ECONOMY

Tourism association wants extension of state aid, says earnings estimates were off

tourism-association-wants-extension-of-state-aid-says-earnings-estimates-were-off

The president of the Greek Tourism Confederation (SETE) is asking the government to extend measures such as subsidizing employers’ social security contributions for employees and allowing tourism businesses to suspend contracts.

Yiannis Retsos wants some of the measures extended to late in 2020 and others as far as end-April 2021.

"Our initial estimate of earnings between €4 and €5 billion from international visitors has, unfortunately, been negated by the pandemic developments. We now expect €3-€3.5 billion in 2020," he wrote.

Last year’s earnings were €18.5 billion, with over 31 million arrivals, excluding cruise ship passengers.