ECONOMY

Hoteliers absorb VAT hike on tourism accommodation

hoteliers-absorb-vat-hike-on-tourism-accommodation

Greek hoteliers appear to have absorbed the hike in value-added tax from 6 percent to 13 percent this month, the first of the measure’s application, as data by online travel agency Trivago reveal.

The average online rate for a double room in a Greek hotel this month amounts to 100 euros per night, compared with 101 euros per night in October 2014.

This means Greece is actually cheaper for tourists than Spain (whose average rate stands at 133 euros per night) and Turkey (107 euros/night).

In Athens, the rate stands at 114 euros/night this month, up 9.6 percent from a year earlier, but is still below that of rival city destinations such as Madrid (146 euros/night) and Lisbon (128 euros/night).