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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.

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About the Author
Nikos is Greek-American born in New York, USA, and has lived in Greece for over 30 years. He is the managing editor of Greece's leading monthly travel and tourism guide, the Greek Travel Pages (GTP) since June 2008 and of news site GTP Headlines since its launch in September 2012. Nikos has also served as international press officer for the City of Athens and for the mayor. He has a degree in Mass Media and Communications, specializing in Journalism. Nikos is a native English speaker and speaks Greek fluently.

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