Bulgarian, Greek Tourism Wage Cut-Price War

Business » TOURISM | June 11, 2012, Monday // 11:07
Bulgaria: Bulgarian, Greek Tourism Wage Cut-Price War An undated handout photo by Dive Guide Greece released on 09 August 2011 shows a girl snorkling in Loutraki area, Peloponnese, Greece. Photo by BGNES

The fight for tourists has reached fever pitch in Bulgaria and Greece, which are offering a range of last-minute cut-price deals to lure visitors.

Greece is set to attract more Bulgarian tourists this summer with a 30% discount on its prices in a bid to make up for the outflow of German and British visitors, who withdrew scared by the crisis and euro exit talk.

Bulgarian tourist operators are about to strike back, mounting their own price-cutting campaigns.

The first result of the Greek last-minute special offers is that large groups of Israeli tourists have refused to holiday in Bulgaria and opt for Greece instead.

Bulgarian tourists are also starting to turn their backs on the Black Sea coast and go Greece.

"The Greek approach is nothing short of dumping and it deals a detrimental blow to our hotels," the head of the Bulgarian Hotel and Restaurant Association Blagoy Ragin said. According to him prices have already dropped significantly, in some cases even below the cost of service.

Greece remains the greatest destination for Bulgaria's short break fans, who would rather find their pleasures closer to home and whose batteries take longer to recharge.

A huge part of the active and working people in the Bulgarian capital have been spending over the last few years their summer holidays south of Sofia, in Greece and Halkidiki in particular.

People from the Greek industry say however that the biggest headache is the outflow of Greek and German tourists.

German experts have pointed out that Bulgaria enjoys good prospects for profitable summer season not only thanks to its attractive resorts and price-quality ratio, but also due to a tangible outflow of tourists from Greece and Egypt.

All the measures that the Greek government implemented in a bid to combat the crisis, particularly the hikes in VAT and fuel, dealt a heavy blow to the country's tourism sector and it was even forced to swallow a very unpopular move – a decrease in prices of the tourist packages offered.

The decrease in prices though is not a decision for everyone as the smaller, family hotels, which represent the backbone of Greece's tourism sector, will see their profits shrink even further.

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Tags: Bulgaria, greece, Bulgarian, Greek, tourism, tourists, resort

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