Latest News
HomeRegional NewsEuropeGreek tourism outlook flat
Tourism prospects for 2010 were not favourable Greek ITEP says

Greek tourism outlook flat

Greece’s Tourism Research and Forecasts Institute (ITEP) on Monday said tourism prospects for 2010 were not favourable as a volative and uncertain economic environment was leaving no room for quantitive but for quality approach in the industry. ITEP, in a report, said 2010 would be the same -and even more difficult- compared with the previous year, with early reservations figures negative so far.

Reservations from Greece’s traditional tourism markets, Germany and the UK were down 10 pct and 7.0 pct so far this year, reflecting negative comments by foreign media over the country’s situation. However, the country was getting positive messages from the markets of France, Italy and Eastern Europe (Russia, Ukraine, etc). The Institute said it expected last minute reservations to rise this year, but stressed these could be unable to counterbalance the sector’s huge revenue losses. Generally, ITEP expected incoming tourism to be around last year’s levels, or to rise slightly.

Domestic tourism was also expected to fall this year, since the cost of living has risen significantly and wages were cut as part of a government austerity program. Greek consumers were expected to cut their holiday costs and to resort to last minute reservations hoping to achieve better prices. ITEP said the government should offer significant support to the tourism sector to help in minimizing its losses.