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Greece’s Tourism Chief Urges Immediate Actions for Sector Support

SETE President Yiannis Retsos.

SETE President Yiannis Retsos

Greece’s main tourism body is calling for the immediate implementation of EU funding tools to support ailing sector enterprises impacted by the coronavirus (Covid-19) pandemic.

More specifically, the Greek Tourism Confederation (SETE) is requesting that the government increase the limit of direct subsidies, guarantees or loans to 3 million euros for each enterprise active in tourism.

Since March, when the first lockdown measures were implemented, “tourism companies have continued to suffer increasing losses,” SETE President Yiannis Retsos said.

In a letter to Prime Minister Kyriakos Mitsotakis, Retsos referred to an amendment in EU Covid support policy aimed at “strengthening companies impacted by the pandemic that face a reduction in turnover by at least 30 percent. This aid covers part of the fixed costs of companies not covered by their income, with a maximum of 3 million euros per company and can take the form of a direct grant, guarantee and loan”, he said.

In this direction, Retsos is urging the PM to take immediate action and ensure that all the necessary steps have been taken so that tourism businesses in Greece will be able to tap into EU aid to the fullest.

“It is, therefore, vital for the sector that our companies are financially supported and that liquidity, which is absolutely necessary for their continued operation, can be ensured,” he said.

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