(Greece) Tourism bookings are nosediving

http://www.ekathimerini.com/198811/article/ekathimerini/business/tourism-bookings-are-nosediving



Tourism bookings are nosediving
STATHIS KOUSOUNIS
BUSINESS 01.07.2015 : 23:36

The government’s decision to call a referendum, shut banks and default on its payment to the International Monetary Fund are taking a toll on Greek tourism, professionals warned on Wednesday.

Andreas Andreadis, the head of the Association of Hellenic Tourism Enterprises (SETE), said that hotel bookings are down 50,000 a day due to the recent developments in the country. Given that last-minute bookings account for 20 percent of the year’s tourism traffic, the blow is expected to be severe for Greek tourism, with knock-on effects on employment if those bookings are lost for good.

Furthermore, there is a growing wave of cancellations at Athens hotels, while bookings from Greeks have dropped to almost zero.

Andreadis said the activation of Target 2 – an interbank payment system for the real-time processing of cross-border transfers throughout the European Union – would be vital as it would facilitate transactions with other countries and allow for essential imports, meaning that catering facilities at accommodation units would be able to operate. He went on to warn that food and drink stocks will only suffice to cover hotels’ needs for one more week.