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Greece - Financial Travel Factors

The financial debt disaster has taken its toll on almost everything and everyone connected to Greece. Many Greeks are suffering severe financial times that have greatly changed their everyday lives for the worse. The economic system is not predicted to improve for many years. The new coalition government has failed on its strategy guarantees as travel and leisure; the nation's biggest factor, making up 16.5% of the economic system and providing jobs to one in five Greeks, has also been hit too.

After last season set a record for travel and leisure, the constant economic downturn brought on by two years of severity actions has predicted a  15% drop in earnings for 2012. Although Greece is still receiving many tourists, particularly from China and the former Communist bloc countries, the overall economic system continues to be negative for the industry. This is caused by various factors including the reduced purchasing power of the visitors, the result of pay cuts for workers, tax hikes and reduced retirement benefits for the Greek pensioners.

The financial debt disaster has brought on a significant move in the make up of tourists with Chinese and Russians being the main visitors. Visitors from the UK, Germany, Netherlands and France have been considerably less this year. According to the German TUI Travel Agency, there has been a drop of 30% in German visitors this season. The French have preferred Egypt this summer after the previous tensions of the Arabic rebellion and because of long-standing connections with the country.