Greece – on the edge of debt crisis but with thriving travel industry

Last few weeks we all are bombarded from the news about long lasting debt crisis of Greece.

Financial analysts are discussing whether IMF and EU will approve second bail out or Greece will leave Eurozone.

Athens Street are full with angry protestors asking for pay rise.

This is the one side of the coin. The other side is that pushed by debt crisis Greece is becoming very affordable. Government and local administration are trying to stimulate the industry with lower tax and decreasing ferry and airport fees.

Last month, the administration reduced the price of ferry tickets by abolishing costly levies. The move followed the waiving of landing and taking-off fees at airports outside Athens, which has resulted in a reduction in the cost of air travel. A similar decision to bring down VAT from 11% to 6.5 % on tourist accommodation has ensured the country has become more competitive.

According Expedia reservations are made till November.

Visa restrictions for non-EU countries like – Turkey, India, and China are lifted.

Looks like Greece will be popular for bargain hunters this summer.

I think it worth checking the prices of hotels and airlines.

More hotels in Greece here.