5 HOT STORIES NEWS YOU NEED TO KNOW THIS WEEK


This week’s top stories: 1. Greece fears unfounded 2. Minister’s last hurrah 3. Barrhead seeks 150 staff 4. Fly-cruise operator fails 5. OTA boss jailed for theft


1


Greece sales tipped to stabilise as election result weakens euro Ian Taylor


Consumers can be reassured that Greece remains a desirable destination following concern about the impact of the Greek election on holiday sales. The election of a left-wing Syriza-led


government, committed to renegotiating Greece’s debt, caused the euro to fall to an 11-year low. That raised hopes of a rise in demand, although some Syriza pledges, such as a ban on all-inclusive resorts, could trouble the industry. Industry analyst GfK reported summer 2015 bookings to Greece up 2% year on year at the start of January, following two good years. Average selling prices to Greece were also up, despite an overall decline in the market. However, GfK recorded a 5% fall in bookings to Greece in the week to last Saturday. But Abta reported a muted response to the election result after being primed to reassure consumers. Chairman Noel Josephides contrasted the atmosphere in Greece this week to 2010-11, when the debt crisis and protests in Athens dominated the news. “It is not like last time, when there was


4 • travelweekly.co.uk — 29 January 2015


violence that put people off,” he said. “Whatever you think with a business hat on, this is a populist reaction. It’s a happy reaction. The honeymoon could go on for a while.” Sunvil chairman Josephides said


elements of Syriza’s manifesto could have an impact on travel, including a pledge to ban all-inclusive hotels. But he said: “Whatever happens, it won’t be instantaneous. Local businesses feel they have been affected by all-inclusives, but it won’t be a priority.” This may not stop the scare stories.


“The Telegraph rang me asking whether people will be thrown out of hotels,” added Josephides. “It’s rubbish.” Abta said in a statement: “All-inclusive


holidays continue to grow in popularity, particularly among the family market. “The Greeks should consider that they might risk losing this slice of the holiday market to other countries. “There are pros and cons, and many all-inclusives are a vital source of employment for local people.” Syriza has already said there will be no rise in VAT on hotels. Greece’s creditors wanted the rate to double in April.


PICTURES: REX/LUIGI MISTRULLI (SIPA), STEVE MEDDLE


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