Autumn Tourism in Greece to Yield More Than 3 Billion Euros



international-tourism-athens-afp-1810The snap elections announced mid-August in Greece have caused great concern across the country. However, Association of Greek Tourism Enterprises (SETE) president Andreas Andreadis believes that the country’s tourism sector will continue to grow if the election results in a strong government.

The election will take place during a critical time for the tourism industry. According to SETE, the revenue for the fall period is expected to reach 3.2 billion euros, while more than 5 million tourists are expected to arrive in Greece in September and October, as well as another million in November and December.

“If elections run smoothly, the Greek tourism industry will achieve its record 2015 goal of 25 million tourists and generate 14 billion euros for the economy. This is despite the disruption of January’s elections, the referendum and delays in reaching an agreement with the country’s creditors, which led to capital controls and September’s snap elections,” noted a recent article in Greek newspaper “Kathimerini.”

Andreadis also noted that the election is taking place at a time when several major issues concerning the tourism industry development are still on hold, such as the investment law. He stressed the need for rules that will distinguish tourism businesses from ordinary urban leases, noting that a failure to do so would result in several businesses taking short-term urban leases that are only subject to income tax, causing further problems of tax evasion and illegal operations.