Reuters - Video

EDITION: U.S. | U.K. | IN

World News

Greece returns as tourist hot spot

Monday, August 04, 2014 - 02:06

Debt, recession, social unrest? Sun, sea and historic sights lure tourists back to Greece in their droves. It's expecting a record year for visitor numbers in 2014, giving its economy a much-needed lift as it inches back to recovery. Hayley Platt reports.

▲ Hide Transcript

View Transcript

Historic landmarks and glorious sunshine have long made it a favorite holiday destination. That is, until Greece's crippling debt, worries about social unrest and its possible exit from the euro zone, kept holiday makers away. Now as the country emerges from the crisis, visitors numbers are set to soar. Andreas Andreadis is from the Greek Tourism Confederation. (SOUNDBITE) (English) ANDREAS ANDREADIS, PRESIDENT OF THE GREEK TOURISM CONFEDERATION, SAYING: "Greece is in fashion again, that is good news. I hear from everywhere, 'we go to Greece this year,' this is really a very good thing for the country and its economy." Tourism is Greece's biggest cash earner. It accounts for a fifth of GDP and employs one in five Greeks. During the slump, hotel owners and restauranteurs have had to slash prices to lure visitors. It seems to be working. (SOUNDBITE) (English) TOURIST DAVID ABRAMOVIC FROM LOS ANGELES, CALIFORNIA, SAYING: "I think the hotels are decent value and the restaurants are an excellent value." (SOUNDBITE) (English) TOURIST PETER MAIJDERWIJK FROM THE NETHERLANDS, SAYING: "It was not a good thing to see a crisis going on in Spain, Portugal, Italy and Greece. Yes there were a lot of monetary reasons but this is nothing to do with the people or the country itself." This year Greece is expected to smash all records with 19 million arrivals. That's over a million more than it was pre-crisis and worth 13 billion euros to the economy. Many of them will visit the capital Athens. (SOUNDBITE)(English) ANDREAS ANDREADIS, PRESIDENT OF THE GREEK TOURISM CONFEDERATION, SAYING: "This is very good news for a city that is really beautiful but suffered a lot because of the demonstrations, because of the problems, you know, with security and so on, the bad image of the city." After six consecutive years of recession, the Greek economy is set to grow again at 0.6 percent. It's been bailed out twice by the IMF and EU with loans of around 240 billion euros. It's making good progress. The influx of returning visitors should create 50,000 new jobs. It won't solve the country's high unemployment altogether - where 27 percent are out of work and youth unemployment is more than than double that. But it's a step in the right direction to once again becoming the jewel in the mediterranean crown.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Greece returns as tourist hot spot

Monday, August 04, 2014 - 02:06

Top News »

Money Clip »

Will Apple Pay transform mobile payments? Will Apple Pay transform mobile payments?

Thu, Oct 16, 2014 - (2:45)

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

Moving Pictures »

Dance of the northern lights Dance of the northern lights

7:37am EDT - (1:08)

Images of September Images of September

Wed, Oct 01, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Investing 201 »

Bond investors brace for the end of Fed stimulus Bond investors brace for the end of Fed...

Fri, Oct 10, 2014 - (4:03)

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)