Transcript economic crisis and greek tourism - E

UNIVERSITY OF IOANNINA
Department of economics
Course :English for economists IV
09.04.2014
ARGYRIOU CHRYSOULA 2340
IORDANOPOULOS SAVVAS 2391
KONSTANTINIDOU SOFIA 2432
LIAKOU PINELOPI 2442
TOPICS
 What is economic crisis ?
 How began ?
 Impact of crisis on social life.
 The importance of tourism in Greece.
 Kinds of tourism.
 Causes of economic crisis on tourism.
 Consequences of economic crisis on tourism.
 Evolution of Greek tourism.
 Future prospects.
WHAT IS ECONOMIC CRISIS?
 The phenomenon in which an economy is
characterized by a sustained economic
activity decrease.
 Is one of the two phases of economic
fluctuations and specifically the decline in
economic activity.
HOW BEGAN?
 Economic crisis began in the middle of
2007 in the USA and affected Greece in
2008.
 In 2009 Greece requested assistance
from the International Monetary Fund
and the Central Bank to cope the debt.
IMPACT OF CRISIS ON SOCIAL LIFE
 Greek crisis had impact on society and
Greece demanded debt reduction.
 Greek crisis is based on structural
problems and policies implemented.
THE IMPORTANCE OF GREEK
TOURISM
 Tourism is one source of revenues for
Greek economy, through taxes.
 It increases the Gross Domestic
Product approximately by 20 billion
euro.
 Employment is affected positively by
tourism ,reducing unemployment.
KINDS OF TOURISM
 Greece combines winter and summer
tourism.
 Winter : monuments and ski resorts.
 Summer : warm climate and dreamy
islands.
SEASONALITY OF TOURIST
ARRIVALS 1995-2010
CAUSES OF ECONOMIC CRISIS
 The Greek economy is based on primary growth
sector, shipping and tourism.
 Greece is not famous for its exports.
 The Greek industrial sector is not particularly
developed.
 A high ratio of revenues comes from touristic
services.
CONSEQUENCES ON TOURISM
 Greek citizens were forced to reduce their
travelling.
 Foreign tourists were obligated to limit their
expenses.
 The high price level led many visitors to consume
less on their holidays.
 Tourists reduced mainly the duration of their
vacation.
 It is noticed an increase in tourist traffic, but not
an increase in profits.
EVOLUTION OF GREEK TOURISM
 Redefinition of tourism policy so that
Greece can compete to popular destinations.
 Main goals of the plan : 1) improving
competitiveness and 2) reducing
seasonality.
 To achieve goal no1  government should
promote the natural and cultural Greek
beauty.
 To achieve goal no2 they should improve
substructures which serve tourism all year
.(airports, ports, hotels)
FUTURE PROSPECTS
 Predictions for 2014 18.5 million tourists which is
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translated into more than 13 billion revenues.
More German, French and English are going to visit Greece
in 2014.
Russia has the highest increase in bookings of 20%
compared to 2013.
USA, Holland, Scandinavian countries and Austria produce
double digits rate of climb.
Turkish tourists are going to reach 1 million.
Italian and Spanish tourists cannot be predicted because of
the financial crisis that they are going through.
22-24 millions are going to reach the tourists that travel to
Greece at the next 10 years.
IN CONCLUSION…
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