Market Report Greece

Greek Hoteliers Optimistic for 2016 According to the GBR Consulting Barometer

Greek Hoteliers are very optimistic for 2016 according to the GBR Consulting barometer for 2016. Around 6 out 10 city hoteliers is forecasting improvements in occupancy levels and room rates of at least 2% in comparison to last year. The resort hoteliers are slightly more cautious, but also their barometers show a positive outlook for 2016 with increases in occupancy and ADR levels.

With the political turmoil of 2015 behind us, the Greek Government currently proceeds with the implementation of the three year adjustment program agreed in August 2015. Many of the required measures have already been voted on by parliament, but a number of main issues still need to be negotiated including the break-up of the electricity monopoly, a resolution of non-performing loans and reforms in the pension system.

The current government forecast is for GDP to decline by just 0.7% in 2016, but given the scale of the fiscal consolidation and the impact of the reforms, Oxford economics forecasts that GDP will fall by 1.6% in 2016 and will remain broadly flat in 2017.

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GBR Consulting is a leading Greek business consultant firm. GBR Consulting supports clients develop their businesses in a structured manner leading to growth. The firm offers their clients, who are mainly active in the tourism, retail, food, construction and energy sectors, lasting solutions in the field of strategy, marketing, organisation and finance, while also delivering litigation support.

GBR Consulting
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T (+30) 210 36 05 002
F (+30) 210 36 06 935
www.gbrconsulting.gr
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