ECONOMY

Yachting tourism dives in 2012

Yachting tourism has suffered huge losses this year in Greece, as sector representatives told the 20th general meeting of the Association of Greek Tourism Enterprises (SETE) this week that bookings have dropped by as much as 50 percent compared to last year.

Bookings from abroad have declined considerably owing to the political and economic instability in the country, with the flow of new hotel bookings since the May 6 general election shrinking by as much as 30 to 50 percent, depending on the destination, the meeting heard.

Booking cancellations have even been recorded in five-star hotels.

Hoteliers in Athens have reported a 35 percent drop in bookings since the elections.