OAED: Scheme to Secure Jobs for Greek Tourism Businesses after Thomas Cook Ruin

Greece’s Manpower Employment Organization (OAED) announced this week one more support measure for Greek tourism professionals affected by the ruin of Thomas Cook.

OAED said it would immediately launch a program to retain 4,500 full-time jobs by subsidizing employer contributions for tourism businesses. The decision has been tabled to the labor ministry.

Earlier this week, OAED also announced the extension of unemployment benefits for all tourist affected businesses.

According to an Institute for Tourism Research and Forecasts (ITEP) survey released this week by the Hellenic Chamber of Hotels, the collapse of Thomas Cook is expected to cost the Greek hospitality sector an estimated 315 million euros.

More specifically, of Greece’s 9,917 hotels, 12 percent (1,193) held partnership deals with the Thomas Cook Group in 2019, 48 percent of these were in the 1-, 2- and 3-star categories, and areas mostly affected were the South Aegean and Ionian island destinations, and Crete.