According to reports released by the Bank of Greece (BoG) the amount of spending by tourists decreased substantially in 2016 from the previous year.
The data shows that the average spending of tourists on vacation in Greece from January to September 2016 decreased 9.3 percent from the same period in 2015, bringing the average amount of euros spent to a mere 546.60.
The month of September was the most severe drop from 2015, amounting in only 523.40 euros of spending while on vacation, a decrease of 10.1 percent from the previous year.
Experts in the hotel and tourism sector have commented that the decline in spending is in direct correlation to the atmosphere of the region. Particularly the instability of Turkey following the failed military coup attempt on July 15 and the migrant crisis are factors that have contributed to the decrease of tourists visiting Greece and spending, as well as tax hikes throughout the country, making Greece an expensive holiday destination for travelers.
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