The cost of coronavirus: Greek tourism slump threatens a decade of hard-won gains

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The cost of coronavirus: Greek tourism slump threatens a decade of hard-won gains
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About now, Charlie Chahine should be welcoming his first international guests of the season to his Suites of the Gods resort on Santorini, Greece's most popular holiday island.

ATHENS - About now, Charlie Chahine should be welcoming his first international guests of the season to his Suites of the Gods resort on Santorini, Greece’s most popular holiday island.

“The situation now is at zero, nothing is moving. How will tourists get here without airplanes? In a submarine?” says Chahine. Around him, the whitewashed buildings of Fira, the island’s main settlement, are a ghost town. The pandemic threatens not only to rob Santorini of income and jobs; it risks sending Greece, whose tourism industry makes up a fifth of the economy, sliding back toward the dark days of the euro zone crisis a decade ago.

Greece’s sovereign debt is expected to balloon out to almost 200% of economic output, more than undoing the gains earned through the painful public spending cuts that the euro zone and IMF demanded as the price for bailouts.Though it has one of Europe’s best records at handling the pandemic, with 2,678 coronavirus cases and 148 deaths, its tourism industry relies overwhelmingly on overseas visitors, especially from Europe, the United States and China.

“There are encouraging signs that its response will be commensurate to the measures announced by the ECB.” “This season is not going to be like the other years,” Tourism Minister Harry Theoharis told Reuters. “I’d be a fool to believe this could ever be the case.”

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