Travel industry going nowhere

Travel agencies and similar enterprises suffered a 35.3 percent decline in turnover last year, compared with 2010, according to a report by the Hellenic Statistical Authority (ELSTAT).

This followed a drop in 2010 that had amounted to 24.5 percent year-on-year and another in 2009 that had come to 9.9 percent, after growth in the 2006-08 period. With the ELSTAT index for the industry taking 2005 as the base year, at 100 points, it came to 61.9 points last year after climbing to 140.5 in 2008.

As the recession is bites ever deeper, the industry saw its turnover shrink by 41.3 percent in the last quarter of 2011 on an annual basis, after declines of 30.3 percent and 33.4 percent in the second and third quarters of the year respectively.

The transport sector posted a much smaller decrease, with land transport losing 1.7 percent, maritime transport shedding 2.7 percent and air transport flying 0.9 percent lower.

Logistics and supporting activities saw turnover contract by 7.9 percent, the ELSTAT data showed.

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