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SETE: 'Increase in Taxes Hurt Greece's Touristic Competitiveness'

SETE-reportThe Association of Greek Tourism Enterprises (SETE) has estimated that the additional taxes imposed over the last 12 months, have reduced Greece’s competitiveness in the sector of tourism by 10%.
This was revealed in the first issue of a new series of studies conducted by SETE Institute entitled: “Greek Tourism – Developments & Prospects.” The additional charges have eliminated the 50% recovery of Greece’s competitiveness that was achieved since the beginning of the bailout era. The excessive tax burden still plays a negative role in the development of tourism and the economy in general, both directly and indirectly. As a result the competitiveness gains for Greek tourism, resulting from internal devaluation, are substantially offset by the excessive tax burden.
SETE’s study also referred to the sector’s future after the Brexit noting that given the outcome of the British referendum, arrivals and revenues are expected to be affected negatively by the uncertainty and depreciation of the pound. Also, the study notes that Greek tourism faces major quality issues at regional airports, ports, roads and motorways.
The intended increase in arrivals and revenues from foreign and domestic tourism in Greece will be determined primarily by the enrichment and diversification of the touristic product and the rate of supply growth internationally, according to SETE.

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