space that will allow the gradual reduction of tax rates.
• Simplification of the legal framework, directly reducing bureaucracy and legislating strict deadlines for issuing permits.
• Creation of an effective investment law to provide tax and other incentives for a reasonable period of time.
• Acceleration of public property utilization program, upgrading of critical infrastructure such as motorways, regional airports and marinas and enhancement of coastal Athens area and Thessaloniki.
• Attraction of travelers from rapidly growing markets eg. India and China as well as general travelers with high income and propensity to consume.
• Creation of integrated tourism infrastructure eg airport combination with marinas, commercial activities, hotels and holiday leisure homes.
• Further development of the cruise industry.
• Limiting shadow economy (unfair competition, loss of tax revenue ~ 270 mil.
• Effective management of NPLs in the tourism industry which in turn will allow:
release of resources from non-productive sectors,
effective restructure of non-viable enterprises,
enhancing competition,
further strengthening of new credit to viable firms in the industry,
accelerating decline in borrowing costs.
• Effective operation of European funds NSRF 2014-2020, program Juncker etc with Eurobank already processing a series of initiatives in this direction.
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