ECONOMY

SETE wants subsidies to tourism for the first six months of the year

sete-wants-subsidies-to-tourism-for-the-first-six-months-of-the-year

Tourism is set for more uncertainty due to the delays in vaccinations around the world and the continuation of the pandemic, Yiannis Retsos, the head of the Greek Tourism Confederation (SETE), warns in an interview with Kathimerini.

He estimates this year’s target of reaching 50% of the record takings of 2019 appears optimistic at the moment – to say the least – and stresses the need for the application of aggressive policy tools such as the temporary reduction of value-added tax on accommodation and the tourism package in order to boost competitiveness.

He goes on to argue that tourism will still require support throughout the first half of the year and asks for the implementation of a broad investment program for the upgrading of obsolete infrastructure at many destinations, as the day after the pandemic will bring major challenges for the sector in what is expected to be a fiercely competitive environment.

In the medium term, Retsos anticipates more market restructuring and new investors, and the creation of larger groups in the sector. He also identifies transport as a vital link in the industry, which will significantly determine the course of tourism.