Piraeus Chamber Wary of Brexit Backlash on Greek Tourism, Trade

The dwindling price of the British pound and the potential of imposed customs duties could influence overseas commerce between Greece and the UK, resulting in a possible lack of some 2.3 billion euros and of two billion euros in tourism, the Piraeus Chamber of Commerce and Trade (PPCI) warned not too long ago referring to the Britons’ resolution final week to exit the EU.

The British market is the seventh most necessary vacation spot for Greek merchandise, whereas Britain is Greece’s 14th largest provider. In keeping with an evaluation by the Exports Analysis Heart (KEEM), the overall worth of Greek exports to the UK in 2015 got here to 1.07 billion euros, with a optimistic progress price of two.1 % within the final 5 years (2011-2015).

The PPCI additionally notes that the UK’s exit from the EU will instantly have an effect on the very giant neighborhood of Greek college students, guests and resident staff who’re shoppers of Greek exports and who additionally contribute significantly to each the Greek and UK economies.

On the similar time, in response to EVEP, 0.3 % of the shares on the London Inventory Change are Greek owned, whereas quite a few Greeks have sturdy ties to the British banking system.

“Brexit could mark the start of the collapse of the European edifice and  the sturdy emergence of eurosceptic and anti-European forces,” EVEP President Vassilis Korkidis stated.