ECONOMY

Croatia tourism cashes in on Greek crisis

Tourists enjoy a view of the famous Adriatic resort of Dubrovnik, Croatia, in this file photo. The Balkan country’s tourism sector is reaping the benefits of the Greek crisis this summer, as it has pushed tourists northward, according to local experts. ‘Many travelers have probably avoided Greece this summer, adding to Croatian profits,’ Zdeslav Santic, an analyst at Splitska Banka, told Bloomberg. Violent street protests and continued strike action have hurt Greece’s image as a tourism destination. Deputy Tourism Minister Giorgos Nikitiadis recently admitted that tourism revenues, a key source of income for the economy, will be between 7 and 9 percent lower in 2010 than in 2009, despite visitor numbers being roughly at last year’s levels. Tourism accounts for about 18 percent of the Greek economy and one in five employment positions.