The tourism industry has been one of the main reasons behind the recovery of the Greek economy. Since 2013, the number of foreign visitors has increased each year, with Germany being the largest source for inbound travelers. In spite of this centrality of the tourism industry to Greek economy, it is taxed heavily. Now in addition, a new “sleeping tax” for overnight stays is expected to further rise to the costs of travelers. Business intelligence provided by Grant Thornton has pegged the expected revenues from this new tax at around 160 million euros. While Greece has experienced a rise in tourism revenues, this is not something that can be taken for granted in the wake of the recovery in numbers at former giants Egypt and Turkey. Both these countries saw a dip due to security threats but are now bouncing back handsomely.

Source:https://www.tourism-review.com/high-taxes-threaten-greek-tourism-news10495

Uploaded Date: 12 March 2018