![How the war in Ukraine affects Greek tourism](https://www.ot.gr/wp-content/uploads/2021/09/tourism.jpg)
The first nationwide survey on the “Effects of the Russia-Ukraine war on Greek businesses and tourism” shows only a slight impact on the viability of tourism businesses from the interruption of the tourist flow. The survey was presented by the Central Union of Chambers of Greece (KEEE) in collaboration with Palmos Analysis.
As emphasized, tourism companies expect to make up for any losses by targeting other foreign markets, as well as the domestic market.
Trade with Russia/Ukraine
There is a sharp drop in import and export activity in relation to the two warring countries with an emphasis on problems in Northern Greece and in specific sectors of activity. However, the risk of “harsh” consequences, such as layoffs, suspension of operations, etc., is limited and is mainly found in very small businesses and in very specific industries.
In order to deal with the situation, businesses with import/export activity with Russia/Ukraine are proceeding to look for alternative source countries or alternative routes/modes for importing/exporting products or channeling their products to the domestic market.
At the same time, there is an order of increase in the prices of their products above the levels of current inflation to deal with the increased costs, due to the large increases in the costs of energy and raw materials, etc. Finally, subsidizing the cost of energy is the most popular support measure from the State, according to the businesses that participated in the survey, followed by the suspension of tax/insurance obligations (mainly among very small businesses).
Tourism businesses in areas with a presence of Russian/Ukrainian tourists
In general, the participation of Russian/Ukrainian tourists in the customer base of tourism businesses is small and very little impact on the viability of tourism businesses is expected from the interruption of the tourist flow from the two warring countries. Already, tourism businesses expect to make up for any losses, by targeting other foreign markets and the domestic market, while they estimate that there will be a restoration of the flow of tourists from Russia/Ukraine, from the very next season after the war ends.
In addition, there is a significant increase in operating costs for tourism businesses, as a result of which an increase in the prices of their services is expected, slightly above the current inflation levels, to deal with increased costs of energy and raw materials, etc. However, the price increase trends appear milder in accommodation and tourist offices, due to “locked” agreements. Finally, the energy cost subsidy is recorded here as the most popular support measure from the State.
Russian tourists abroad
These are people of a higher socio-economic class. The safety of the destination, the price-value relationship (value for money) and the “sun & sea” dichotomy are the main criteria for choosing a holiday destination abroad, while Russia’s relations with the destination country are rated much lower. They organize their holidays abroad mainly through tourist offices and Greece is among the most popular destinations abroad for their holidays. There is expected to be a significant reduction in the flow of Russian tourists abroad due to the war and the impact of the reduced flows during this season seems to be mainly in the European countries of the Mediterranean, including Greece. In the medium-long term, however, there is so far no serious impact on the image of Greece as a tourist destination from the deterioration of relations between the two countries due to the war.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Cosco: Container Traffic Decline at Piraeus Port Continues](https://www.ot.gr/wp-content/uploads/2024/07/olp1-scaled-1-2048x1312-1-600x384.jpg)
Cosco: Container Traffic Decline at Piraeus Port Continues
This strategic shift has diminished Piraeus's standing as a prominent Mediterranean port and a key transshipment hub post-Suez Canal.
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
![ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y](https://www.ot.gr/wp-content/uploads/2023/08/unnamed-41.jpg)
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
![Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated](https://www.ot.gr/wp-content/uploads/2024/06/ergasia-ergazomenos-600x300.jpg)
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4
![OECD: Job Vacancies on the Rise in Greece](https://www.ot.gr/wp-content/uploads/2024/07/ergasiabusinness-768x556-1-1-600x434.jpeg)
OECD: Job Vacancies on the Rise in Greece
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019