ECONOMY

Tourist arrivals falling despite drop in euro

Fewer and fewer tourists are visiting Greece as estimates point to a second year of decline in tourism arrivals to the country. Nikos Angelopoulos, vice president of the Association of Greek Tourism Enterprises (SETE), said the drop as a percentage over last year in arrivals from Germany is in the double digits (i.e. at least 10 percent) and is up to 10 percent from Britain, despite a 20 percent fall in prices compared with June 2009. This means that the drop in turnover will be even greater than that of arrivals. Virtually all markets related to Greek tourism are posting a drop, even though the euro has been falling, to the benefit of tourists from outside the eurozone.