In spite of growing inbound tourist numbers to Greece, the revenues accruing from the industry are on the decline. A record seventeen million visitors have crowded Greece which is an 8.8 percent increase from the same period last year. But the revenues collected have gone down from more than nine billion Euros to less than eight and a half billion. Tourism consulting provided by the Association of Tourism Enterprises (SETE) claims that decrease was due to increased taxes. Tax privileges have been cut this year on popular islands such as Rhodes, Naxos, Paros, Santorini and Skiathos. The VAT has now gone up from seventeen to twenty four percent. Another reason stated has been the fact that lots of tourists are making last moment reservations in order to take advantages of lowest accommodation or transport prices.

Source:http://www.tourism-review.com/greece-tourism-faces-decreasing-revenues-news5175