2009 Budget Raises Concern
The Hellenic Chamber of Hotels recently expressed its deep concern in regards to government’s 2009 budget that was announced recently.
According to the chamber, besides the reduction of the public investment program by 10 percent, businesses will face a 17 percent expense burden and public spending will increase by eight percent.
The chamber underlined that the new budget is particularly unfavorable for the tourism industry in particular despite its significant contribution to the gross domestic product and employment.
The public investment program foresees a 35 percent reduction of expenditure for the tourism industry, while the 17 percent expense burden on businesses will be particularly high for the hotel industry due to the special real estate tax that has been enforced.