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Economic Crisis And Tourism: Case Of The Greek Tourism Sector

Author

Listed:
  • Dejan Guduras

    (Faculty of Economics, University of Ljubljana, Slovenia)

Abstract

The purpose of the article is to present the impact of the global economic crisis on international tourism in Greece, where tourism represents an important part of the economy. The goal is to create a brief overview of the economic situation in Greece, describe the changes that followed after the occurrence of economic crisis and to show how tourism responded to this situation. In this regard publicly available data about tourism and other economic sectors of Greek economy were compared in order to investigate whether Greek tourism sector was less affected due to the international economic crisis than other sectors. The results show that tourism, compared to other economic sectors, represents a very flexible and dynamic sector which even in times of economic crises appears to be very resilient on the long term.

Suggested Citation

  • Dejan Guduras, 2014. "Economic Crisis And Tourism: Case Of The Greek Tourism Sector," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 23(2), pages 613-632, december.
    • Handle: RePEc:avo:emipdu:v:23:y:2014:i:2:p:613-632
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    References listed on IDEAS

    as
    1. Wagner A. Kamakura & Rex Yuxing Du, 2012. "How Economic Contractions and Expansions Affect Expenditure Patterns," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 39(2), pages 229-247.
    2. World Bank, 2013. "World Development Indicators 2013," World Bank Publications - Books, The World Bank Group, number 13191.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    tourism; economic crisis; Greek tourism; accommodation and food service activities;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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