Surveys, Trends & Stats Eurobank: Brexit Could Affect Greece’s Tourism Industry by GTP editing team 13 April 2017 written by GTP editing team 13 April 2017 1 comment Share 0FacebookTwitterLinkedinWhatsappEmail 9 Photo source: Pixabay The Brexit process could have an impact on Greece’s tourism industry, Eurobank said in a recent report. On March 29, UK Prime Minister Theresa May triggered Article 50 of the Lisbon Treaty and officially launched procedures for Britain’s exit from the EU. Eurobank underlined that the travel ability of Britons may be affected by a decrease of income, combined with the increase of inflation and a possible downgrade of the pound against the euro. Furthermore, Eurobank estimates that procedures and the cost of traveling abroad may change for the British, for example in case a visa is required for traveling abroad. Eurobank’s report underlines that the UK market remains a “main source” of tourists for Greece. The shipping sector may also be affected due to a drop in demand for shipping services, especially if a severe disorder occurs on international trade. Eurobank’s report also focuses on commerce and exports, noting that a hypothetical decrease of Greece’s exports to the EU countries by 1 percent, would result in a decrease of Greece’s GDP by 0.15 percent (and vice versa). A deterioration in the forecast of other EU economies would negatively affect Greece’s commercial flows. Greece could also lose EU funds, in case the European Union’s budget is decreased. According to Eurobank, funds allocated through the EU Common Agricultural Policy and other European structural programs to Greece are estimated at a total of 35 billion euros for the 2014-2020 period. This figure may decrease due to the Brexit. Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. Share 0 FacebookTwitterLinkedinWhatsappEmail GTP editing team This is the team byline for GTP. The copyrights for these articles are owned by GTP. They may not be redistributed without the permission of the owner. previous post Urban Renewal Priority for Piraeus, Aiming for Tourism next post Kountoura: 2017 will be the Best Year in the History of Greek Tourism You may also like Greece’s Hotel Market Sees Major Investments Over Four Months 5 February 2025 Greek Tourism Ministry Monitors Santorini Situation as Seismic Activity Continues 5 February 2025 Global Air Passenger Demand Reaches Record High in 2024, IATA Reports 5 February 2025 Greek PM Reassures Public About Santorini’s Ongoing Seismic Activity 5 February 2025 Milos: Ministry Suspends 5-star Hotel Construction Near Sarakiniko Beach 5 February 2025 ELIME and HELMEPA Join Forces for Safer, More Sustainable Greek Ports 5 February 2025 1 comment Joyce Kirkham 18 April 2017 - 11:26 Typical scaremongering. I think the British don’t come to Greece based on cost – there are cheaper countries for our holidays. Just goes to show that the Eurobank don’t know the British very well and that we will continue to support the Greeks in this way. Reply Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ
