Greek tourism sector fragile after failed Turkey military coup

thumb_Screen Shot 2016-07-26 at 9.54.37 AM_1024

Greece may be an alternative option for people who are now too scared to holiday in Turkey after the failed military coup, however overall growth in the tourism sector remains fragile, according to the Greek tourism association SETE.

Greece now more than ever is relying on summer holiday makers to visit their popular islands- in order to help boost the economy. Tourism accounts for about 17 percent of its 185- billion -euro economic output and employs one in five people in work.

“Turkey’s share of last-minute arrivals will shrink and it will probably suffer cancellations. Greece will gain a share, even if it is a small one,” says Andreas Andreadis, head of Greek tourism businesses association SETE.

However, Andreadis could not rule out a negative impact from Turkey’s situation, which could also see a decline in Greece’s tourism numbers.

“We don’t like the fact that Turkey is destabilised, it could also affect Greece. We are not happy about this,” he said.

SETE previously estimated a 5 percent rise in tourism revenues for 2016 to 15 billion euros on the back of 25 million tourists, up from 23.6 million last year- however this estimate now relies on last-minute arrivals.

GCT Team

This article was researched and written by a GCT team member.