All posts tagged: Hotel Industry

Greece Crisis

Has There Ever Been a Crisis in the Greek Hotel Industry?

The Recent decade has been startling for many countries. The crisis of 2008 and the events that came after it shook the World. Many nations were left in disarray. One that had a particularly hard time was Greece. It was one of the countries most affected by the crisis. But with so many tourists visiting it each year we have to ask ourselves a question. Has there been a crisis in the Greek hotel industry? The Overview of the Crisis The debt crisis in Greece was a result of the financial crisis of 2008. Its results came in the form of sudden reforms as well as saving measures and as a result impoverishment of the society and the collapse of the domestic market The crisis has shaken the Greek economy. Still, to this day it cannot escape the consequences. And they are devastating. The debt reaches 180% of the country’s GDP. And despite receiving €326 bn in bailout loans, it still struggles. The unemployment rate of nearly 25% is the highest in Europe, and Greece …