ECONOMY

Most tourism companies 
will fold without support, says SETE

most-tourism-companies-will-fold-without-support-says-sete

Tourism bookings for the period up to the end of May are certain to see a slump, the president of the Greek Tourism Confederation (SETE), Yiannis Retsos, stresses in an interview with Kathimerini.

He warns that Greek tourism enterprises are experiencing unprecedented conditions, and without any support from the state or the banks, the majority of them will go out of business, while stressing that the US decision for a 30-day ban on travel to Europe has significantly aggravated the situation.

Retsos does hope, however, that due to the extraordinary conditions, the European Union will make its rules regarding state subsidies more flexible.

“If the good scenario proves correct, the first half of the year will be difficult, [but] in the second half there will be a notable recovery,” the head of SETE predicts.