Tourism contribution to the Greek GDP has increased as a result of the performance of the tourism sector this year, the head of the Association of Greek Tourism Enterprises (SETE) Andreas Andreadis said in his address at 13th SETE conference.

According to Mr. Andreadis, the direct and indirect contribution of tourism to the real economy stands at 20.5% of GDP or 37.6 billion euros, based on a 2.2 multiplier that IOBE research institute estimated in 2012.

Andreadis stressed that in 2014 direct and indirect revenues for the Greek tourism, including revenues from air and maritime transport and internal tourism, will amount to 14 billion euros and to 17 billion euros.

He stressed that if the multipliers of KEPE institute on the allocation of tourism spending are adopted, then the relevant contribution rises to 45.3 billion euros or 24.7% of GDP.

However, he mentioned that tourism sector has still a long way to go adding that “we should establish international standards of skills and services, highlight and show off our cultural wealth, help SMEs and invest supporting the prospects of the sector,”.