Wall Street Journal
November 26, 2010
Faced with a third year of a grinding recession, Greece is banking on an upturn in its vital tourism sector to lift its economy and provide jobs for the growing army of unemployed.
The Greek government is pushing ahead with efforts to boost tourism, spanning moves from attracting more budget airlines and relaxing restrictive laws on cruise ships to revamping the country's marketing campaign abroad.
Last week the government promised to slash the rate of value-added tax on hotels, to 6.5% from 11%, in a bid to make the country more competitive against rival destinations, even as the government scrambles to cut spending in other areas to bring down its bloated budget deficit.
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