At least one sector in the Greek economy has improved its performance over the last 12 months, as Greece climbed seven spots in the World Economic Forum’s Tourism Competitiveness Index for 2017.
Greece this year ranks 24th among 136 countries, earning 4.51 points out of seven (with 7 being the top mark). Still, it ranks below three rival European countries (Spain, Italy and Portugal) but above Cyprus and Turkey.
The WEF report highlights the negative impact of Greece’s low charges on the country’s tourism revenues, although the low cost of holidays in this country has brought it up to 22nd spot on this criterion, one of Greece’s comparative advantages.
The report says the rise of Greece from 31st to 24th position has been “impressive” and is attributed to the country’s “excellent efforts to make the most of its natural resources,” the reduction in accommodation prices for foreign tourists and the drop in airport charges. On the negative side there is the lack of incentives for foreign direct investment and tourism enterprises’ low degree of technological readiness.