Corporate foreign exchange news

Greece resilient to sterling's weakness

Tuesday, 25 August 2009 09:43:54 GMT

Greece has continued to attract tourism and property investment despite the weakness of sterling against the euro seen in recent months, the Greek National Tourism Office (GNTO) has claimed.
Sofia Panayiotaki, director of the UK and Ireland office at the organisation, explained that property sales have remained relatively strong in recent months, while early indicators suggest that the tourism industry rebounded strongly this month after a slump in July.
Figures from the GNTO suggested a 10.5 per cent drop in tourist volumes over the month, while Thomson Reuters figures suggested an 8.6 per cent fall in passenger numbers during the first seven months of the year.
"After discussions with tour operators, it seems that August was a good month. I think it was mainly because the weather was not very good as well in the UK," Ms Panayiotaki clarified.
She added that the country continues to prove popular with Britons looking to invest in property and retire overseas.ADNFCR-2522-ID-19328442-ADNFCR
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