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Ninety percent of tourism revenue stays in Greece

Around 87 pct of total incoming tourist revenue stays in Greece, a survey by the Centre of Planning and Economic Research (KEPE) said on Tuesday.

The survey, drafted for the Institute of Greek Tourist Enterprises Association (SETE), noted the importance of tourism in national and local economies. The survey showed that in 2014, a 13.2 pct of total incoming tourist revenue (excluding sea cruises) was transferred abroad (or 1.92 billion euros from a total 14.5 billion). Including sea tourism spending, this amount totaled 1.96 billion euros out of a total 15.2 billion euros in tourism revenue last year. The percentage of revenue leaked abroad was 13.3 pct for hotels (978 million euros).
The survey said that tourism was one of the basic sectors of Greek economy, ranking eighth in a total of 64 sectors. It also noted that the sum of tourist revenue remaining in Greece allowed for the support of a series of policy actions towards a stable and sustainable tourist development in the country.
SETE recommended, among others, changes of an institutional nature, such as adopting final standards and certifications of Made in Greece products, promoting vertical production of processed agricultural products, more favorable financing terms and planning of specially-designed all-inclusive packages with a specified percentage of consuming local products.
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