New model of production is required


TAGS: Economy

The coronavirus crisis must be the catalyst for Greece to follow a new, healthy model of production, top officials of the Economic Chamber of Greece (OEE) agreed on Tuesday at the presentation of the chamber’s study “The Effects of the Health Crisis in the Greek Economy and Proposals for the Day After.”

Manufacturing needs to be a national priority for the country to escape the single-mindedness of tourism, noted economics professor Nikos Christodoulakis, who also argued that the decade-long financial crisis “strangled the production capacity of the country.” 

He stated that a total of 80 billion euros left the country in the last decade and that Greece was unique in being a country in recession that cut down on public spending.

Fellow professor Dimitris Lagos underscored the need for tourism to increase its quality features and for alternative forms to be developed further.

He added that if Greece manages to collect about 30% of regular annual tourism revenues, or 5 billion euros, this would constitute a success, arguing that the emphasis ought to be placed on domestic tourism.