ATHENS, May 14 (Reuters) – Greece’s key tourism industry sees revenues dropping 7-9 percent this year, making it even harder for the debt-choked country to pull itself out of a crisis that has rocked markets worldwide.
“We’ll see a big drop in revenues because prices are down … At the moment we expect a 7 to 9 percent drop,” said Andreas Andreadis, head of the Hellenic Hotel Federation and Vice President of Greece’s Tourism Enterprises.
Tourism accounts for nearly a fifth of Greece’s output and is a main driver of its 240-billion-euro economy. How it fares is crucial for the recession-hit economy and its capacity to exit the debt crisis. (Reporting by Ingrid Melander)