GNTO Cuts Costs To Control Budget Deficit

The Greek National Tourism Organization’s expenditures in the first half of the year were cut by 55 percent to some 51 million euros compared with the same period last year, the organization said last month.

The GNTO released economic figures that showed significant reductions in the organization’s operating costs in relation to previous years.

Specifically, the organization said it had renegotiated the cost of renting its two main premises in Athens. The rent for the property on Tsoha Street has been reduced by 30 percent and the building on Amalias Avenue has been reduced by 43.5 percent.

The GNTO said the total financial benefit from these rent reductions is some 539,000 euros per year.

The organization also cut spending on office supplies by 66 percent, cleaning bills by 14,47 percent and phone expenses by 20 percent.