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Published on : Friday, October 13, 2017
As per a study made by the Grant Thornton for the Hellenic Chamber of Hotels, from the onset of 2018, the imposition of the “stayover levy” will create a major blow to the competitiveness of the Greek tourism product, their pricing along with quality and employment.
In the medium term, the failure in terms of the taxes which will be estimated on the basis of the number of overnight stays at accommodation units is anticipated to come to 435 million euros annually. This would be more than five times the annual profit of 84 million euros which would be collected by the state. Besides, it has also been calculated that the tax would offer the sector with 6,174 job opportunities.
Even though the tax will not surpass 4 euros on per room per night basis, however it will pressurize the final prices if passed to the customers or increase corporate expenditure if absorbed by the hotels. In a competitive world market where the internet allows for instant comparison of prices, each euro makes a difference, as the officials said.
The head of the chamber, Giorgos Tsakiris, has urged the government to amend its decisions in terms of taxes, branding it “destructive,” whereas the president of the Greek Tourism Confederation (SETE), Yiannis Retsos, cautioned that the geopolitical conjuncture will not be positive all the time and it may then “be too late” for changes.