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Trends in the tourism industry in Greece

Tourism is a significant industry in many countries. This includes Greece. Many different kinds of businesses in Greece are tied in some way to this industry. So, Greek Americans who own businesses in Greece may very well find themselves connected to this industry. Given this, what’s happening regarding tourism in Greece could have significant implications for such business owners.

Recent statistics point to 2016 being something of a mixed bag for the tourism industry in Greece.

On the potentially positive side, tourism might be up in the country. According to data from SETE, a Greek tourism organization, the January to September period of this year saw a 7.6 percent increase in international arrivals to the main Greek airports as compared to the same period in 2015.

However, despite this, it is predicted that tourism businesses in the country will be seeing losses again this year. There are a couple things SETE is pointing to as being responsible for this.

One are price trends. The prices charged by Greek tourism businesses have been down lately. These lowered prices are among the things that are being pointed to as spurring the increase in arrivals. However, reduced prices for tourists can also cut into the bottom lines of tourism companies.

Another thing SETE claims is driving tourism businesses towards losses despite the increase in international arrivals are taxes.

As this illustrates, there are a fair amount of challenges businesses in the tourism industry are facing these days in Greece. In addition to the general challenges connected to this industry, Greek American owners of businesses in this industry can also face challenging legal matters related to their business’ operations. As with any business challenge, how such legal difficulties are responded to can have significant implications. So, when facing complicated legal issues in relation to a tourism-related business they have in Greece, Greek American business owners may want to seek out experienced legal guidance on navigating U.S-Greek business law matters.

Source: Greek Reporter, “International Tourism to Greece ‘Soared’ in 2016,” Kerry Kolasa-Sikiaridi, Oct. 14, 2016

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