Greek crisis

[Silly Money]

DO you think Greek crisis is good tourism? Will the Greek crisis make travel there cheaper ? Will the economic turmoil in Greece frighten or attract tourists?

People tend not to go to places once they're hot by these things so it's going to have a very bad impact on tourism. Many tourist resorts will likely shut as well. Maybe if they started accepting bitcoin though they'd get some bitcoin tourists  .

[NeuroticFish]

I am in talks with many Greek friends and they say with the increase of unemployment, the crime in bigger cities has increased. You have to be more vigilant for pick pockets on the streets and theft has definately

increased. {Small items like phones and cameras and wallets}

They say the rural areas are a bit better... but the average tourists, keep to the more popular cities and that makes them a target.

The prices are still reasonable and food is not a problem... So it's still a option for the tourist that is used to the petty crimes around the bigger cities in Europe. The general moral is a bit low and the people are a

bit cranky.. but that is normal for this type of situation.     

These are valid points. I am from Romania so I grew up with the "knowledge" to always watch my pockets but, yeah, since everybody tell the tourists to go with cash (I don't understand why, because most places seem to go well with credit cards, I know from somebody who came back yesterday from Greece) it's just a call for pickpockets from all over the world.

DO you think Greek crisis is good tourism? Will the Greek crisis make travel there cheaper ? Will the economic turmoil in Greece frighten or attract tourists?

People tend not to go to places once they're hot by these things so it's going to have a very bad impact on tourism. Many tourist resorts will likely shut as well. Maybe if they started accepting bitcoin though they'd get some bitcoin tourists  .

More important is that the taverns should (also) accept bitcoin!

[Nowi]

Yes, travveling there will be cheaper, but what is more important for us is that a bitcoins is going up thanks that crisis. But about that accepting bitcoins there, I am not sure about it, not many Greeks interested in bitcoin, there is only one automat for them. So probably you will not get many chances to pay with it.

[speaktome]

It appears that the debt crisis of Greece begins to affect tourism in Greece , a country where tourism represents 18 % of the economy .The Confederation of Greek Tourism ( SETE ) has noticed a 30% drop in reserves last minute , which normally represent a fifth of the total . However , it is considered that the impact on the industry may be limited because the crisis has come when plans to travel were already booked. By the way, somebody knows if are open normally Banks already?.

[pigzone]

Ya they must be making tourism more cheaper to attract more people

[countryfree]

Cheaper, maybe but also more dangerous. Physical assault shall not be a concern, but you may experience delays or troubles because of strikes or demonstrations. If you go on vacation only once a year and just want to relax, better travel elsewhere.

[pigzone]

Greece doesn't have choice they have start building back up

[CPNpr]

Greece doesn't have choice they have start building back up

I am confident with the right back up plan they will recover soon. And still all others making their fortune with the crisis, one man's pain is another man's pleasure.

[brekyrself]

Greece doesn't have choice they have start building back up

I am confident with the right back up plan they will recover soon. And still all others making their fortune with the crisis, one man's pain is another man's pleasure.

They might be keeping plan B close to the chest by taking the EU bailout and then exiting the Eurozone in a year.   

[Gyfts]

The tourism business alone is not anywhere near to save their economy. They need reform (and they've been working on it). Tourism shouldn't be hugely affected. If anything, I imagine it would decrease.

[Amph]

Ya they must be making tourism more cheaper to attract more people

tourism is cheaper there as a consequence of their crisis, but because of the crisis i doubt any major tourism will happene there, their nation is totally ruined until they can repay their bid dept and retrieve what they have lost

in the first place, they should think about sustaining their citizens more instead of talking about tourism

[botany]

The tourism business alone is not anywhere near to save their economy. They need reform (and they've been working on it). Tourism shouldn't be hugely affected. If anything, I imagine it would decrease.

Yes. People aren't going to travel to Greece just because it has become a little bit cheaper.
The negative press about protests could actually scare people off.

[Alley]

Banks closed until sunday.  Will there be a bank run when they open?

[HarHarHar9965]

Ya they must be making tourism more cheaper to attract more people

Yes, tourism sales have the potential to bring in some good money for Greece, it always has but after so many negative things happeing in the country and the bank shut down issue... The tourists are scared, and I think all these activities have put the country in bad light. I don't think tourism will bring in any money which might make a difference for atleast 3-5 years.

[Swordsoffreedom]

Ya they must be making tourism more cheaper to attract more people

Yes, tourism sales have the potential to bring in some good money for Greece, it always has but after so many negative things happeing in the country and the bank shut down issue... The tourists are scared, and I think all these activities have put the country in bad light. I don't think tourism will bring in any money which might make a difference for atleast 3-5 years.

It depends one benefit that would occur if the Greeks did go back to the Drachma is that the exchange rate would be quite low and make visiting relatively more attractive.
It would also result in some price variations that said in the common currency the main advantageisthat tourists bring in cash for them when they can't really withdraw money from the banks.
Equivalent to a shared exchange rate risk.

That said the banks still closed for another few days
http://www.theguardian.com/business/live/2015/jul/16/greek-debt-crisis-ecb-and-eurogroup-consider-next-steps-after-yes-vote-live
Greece’s banks will stay closed until the close of play on Sunday, the finance ministry just announced.

That tees up the possibility of reopening on Monday, with limited services, if a bridge loan for Greece is signed and sealed on Friday (as seems likely).

Economically the argument could be made Greece would do a lot better to take the bailout money, join the Brics and or go it alone than stay in the Union based on average performance but that is just an option at this point.
http://www.vox.com/2015/7/16/8978275/euro-chart-disaster-eurozone

[Falconer]

Ya they must be making tourism more cheaper to attract more people

Yes, tourism sales have the potential to bring in some good money for Greece, it always has but after so many negative things happeing in the country and the bank shut down issue... The tourists are scared, and I think all these activities have put the country in bad light. I don't think tourism will bring in any money which might make a difference for atleast 3-5 years.

I think Greece is still be attracted to the tourists who rich enough. The problem is, although the natives get much money from their business in tourist services, they still have to pay the high tax to the government, and then that money will be disappeared by corruptors. No chance for Greece to get out from crisis now.

[Amph]

Banks closed until sunday.  Will there be a bank run when they open?

why it should? the 60 euro limit should be removed now that they have recieved their new fund from european central bank, so they were free to withdrawal their money

also the run would have already happened by now 1 week already passed from the last news about the fact that there is no grexit

[EXtremeAEX]

Yes, of course tourism would be greatly decreased. Assaulting is highly probable, but I must say that it is a beautiful country. When it restores back, I'm sure tourism will resume back to normal again, and maybe more people there would start using bitcoins, for all you know, to act as a backup.

Would you immediately withdraw all the money from the bank once it resumes? Just a question to ask and ponder about. The citizens there would be greatly affected too, mentally. Trusts might be gone, which is more difficult to built back again. Hope it comes back up again. Really difficult to govern a country without corruption.

[maku]

Banks closed until sunday.  Will there be a bank run when they open?

why it should? the 60 euro limit should be removed now that they have recieved their new fund from european central bank, so they were free to withdrawal their money

also the run would have already happened by now 1 week already passed from the last news about the fact that there is no grexit

The limit of €60 a day is only applicable to  Greek citizens. If you are foreign tourist in Greece you have still full access to your money via Greeks ATMs.
So this restriction is no problem for tourists at all.

[n2004al]

DO you think Greek crisis is good tourism? Will the Greek crisis make travel there cheaper ? Will the economic turmoil in Greece frighten or attract tourists?

If Greek will be able to offer good services regardless of crisis, if the situation of the Greek banks will return normal and if the economy of Greece will improved (or at least will not go worse than it is) the tourism in Greece will go better and better.

For the simple reason that the structures and the sea are the same and the prices of the services (normally and probably) will go down (because of crisis).