Trade Associations - Gov Turkish Lira Slide May Impact Greek Tourism, Exports by GTP editing team 24 March 2021 written by GTP editing team 24 March 2021 0 comments Share 0FacebookTwitterLinkedinWhatsappEmail 14 The fall of the Turkish lira this week is expected to impact Greek tourism and exports, said Union of Hellenic Chambers President Konstantinos Mihalos, adding that the shock on global financial markets will also lead to insecurity in the already volatile region. “The collapse of the Turkish lira in recent days has led to explosive losses in the Turkish economy, in general, but without a doubt leaves the world economic community and especially the EU with which it neighbors exposed,” said Mihalos. The Turkish lira sunk 15 percent on Monday after President Tayyip Erdogan unexpectedly dismissed the central bank governor Naci Agbal and installed Sahap Kavcioglu, the third in this position since 2019. The union’s president said the lira’s decline will have a negative effect on the Greek tourism sector in particular as travel to Turkish destinations will be comparably cheaper. Union of Hellenic Chambers President Konstantinos Mihalos. Photo source: uhc.gr At the same time Greek companies that import raw materials and products from Turkey, stand to be favored as they will be able to buy cheaper due to the fall of the euro-lira exchange rate, said Mihalos, adding however that export firms will face problems. Greek exporters will become non-competitive due to the declining prices of Turkish products on international markets. He also referred to Greek interest enterprises based in Turkey which are bound to benefit from the Turkish lira slide. The union’s president stressed that the unrest caused by Erdogan’s decision “will lead to insecurity in the volatile geopolitical region”. Join the 15,000+ travel executives who read our newsletter 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 UK’s PM Aiming to Give Update on International Travel in April next post Tourism Revenue in Greece Down 90.9% in January 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 Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ