Greek Tourism Federation Head Projects Possible 7% Growth For 2017

Rise in tourism revenue

GTP (Greek Travel Pages) quotes SETE (Greek Tourism Federation) chief Andreas Andreadis in a recent interview with Reuters as saying there will be as much as €1 billion in additional revenue from the Greek tourism sector in 2017.

SETE is the largest tourism body in the country, representing over 50,000 business related to the Greek tourism industry.

In the Tuesday interview Mr. Andreadis estimated a rise in tourism revenue from 2016's €13.2 billion, which was down 6.2% from 2015, to €14.5 billion in 2017, significantly boosting the ailing Greek economy.

But the prediction came with a number of caveats, including the Greek government's successful navigation of ongoing bailout talks, the ongoing migrant crisis, and a quiet relationship with neighboring Turkey, which itself is experiencing domestic unrest.

One reason for the drop in revenues last year was the migrant crisis, which forced many hoteliers to cut prices significantly despite a record number of arrivals, Mr. Andreadis said.