Greek hotel industry does not face a danger of losing its national identity, Andreas Andreadis president of Greek Tourism Confederation (SETE) told reporters in a press conference on the occasion of the termination of his tenure at the helm of the confederation.
Andreadis said that Greek hotels’ total bank debt is estimated at 7.2 billion euros, of which 3.6 billion were non-performing and noted that around 600 million euros of NPLs have been rescheduled. He stressed that the tourism sector was not indebted compared with its annual revenue of 13 billion euros and its outlook for the domestic economy, while he said that from the sector’s non-performing loans around 1.0 billion euros represented debt of five over-indebted large tourism enterprises.
He also noted that tourism is now recognized by society as the most potent pillar of the Greek economy.
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
