Greece expects to recover its economy via tourism

Published on : Tuesday, August 29, 2017

GreeceGreece’s economy has been trying to resurface for the last seven years, after being immersed into an unprecedented recession, resulting to hundreds of thousands of businesses being destroyed and job losses.

 

The only hope for the Greek economy lies in becoming attractive to foreign investment; something that is yet to happen. However, tourism is a sector that has been booming, becoming more competitive and effectively spearheading the stabilization and gradual recovery of the Greek GDP.

 
In a report titled ‘Greek Tourism Developments and Prospects’, the Greek Tourism Confederation (SETE) confirmed the export reorientation of the Greek economy, through tourism.

 
For the past five years, Greece has witnessed up to nine million more tourists – not counting cruise ship arrivals – bringing the country to 14th place on the UNWTO list for 2016, from the 17th place.

 
Cruise arrivals in Greece are projected to increase 20 percent compared to last year due to geopolitical uncertainty in the SE Mediterranean; this number means that total arrivals should exceed 28.5 million.

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