Thomas Cook deals severe blow to Greek Tourism

The collapse of Thomas Cook, one of the oldest and largest tourism firms in the world dealt a severe blow to the Greek tourism industry.

The damages suffered by hotel owners can reach 300mn euros according to some estimations.

The tourism minister projected that the total losses could reach 500mn euros.

The question now is who will pay the piper? Hoteliers? Their clients? Or taxpayers?

The government’s move to offer support is certainly appropriate. The tourism industry is in the midst of a crisis even as the country overall is exiting the crisis.

Under no circumstances should that cost be passed on to the taxpayers and consumers. That is not only because taxpayers have footed the bill so many times, but because the transfer of the bill will further damage the tourism industry.

Those involved in the tourism industry should not forget that the “golden summers” of the last two years were intimately connected with the more general situation in the Southeastern Mediterranean.

Many tourists avoided Turkey and Egypt. Now the environment is once again becoming competitive for our country.

A competitive environment means that good services and good prices are needed.

Professionals in the tourism sector are well aware that nothing lures visitors more than an attractive “package”.