ECONOMY

Tourism forecasts are pessimistic

The Institute of Tourism Research and Forecasting (ITEP) suggested yesterday that the prospects for Greek tourism in 2010 are not at all positive, stressing that the uncertain financial climate will require a qualitative and not quantitative approach. ITEP expects this year to be as tough as last year, if not even tougher, as far as tourism is concerned. Already there is a 10 percent reduction in bookings from Germany and a 7 percent drop in reservations from Britain, attributed mostly to Greece’s negative exposure in the media. The rise in bookings from other markets – Russia has reported a 20 percent increase – does not offset losses from the traditional markets, although the sector is hoping for more last-minute reservations.