Hellenic Hoteliers Chamber: Economy will lose €340 million and 6.174 jobs due to new hotel tax

The Hellenic Hoteliers Chamber called for scrapping of new hotel tax bill tabled by the Greek government, pointing out that its implementation will cause a loss of 6.174 jobs and a decline in state revenues by €435 million.The conclusions are derived from a relevant Grant Thornton study on the consequences of the new tax which is already included in the 2018 Greek State Preliminary Draft Budget.The study is entitled: "Hotel tax impact asssessment study" and reports that the Greek State revenue gain is estimated annually at 84 million euros, which can be extended through public investment to generate a positive contribution of 94 million.At the same time, however, Grant Thornton highlights that, ultimately, the losses in the economy from the application of this tax will reach €340 million, effectively cancelling any fiscal benefits, since the imposition of the tax is estimated to result in an average room price increase of 1.9%, causing a drop in demand that will lead to a 2.5% reduction in the overall turnover generated by hotels.RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism reportLet's block ads! (Why?)