The Greek ministries of economy, development, and tourism are examining possible measures to support business owners in the aftermath of the Covid-19 outbreak.
Greek Tourism Minister Harry Theoharis told Capital TV that subsidies and facilitating liquidity were among the measures currently being considered. The minister also noted that the tourism ministry jointly with the economy and development ministries will draw up a two-pronged support plan that will focus on aid for businesses and employees on an enterprise, industry or geographical level. All of this, of course, will be dependent on the real impact of the coronavirus.
Mr. Theoharis also spoke about support actions to be implemented in the aftermath of the virus scare when the overall impact on the economy can be assessed. Measures may include facilitating liquidity so that businesses can immediately recover lost ground.
Already, the coronavirus outbreak has cost Greece 70% of Chinese tourists who have already canceled trips. This may be a staggering blow to many businesses already growing to depend on the increased Chinese touristic flows. Three weeks ago Mr. Theoharis minimized the impact the these China cancellations would have. But, when combined with other economic impacts, the overall blow to Greece’s healing economy may be devastating.
Minister Theoharis took note of the fact that pre-bookings in the first two months of the year are on an upward trend, but that the coronavirus effect has begun to impact reservations. The focus now, Theoharis said, is to secure the country’s trade and business advantages “even in this environment of external challenges”.