The Bankruptcy of Thomas Cook May Cost the Greek Tourism Half a Billion Euros

The Greek tourism lost аbout half a billion euros from the bankruptcy of the British tourism company Thomas Cook, Kathimerini reports, citing an interview with Greek Tourism Minister Haris Theoharis at ANA-MPA.

He announced new measures by the government to mitigate the effects on the industry.

"If Thomas Cook's collapse had not happened, the year would have ended with revenues, some EUR 500 million higher than in 2018, and with a significant increase in the average (tourists) spending in the country," he said.

The minister said the main concern of the government was to support companies and employees in the sector affected by the bankruptcy of the British tour operator.

A special program of the Organization for Employment of Labor Supporting Jobs, 6 months delay the VAT payment in proportion to the percentage of turnover of each company with the bankrupt company and supporting the affected companies through Greek Development Bank are among the support measures listed by Theoharis.