The global financial crisis and its consequences to the real economy will not leave the tourism sector untouched. The forecasts for the Greek tourist product are not good. The five countries, which feed the Greek tourist market with more than 50% of its tourists are Great Britain, Germany, USA, Italy, and France are expected to have negative development rhythm during 2009. Together with the fall of the British pound and the US dollar in the past years, the news is not good.

“The consequences from the economic crisis will be felt by the tourist firms and by the consumers and this will affect the internal tourism as well. The international crisis will act as a stamina test for the Greek economy. The next 15 months will be of great importance. I believe that for 2009 there are two scenarios – either development increase a little bit bigger than 2% or collapse,” says Gikas Hardouvelis, instructor in the Pieria University and economic advisor in Eurobank at a meeting of the Institute for Tourism Research and Forecasts named “International economic crisis: consequences and opportunities for the Greek tourism.”

According to him in order for the first better scenario to happen, firstly the loans of the firms and households need to get out of its immobility state. Second – the government investments need to increase ot in other words the fiscal policy needs to become wider, and third the market needs to stabilize so it will not concentrate on the big unbalance of the Greek economy. The Ministry of Tourism Development together with the Ministry of Economy and Finance announced that they will come up with a program for the tourism support in 20 days.

Minister of tourism development Aris Spiliotopoulos met with representatives of tourist associations and chairmen of the Greek hotels. At the meeting the minister said that he is planning a strategy for attracting low cost airline companies in order for the tourist flow to keep stable. The measure includes financing jobs in seasonal firms but also all companies, which work all year round with 25% of their personnel for April and May. The program of the Organization of Workers Apartments is expected to increase from 450 000 to 650 000 people. The amount given to tourist boarding houses will increase as well.