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SETE Agrees to Gradual Minimum Wage Increase in Greece

euros_moneyThe Greek Tourism Confederation (SETE) today agreed with the government’s plans to gradually raise the minimum salary from 511 euros to 751 euros.

“Tourism businesses agree with the gradual increase of the minimum wage to 751 euros,” SETE President Andreas Andreadis said in a meeting with Labor Minister Panos Skourletis.

However, Mr. Andreadis suggested for the insurance contributions for those aged up to 25 to remain at current levels. In other words, he suggested that insurance contributions be calculated on the basis of 511 euros when the gradual increase of wages for those aged up to 25 begins (from 511 euros today to 751 euros).

According to Mr. Andreadis, low insurance contributions would facilitate the massive hiring of some 100,000 unemployed during the tourism season, which this year is expected to surpass all previous records.

SETE’s president estimates that foreign tourist arrivals to Greece this year will reach 25 million.

On the issue of tackling uninsured labor, which among other things creates unfair competition between businesses, he suggested that all employees pay their tourism workers exclusively through the banking system.

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