As Greece referendum looms, is the country safe for tourists?

Worried about traveling to Greece? The biggest setback tourists could face is a lack of hard cash. 

|
Jean-Paul Pelissier/Reuters
A group of tourists takes a selfie in front of the temple of the Parthenon atop the Acropolis in Athens, Greece, July 2, 2015. Prime Minister Alexis Tsipras called on Greeks to vote 'no' in Sunday's referendum on a bailout package offered by creditors, in a defiant address that dispelled speculation he was rowing back on the plan under mounting pressure.

Even as Greece misses its deadline to pay international creditors and prepares a referendum that could toll the death knell for its membership in the single currency Eurozone, the country’s tourism industry is booming.

As is usual for the summer months, millions of European tourists are spending their holidays lounging on Greece’s pristine beaches and photographing the ruins of the birthplace of democracy.  Nevertheless, as the possibility of a Grexit (or Greek exit from the Eurozone) grows more probable, some tourists may be starting to wonder whether it's time to pack their bags and head home. 

Despite some sensational reports of panicked governments preparing to airlift their citizens out of the country, many experts say that holiday goers in Greece are unlikely to face any major setbacks.

"Considering the importance of tourism for the Greek economy… it is to be expected that the Greek government will do everything possible to make sure political instability in the country does not affect tourists," Angelo Rossini,  Euromonitor’s  International travel analyst, told NBC.

Instead, the biggest problem tourists might face is a lack of hard cash. As Greeks scramble to withdraw funds in preparation for Sunday’s referendum, some ATMS have been left devoid of currency.

Greeks are currently limited to withdrawing just 60 euros (around $74) a day from ATMs, and no restrictions apply to credit cards issued in foreign countries. Despite the restriction, as residents line up to withdraw, some tourists may be forced to join the queue only to find bank machines empty by the time they reach the front.

A spokeswoman for the National Bank of Greece told the Wall Street Journal that banks are trying to replenish cash at ATMs as quickly as possible, but fear of a shortage has made cash the preferred method of payment almost everywhere. Some local businesses have even started rejecting credit card payments altogether. 

“There are many rumors about capital controls [going into place] next week so I am asking clients for cash, as returns from credit cards won’t be readily available,” a souvenir-shop owner in the central Athens told the Journal.

Tourists have been advised to arrive in the country with as many small bills as possible. 

The US embassy has confirmed that it is still safe to travel to the country's tourist destinations, but it has prepared a calendar of planned demonstrations throughout the country and advised tourists to avoid them.

In the long run, however, some experts have pointed out that the current crisis could have the unintended consequence of boosting tourists’ purchasing power by driving down prices.

The US dollar is currently strong in Europe: as a result of the EU's lingering financial woes, the euro-dollar exchange rate fell from $1.36 in June 2014 to $1.12 now. And although a Grexit potentially could lead to temporary political unrest, tourism experts say that devaluation would make Greece a more attractive destination once stability returns.

For the moment, Greece’s government is attempting to assuage all fears.

"The tourists that are currently in Greece as well as those that are going to come will not be at the least affected by the latest developments and can continue to enjoy their vacations in Greece without the slightest problem," Alternate Tourism Minister Elena Kountoura said in a statement Wednesday. 

Last year, travel and tourism contributed around $32.7 billion to the Greek economy, or over 17 percent of the country’s gross domestic product, according to the international travel industry forum the World Travel & Tourism Council.

You've read  of  free articles. Subscribe to continue.
Real news can be honest, hopeful, credible, constructive.
What is the Monitor difference? Tackling the tough headlines – with humanity. Listening to sources – with respect. Seeing the story that others are missing by reporting what so often gets overlooked: the values that connect us. That’s Monitor reporting – news that changes how you see the world.

Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to CSMonitor.com.

QR Code to As Greece referendum looms, is the country safe for tourists?
Read this article in
https://www.csmonitor.com/Business/2015/0702/As-Greece-referendum-looms-is-the-country-safe-for-tourists
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe