Reviving Tourism, Exports Tops Greece’s Economic Recovery Plan

Athens, Syntagma square. Photo: Visit Greece / H. Kakarouhas

Looking to the next day and at ways to recover its economy which suffered a heavy blow due to the coronavirus (Covid-19) pandemic, Greece is aiming to redefine two of its top sectors: tourism and exports.

According to Greek Finance Minister Christos Staikouras, the government’s recovery plan, set to enter implementation stage after June, will focus on rebooting the tourism and export sectors by redefining demand with more targeted measures.

According to the minister, the new measures include tax and insurance incentives for tourism enterprises which had planned in 2020 to complete investments and repairs in the winter of 2021, taking into consideration that these businesses will either remain closed this summer or not fully operate.

Greek Finance Minister Christos Staikouras. Photo source: cstaikouras.gr

At the same time, Staikouras said, the government is planning tax and insurance incentives so that export companies expand activities or for those that currently do not have export activity to invest in its development.

Measures will also focus on bolstering transport, investments, employment and banking institutions as well as segments of the primary production sector.

Meanwhile, in relevant news, Staikouras said that Greece had recorded the smallest decline in economic sentiment as a result of the Covid-19 measures compared to other EU countries.

“EU member states recorded an average decline of 28.8 points from 94.6 to 65.8 points, whereas in Greece, the drop was by 10.1 points, with the index showing 99.3 points in April,” he said.