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Financial Crisis Hits Greek Yachting Sector

The Hellenic Professional Yacht Owners Association stated that the yachting sector was facing extinction as it is suffering the worst year in its history due to the economic crisis.
Speaking to ANA-MPA, President of the Association Antonis Steliatos said reservations for professional yachts with crew were down more than 80% this year compared with 2009; with eleven vessels out of commission because of reduced demand.
Reservations for sail boats are also down with revenues suffering a sharp fall this year; although no specific figures could be provided since there is no single charter policy in the sector.
The Association said that Greece lacks the necessary numbers in marinas, while existing infrastructure was not competitive. “Our country has almost 5,000 islands and islets and a coastline stretching for thousands of kilometres. It is unacceptable that Croatia with 1/10th of the Greek coastline has 108 modern marinas and Turkey has a better network of marinas than Greece,” Steliatos stated.
According to official figures, Greece has nineteen organised marinas and another twelves under construction with an overall capacity of 6,661 vessels.

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