SETE: Investments worth 6.5bln Euros needed over next 5 years

18 October 2016
97 Views

The tourism industry has the ability to contribute 43 billion euros to Greece’s GDP by 2021, creating 1 million new jobs directly or indirectly linked to the industry, according to data presented at a conference organised by Greek Tourism Confederation (SETE), Tuesday. SETE President Andreas Andreadis said tourism was ready to turn a new leaf, but added that danger of thousands of small and medium-sized tourist-related businesses vanishing due to policies of over-taxation was a real threat. The data, collected through studies conducted by PWC and REMACO, showed that investments worth 6.5 billion Euros till 2021, as well as the building of new infrastructure by the state and hotel investors were necessary conditions to boost the aggregate revenue generated in the industry. The figures revealed that foreign arrivals in Greece are expected to rise by 35 million until 2021. The President of SETE stressed that although expectations on foreign arrivals had been exceeded, this did not reflect revenues. He added that it was imperative that the Greek government lowered taxes to boost the competitiveness of Greek tourism.

You may be interested

Cyprus and Russia to Sign Seven Bilateral Agreements
GREECE
shares31 views
GREECE
shares31 views

Cyprus and Russia to Sign Seven Bilateral Agreements

Panos - Oct 24, 2017

Seven agreements have been finalized and will be signed on Tuesday between Russia and Cyprus, during the President of the…

Russian Energy Minister says Greece could be destination for Turkish Stream pipeline
FINANCE
shares40 views
FINANCE
shares40 views

Russian Energy Minister says Greece could be destination for Turkish Stream pipeline

Panos - Oct 24, 2017

Russian Energy Minister Alexander Novak left open the prospect of the construction of a second pipeline of the Turkish Stream…

Greek Actress: “Harvey Weinstein Wanted Me Deported from the US Because I Said No”
ART
shares47 views
ART
shares47 views

Greek Actress: “Harvey Weinstein Wanted Me Deported from the US Because I Said No”

Panos - Oct 24, 2017

Vana Barba, a well-known and popular actress in Greece, has revealed that her refusal to attend a private dinner with…

Leave a Comment

Your email address will not be published.