Kreta - Predictions for Greek tourism

Predictions for Greek tourism

data_2020-04-16 19:24:13 2020-04-16 19:24:13

All economic experts agree that the current restrictions on doing business will have a direct impact on the economies of most countries in the world. It is also out of the question that in the near future an economic crisis awaits us, whose genesis will originate not as in 2008 from banks, but from failing entrepreneurs. Some economists point out that the upcoming economic downturn is to be particularly felt in countries for which tourism is particularly important. Unfortunately, Greece is also among those countries. According to various estimates and scenarios, this year's Greek GDP may shrink by as much as a dozen or so percent.

This is what Chania streets looked like in the 2019 season

When and how?

It should not be surprising that many representatives of organizations of entrepreneurs operating in the tourism industry in Greece are already wondering how to minimize the effects of the coming crisis. Of course, one of the ideas is to put an end to restrictions as soon as possible and to a certain extent opening up to the world. It is worth remembering, however, that this approach is far from the assumptions of the tourism industry itself, which itself realizes that the safety of local communities and foreign visitors visiting them is in the foreground.

Dimitros Koumbarakis, president of the Hotels Hotels Association in Crete, in an interview with the newspaper Nea Kriti, made it clear that the scenario in which this year's tourist season will start in mid-July is practically impossible to implement. In his opinion, such a development is supported even by the fact that effective therapy for coronavirus treatment has not yet been developed. It is also important that there are currently no 100% effective rapid tests available that would allow catching sick people at airports. He points out that without these two measures it will not be possible to open the tourist season, and 2020 may be one of the most difficult years for Greek tourism.

Mr. Koumbarakis in his conversation with Nea Kriti also emphasized that the crisis affecting the tourism industry would also become a source of problems for many other entrepreneurs indirectly related to this sector of the economy. Even the most optimistic scenarios assume that this year's value of revenues generated by Greek tourism will be lower by about 50-60%. The lack of foreign guests will mean a limited demand for many services and goods. Already today many farmers have problems selling their fruit and vegetables, which in previous years were bought by hotels and small and large gastronomy.

Of course, the chain of economic dependencies is much longer and, in a broader perspective, most companies will probably be affected in one way or another. Every entrepreneur whose revenues will be significantly reduced will have to cut the costs of his activity. Unfortunately, the obvious consequence of such actions will be reduction of employment and reduction of orders for products and services provided by other enterprises. And thus the problem of reducing revenues will affect more and more companies whose activities are not directly related to tourism. The economy overwhelmed by such an economic crisis will certainly also be a source of trouble for the central budget. Such a strong recession will certainly not affect state revenues. In such a scenario, a reduction in wages and pensions seems inevitable. And yet Greece has not yet recovered from the previous crisis.

Employment insecurity

Nikos Kokolakis, president of the Heraklion Prefecture Hotel Workers' Association , pays special attention to people employed in the tourism industry. From his point of view, the growing unemployment vision raises particular concerns. As he says, he receives a lot of calls every day from people who are unemployed due to the ban on hotels. Each of these people asks whether and when they find any employment, whether the payment of benefits available under the unemployment fund will be extended. Nobody today is able to answer their questions when, where and which hotels will be opened this year. Everyone lives in uncertainty about their future. There are even demands that this year the tourist season be extended to very late autumn.

Greek companies in statistical terms

The fact that the economic situation in Greece and Crete is difficult at the moment can be proved by the statistical data on the number of companies that have recently suspended their activities. On a national scale, this situation affects over 200,000 enterprises (less than 15% of the total). At least one million employees were employed in these companies. The turnover of companies that suspended their operations in February (i.e. definitely out of season) amounted to about € 1 billion, including about € 32.5 million of the value of activities and production exported outside Greece.

About 16.5 thousand have suspended operations in Crete so far. enterprises employing a total of less than 84 thousand employees. Unfortunately, this situation means that currently as many as 1/3 of previously employed people may be facing the problem of unemployment in the near future.

Piotrek,

2020-04-16 19:24:13

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Joanna Gumienna- Zalewska

2020-04-16 18:08:45

Crete tourist guide

Predictions for Greek tourism

When and how?

Employment insecurity

Greek companies in statistical terms

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