Greece: Last Minute Bookings May ‘Pay’ Brexit Price

The president of the Greek Tourism Confederation (SETE), Andreas Andreadis, expects final minute bookings to Greece to be affected from the UK’s vote to depart the European Union.

Talking to a Greek tv station over the weekend, Mr Andreadis stated that over 2.5 million British vacationers had visited Greece final 12 months, leaving some two billion euros to the nation in income.

“Provided that the worldwide and European economic system could be very numb proper now, it’s sure that the speed of final minute bookings will drop”, Mr Andreadis stated and really useful for tourism professionals to stay calm.

The UK is the second strongest customer marketplace for Greek tourism after Germany.

In keeping with current information, through the January-April interval, the arrivals of British vacationers to Greece elevated by 9 %, exceeding 206,000. In the course of the first 4 months of the 12 months, British vacationers spent over 105 million euros whereas on vacation in Greece.

In keeping with Greek each day Kathimerini, the variety of bookings from the UK marketplace for vacation in Greece this 12 months is at the moment behind by some 500,000 so as attain final 12 months’s end result within the degree of arrivals from Britain. Now with the autumn in worth of the pound and the additional price for British vacationers it’s unsure if the remaining bookings can be coated.

Because the Affiliation of British Journey Brokers (ABTA) has identified, following the end result of the UK referendum, of rapid concern is the affect {that a} interval of uncertainty could have on the energy of the Pound versus different currencies.

A weaker Pound has a direct affect on spending energy abroad, making the price of holidaying or visiting overseas dearer, in addition to including prices for UK companies to purchase overseas.

In keeping with ABTA, over 29 million overseas holidays annually are made by UK holidaymakers to EU nations, equating to 76 % of all holidays taken. Moreover, 68 % of all enterprise journeys from the UK are to EU nations (4.6 million enterprise visits).

There are at the moment many EU rules which were designed to learn holidaymakers and enterprise travellers. Though these rules is not going to change instantly, Brexit is anticipated to have a big affect sooner or later. Present rules embody: monetary safety for package deal holidays, compensation for flight delays, entry to free well being cowl by means of the European Well being Insurance coverage Card, caps on cell phone prices and “open skies” throughout the EU, leading to extra routes, extra airways, and decrease fares