Posted on 04/19/2012 8:37:16 PM PDT by DeaconBenjamin
Revenues from tourism services declined by a considerable 17.5 percent in the first couple of months of 2012 year-on-year, according to data released on Thursday by the Bank of Greece.
This is attributed to the 11.1 percent drop in foreign arrivals in January and February that left even popular resorts such as the old town of Rethymno (pictured) emptier than usual.
There was also a 26.1 percent slump in Greeks’ travel expenditure abroad, the data showed.
The country’s central bank further said that the current account deficit shrank by 44.1 percent year-on-year, dropping from 4.65 billion euros to just 2.6 billion in the first two months of 2012. There was also a net outflow in direct investment, amounting to 305 million euros.
They could go on strike and riot until the tourists come back.
Naw....Greece’s economy started going south in 1978, when my Destroyer made her last visit of a Med Cruise, never to return. Think we kept the Greek government running for a long time just from us buying Ouzo for a few days (and nights) at John Bulls’ joint in Piraeus, outside of Athens.
(They could go on strike and riot until the tourists come back.)
This reminds me of “the beatings will continue until morale improves”! Who knows, maybe eventually even socialist Greeks will figure out that they need some people to make money in Greece before government employees can steal it!
(They could go on strike and riot until the tourists come back.)
This reminds me of “the beatings will continue until morale improves”! Who knows, maybe eventually even socialist Greeks will figure out that they need some people to make money in Greece before government employees can steal it!
Yep. This was a long time in the making, and it ain’t just Greece.
I’d guess Egypt’s tourism has dropped off considerably, too.
Why whould people travel to see rioting mobs when they can see them at home?
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