Macro-economic which is a abstraction about the accomplished country’s bread-and-butter includes GDP (Gross Calm Product), accumulation – demand, employment, inflation, bread-and-butter advance and barter rate. The aggregate of all the alone bazaar activities (the advance in the clandestine and accessible sector) works calm and creates the civic economic.
We accept called the country Greece to analysis and abstraction about those basal problems which are complex to the tourism and accommodation industry. Generally speaking, the abstraction of Greece’s macro-economic will advice us accept added how the civic economic, tourism and accommodation industry and our auberge are accompanying and afflicted anniversary other. Aboriginal of all, we would like to acquaint all-embracing Greece’s history (history, political, population, geography, etc). Again we booty the basal allotment to analysis Greece’s the civic bread-and-butter issues (GDP, employment, inflation, and currency), the PESTLE (Political, Social, Technology, Legal and Environment). Again secondly, we abstraction about the accomplished tourism and accommodation industry of Greece and SWOT. This allotment will say about how the government’s captivation in tourism and explains how the anon macro-economic issues affect to this industry. The aftermost but not least, we will accord out the advantages and disadvantages’ the Greece’s macro-economic and accomplish that it is adapted for advance and operating our business auberge or not, and afterwards how the macro-economic will affect to our hotel’s action in the future.
In summary, we will booty the cessation to accord out our assuredly accommodation of advance into Greece or not. The cold of the action is to assay the “macroeconomics” ambiance and codify a advocacy to advance or not in the development of Accord Auberge Chain in the country Greece in the 15-year abiding investment.
Greece is a country in southeastern Europe and with the citizenry 11,295,002 bodies (2010 estimate) which is stood 74th in the world. Its bigger burghal is Athens as a capital. The absolute breadth of Greece is 131,990 km2 which is stood 96th in the world. It has acreage borders with Albania, the Republic of Macedonia and Bulgaria to the north, and Turkey to the east. There are additionally seas awning about about acreage of Greece such as Aegean Sea, Ionian Sea and Mediterranean Sea. Greece has the tenth longest bank all over the apple at 14,880 km (9,246 ft) in breadth and featuring a huge cardinal of islands. There are some Ethnic groups like Greek with a aloft accumulation (93.8%), again the Albanian accumulation (4.3%) and the others (1.9%). In 1829, Greece accomplished adeptness from the Ottoman Empire. From the added bisected of the 19th aeon and the aboriginal bisected of the 20th century, Greece added adjoining islands and territories footfall by footfall and best of citizenry is speaking Greek as an official language. In the Apple War II, it was the aboriginal invaded by Italy (1940) and afterwards active by Germany (1941-1944). Afterwards that, Greece became a affiliate of NATO in 1952 and abutting the EC (now is EU) in 1981; it became the 12th affiliate of the European Bread-and-butter and Monetary Union in 2001. “In 2010, the anticipation of a Greek absence on its euro-denominated debt created astringent strains aural the EMU and aloft the catechism of whether a affiliate country adeptness voluntarily leave the accustomed bill or be removed.” (Greece, 2010)
The Political System
Greece is accustomed as a country of aldermanic Republic which is based on the legislative, controlling and administrative power. And in the Republic of Greece, the architecture is the accomplished law.
“The President’s Republic of Greece who effectively has ascendancy and controls the functions of the adeptness of the Accompaniment is anon Karolos Papoulias” (CIA). He was adopted by Aldermanic for a appellation of bristles years and his appointment is adverse with any alternative office, position or function. To become a president, the being allegation be adopted and should accept a two-thirds majority of the absolute cardinal of associates of Parliament. He selects and assigns authoritatively the Prime Minister, and he can acclaim and accredit the blow of the associates of the Government and the Duty Ministers. (Greece, 2010)
“The government includes the Cabinet which comprises the Prime Minister and Minister. According to the accoutrement of the architecture and laws, the government determines and directs the accustomed action of the State”. (CIA)
“Greece has become a affiliate of few all-embracing organizations such as the United Nations and the All-embracing Bank for Reconstruction and Development (known as Apple Bank), the All-embracing Monetary Fund (IMF), the Apple Trade Organization, and the Organization for Bread-and-butter Cooperation and Development. Moreover, Greece is additionally a affiliate of the European Union (EU), the Arctic Atlantic Treaty Organization (NATO)”. (cia)
This abstraction looks into the factors that explain the macro-economy of Greece by accomplishing a abysmal research. The purpose of this analysis is to booty a attending and assay the accustomed bearings and analyze how it is these days, while bread-and-butter crisis and additionally to adverse with alternative countries. Action aback to the accomplished in 1829, Greece accomplished adeptness from the Ottoman Empire. The abridgement of Greece is the twenty-seventh bigger abridgement in the apple by nominal gross calm artefact (GDP) and the thirty-third bigger by purchasing adeptness parity, according to the certificate accustomed by the All-embracing Monetary Fund for the year 2008. It is additionally a developed abridgement because of the 22nd accomplished accustomed of active in the world. Besides that, the accessible breadth accounts about 40% of GDP with per capita GDP about two-thirds that of the arch euro-zone economies. The account breadth contributes 75.8% of the absolute GDP, industry 20.8% and agronomics 3.4%. On the aforementioned hand, tourism provides 15% of GDP Greece is the twenty-fourth best globalized country in the apple and is classified as a aerial assets abridgement and is additionally a aloft almsman of EU aid (about 3.3% of anniversary GDP). Afterwards that, Greece abutting the EC (now the EU) in 1981 and it became the 12th affiliate of the European Bread-and-butter and Monetary Union in 2001. This abutting helped the Greece abridgement grew about 4% per year (between 2003 and 2007) due in allotment to basement costs in the 2004 Athens Olympic Games. However, its advance decreased to 2% in 2008 and again the abridgement went bottomward in 2009 and attenuated by 2%, according to the apple banking crisis, abbreviation acclaim conditions, and the abortion of Greece to break the growing account deficit, which was actuated by abbreviation government’s revenues, and added government expenditures (The apple factbook – Greece, 2010). At the aforementioned time, the exports were $18.64 billion (2009) with the consign appurtenances such as aliment and beverages, bogus goods, petroleum products, chemicals and textiles. According to the analysis in 2008, the basal consign ally were Italy (11.5%), Germany (10.5%), Bulgaria (7.1%), Cyprus (6.2%), US (5%), UK (4.7%), Romania (4.4%). While the imports were $61.47 billion (2009) with acceptation appurtenances like machinery, carriage equipment, fuels and chemicals. Through the analysis in 2008, the aboriginal basal acceptation accomplice was Germany (12.1%), again was Italy (11.7%), Russia (7.4%), China (5.6%), France (5.1%) and the aftermost accomplice was Netherlands with 4.7%. From aloft abstracts it is actual bright that the gross alien debt was $552.8 billion according to accomplishment on 30 June 2009. In addition, the accessible debt, aggrandizement and unemployment are exceeded the euro breadth boilerplate while per capita assets is low, the debt and unemployment in 2009 added while aggrandizement decreased. The bulk of accessible affairs was aerial and it has led the country into a banking crisis. Beneath able accountability by the EU and all-embracing bazaar participants, the government has acclimated a affairs that comprises acerbic government expenses, abbreviating the admeasurement of the accessible sector, abbreviation tax elusion, alteration the bloom affliction and allowance systems, and convalescent competitiveness through changes in anatomy to the application and artefact markets. However, Greece still faces with abiding challenges to advance through abnormal reforms. “In April 2010 a arch acclaim bureau assigned Greece debt its everyman accessible acclaim rating, the All-embracing Monetary Fund and Euro breadth governments provided Greece emergency abbreviate and medium-term loans account $147 billion in May so that the country could accomplish debt repayments to creditors. In barter for the bigger bailout anytime assembled, the government appear accumulated spending cuts and tax increases accretion $40 billion over three years, on top of the boxy acerbity measures already taken.” (Greece- abridgement overview, 2010)
GDP (purchasing adeptness parity): $332.9 billion (2009)
GDP (official barter rate): $330.8 billion (2009)
GDP- absolute advance rate: -2% (2009)
GDP-per capita: $31,000 (2009)
Labor force: 4.98 actor (2009)
Labor force -by occupation:
Services: 65.1% (2005)
Unemployment rate: 11.6% (June 2010)
Household assets or burning by allotment share:
Lowest 10%: 2.5%
Highest 10%: 26% (2000)
Inflation: 4.2% (2008), 1.4% (2009), 4.9% (November, 2010)
Investment (gross fixed): 16.8% of GDP (2009)
Industries: tourism, aliment and tobacco processing, textiles, chemicals, metal products; mining, petroleum.
Euros (EUR) per US dollar – 0.7338 (2009), 0.6827 (2008), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005)
GREECE CURRENCY: (Money Greece)
There are no restrictions on the acceptation or consign of bounded or adopted currency. However, aback bodies biking from or to a country alfresco the European Union and backpack the amounts over â‚¬ 10,000 or equivalent, it allegation be declared.
Euro (EUR; attribute â‚¬) = 100 cents. Notes are in denominations of â‚¬ 500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of â‚¬2, 1 and 50, 20, 10, 5, 2 and 1 cents.
“Greece has a presidential aldermanic arrangement and is absolute beneath the architecture of 1975. There are 300 associates of unicameral parliament, which will accept a admiral for a five-year term”. (CIA)
On February 3, 2010, Greek Admiral Karolos Papoulias was re-elected to a added appellation in an centralized vote in parliament. (gfmag)
Political parties: (CIA)
In Greece, there are four political parties include:
Panhellenic Socialist Movement (PASOK)
New Democracy Party
Synaspismos-Coalition of the larboard & Progress
Democratic Social Movement
Greece which has been accustomed to be a affiliate of the European Community (EU) in 1981 and jointed the MU (Monetary Union) in 2001 is seemed as one of the aboriginal bread-and-butter of European’s bread-and-butter area. On January 2002, Greece adopted and started application the EURO as a new accustomed currency. As anon as acceptable a allotment of EU, Greece accomplished to the bargain acclaim which pushed the calm appeal up, and fabricated it as the able basal for bread-and-butter advance averaging about 4% in contempo year. At the aforementioned time, the budgetary behavior additionally accurate the bread-and-butter advance by acerbic taxes and accretion the spending on accomplishment and entitlements deepening the budgetary balance. In addition, the absorption the apprenticed accumulation accommodation and inflexibilities in the calm economic, aggrandizement and labor-cost advance in Greece went over its trading ally and acerbic the competitiveness. “This was the aloft acumen and deepest-rooted vulnerabilities has amorphous from Greece and entered the all-around bread-and-butter crisis”. (wttc)
Greece Bread-and-butter Structure
All the sectors in Greece, the account breadth leads the way both in bringing appear the GDP as able-bodied as employment. “Public breadth additionally earns with about 40% of the civic GDP. Tourism is addition connected and reliable contributor, with 15% allotment of the GDP”. (gfmag)
However, from the 2007-2009 banking recession, the Greece administering has been concentrated on implementing accurateness measures that accommodate abbreviation bottomward government expenses, the admeasurement of accessible breadth and reorganizing the alimony breadth to accomplish faster accretion and aggravating to cut bottomward accessible debt which has developed bigger than the GDP. “According to the 2009 data, accessible debt is as aerial as 108.1% of the country’s GDP”. (gfmag)
Greece Bread-and-butter Structure: Primary Sector
The primary breadth of Greece is said too abundant as the account sector. With tourism appropriate at the controls the account breadth has went over all alternative sectors in agreement of addition to the GDP. “According to the 2009 data, Greece account breadth has contributed about 75.8% to the civic GDP and provided 65.1% of job for workforce. Account breadth includes professions, such as artery vendors, auberge and abode industry, accessible administering and telecommunications”. (wttc)
Greece Bread-and-butter Structure: Secondary Sector
The industry breadth has been bringing about 20.8% of the civic GDP and hiring 22.4% of workforce. In Greece, Athens is the alone burghal with the accomplished absorption of industries. The affidavit appearance a aberration from connectivity to affluence of transportation. The altered Greece industries accommodate mining, petroleum, aliment and tobacco processing, metal products, bolt and chemicals.
Greece Bread-and-butter Structure: Tertiary Sector
The agronomics breadth becoming about 3.4% into the GDP and pulled up 12.4% of the country’s assignment force (gfmag). However, because of the abridgement of accustomed assets and cultivatable land, Greece is not able to abound its abundance of assembly considerably. The basal agronomical articles are wheat, barley, amoroso beets, corn, wine, tobacco, olives, tomatoes, potatoes; beef and dairy products. Beside all agronomical articles and fruits, olive oil is additionally the top accept contributed articles to civic export.
On the alternative hand, there is a annoying affair for all sectors are the absolutely accretion unemployment, which according to the 2009 data, stands at 8.9%. Alike added adverse are the atomic investments. In 2009, the investments were abstinent to be as low as 15.6% of the GDP. (gfmag)
Why was Greece in the bread-and-butter crisis?
For years ago, Greece has been spent a lot of money while it didn’t have. So that, the government has taken the advantage of the bread-and-butter at the acceptable time to borrow money and spent it on pay-rise for accessible breadth and projects such as the 2004 Olympic. Due to those reasons, it began to accrue bigger and bigger arrears (the gap agency the ambit amid how abundant a country aggregate from tax, and what it spends).
When the apple bread-and-butter went bad, Greece faced and suffered the debt and was clumsy to pay back. At this time, banks started to appearance Greece as a country which cannot to be able to administer its money. This led to aftereffect is they afraid Greece can eventually abort in advantageous its loans, and alike in worse case action to bankrupt. Besides that, banks gave out solutions to awning the accident such as they absitively to allegation Greece to borrow banknote and this fabricated the bearings of Greece added abominably and worse. Finally, the government that went to attractive for the advice from alternative European countries such as Greece adopted 110 billion Euros from alternative EU countries and IMF (International Monetary Fund) on May 2010. According to the advice of Banking Minister of Greece, the nation debt which is at 300 billion Euros ($413.6 billion) is bigger than the country’s economy. With this bulk of this debt, it is estimated admiration that will adeptness 120% of (GDP) Gross Calm Artefact in 2010. That money was loaned at a abundant bigger rate; about it has appear with catchy conditions. Such as in 2010, the government has started to cut bottomward spending and implemented accurateness measures which are aimed to abate the arrears by added than 10 billion Euros ($13.7 billion). This action advised to allegation taxes on fuel, tobacco and alcohol; added the retirement age by two years; afflicted accessible breadth pay cuts and activated boxy new tax evasion. Otherwise, according to Greece’s civic statistics office, the Greece bread-and-butter shrinks 1.8% as customer cut bottomward spending and clandestine burning alone 4.2% year-on-year.
After government has taken accomplishments of absolute the banking crisis, it is those cuts that accept led to the riots in Athens. There has been admonishing of attrition from assorted sectors of society. “This was illustrated that workers central country accept stroked closing airports, government office, courts and schools. Greece’s acclaim appraisement – the appraisal of its adeptness to accord its debts – has been downgraded to the everyman in the Eurozone which agency that it is acceptable beheld as a banking atramentous aperture by adopted investors. This leaves the country Greece to be demanding for advantageous its bills as absorption ante on absolute debts rise”. (nationsencyclopedia)
Greece is accustomed as a basic of all-embracing narcotics sell-buy activity. It takes abode as a acting destination for cannabis and heroin from the Middle East and Southwest Asia apprenticed for destinations in the West, as able-bodied as forerunner chemicals traveling east. It is additionally a hot point and a final destination for South American cocaine. Drug trafficking has taken a allotment to accord to the advance of addition adulterous industry in Greece: money laundering. Alfresco of narcotics accompanying angled activity, annexation is adequately accustomed in Greece, absolutely in areas frequented by tourists.
“The Revolutionary People’s Struggle (ELA) and the Revolutionary Organization 17 November (17N), were accustomed and appeared in the 1970s with the assumption cold of acquisition the cardinal Greek aggressive by application a attack of violence. Both organizations developed a absolutely anti-Western bent, espousing action to Greece’s accord in the Arctic American Treaty Alliance (NATO) and later, its associates to the European Union, as able-bodied as calling for the abatement of United States aggressive bases in Greece’ (CIA).
The blackmail of agitator abandon is seemed to be from calm rather than adopted countries. As agnate with the insurgencies above, the Revolution people’s Struggle (ELA) and the Revolution Organization 17N which are seemed as agitation organizations. They can blackmail the accord of EU accumulation in accurate and the apple in general.
Although Greece has a lot of problems about security, banking crisis bearings but it has a acceptable advantage which is the cardinal location, able workforce, and abounding bunch companies for archetype Ericsson, Siemens, SAP, Motorola, and Coca-Cola which accept their own bounded R&D Headquarter in Greece..
“Greece adopted a new architecture on June 11, 1975, as allotment of a acknowledgment to absolute attempt afterward the end of the aggressive administration of 1967-1974. The new architecture was accustomed in Greece as a Aldermanic republic with a anemic admiral confined as arch of state. While the architecture distinguishes and recognizes religious freedom, Orthodox Christianity is accustomed as the “prevailing adoration in Greece,” and the Greek Orthodox Church enjoys appropriate built-in protection” (CIA).
“Legislative ascendancy is accepted adeptness in a unicameral parliament, the “Vouli ton Ellinon,” currently is included of about 300 associates adopted for best four-year terms” (CIA). The assembly will accept the admiral by a two-thirds greater allotment of all members. “If afterwards two attempts, no applicant for admiral obtains the appropriate majority again the assembly may accept a admiral by a three-fifths majority of the associates voting” (CIA).
Acid rain is not alone a acclaimed affair in the world, but it is additionally the important affair which has been demography abode in Greece. Acerbic rain is seemed as a austere affair in Greece because it affects both agronomics aspects of the environment, and Greece’s lakes and Greece people.
Besides acerbic rain, there are assorted ambiance issues which abide of:
Air pollution: the account is from CO2 discharge (wikipedia.org)
Petroleum based (mm mt)
Natural Gas based (mm mt)
Coal based (mm mt)
Total CO assembly (mm mt)
Total Greenhouse Gas Emissions
Country Rank (GHG output)
Greece belongs to EU which brings a lot of advantages such as chargeless movement of goods, chargeless movement of capital, chargeless movement of casework and “the countries of the EU all brainwash the aforementioned alien assessment on all the appurtenances entering their market. Once the appurtenances are in the ambition market, they cannot be burdened any added than they already have.” (European Union Member)
“A affiliate of Arctic Atlantic Treaty Organization” (NATO)
Well accomplished 97.1% Articulacy bulk (List of countriies by articulacy rate, 2009)
Greece is a accepted destination for day-tripper – Greece has been an allure for all-embracing travelers aback antique for its affluent and continued history like Greece belief and for its august Mediterranean bank and beaches.
“A accustomed bill – Greece uses EUR or â‚¬ which is the added bigger assets bill and the added best traded bill in the apple afterwards the U.S dollar”. (A accustomed currency)
Greece has a huge debt accountability that afflicted to the Euro bill and could abate Greece’s adeptness to accommodate casework to their people. Therefore, added taxes and attenuated state-sponsored casework are the band-aid to this debt problem. However, this band-aid affects businesses and consumers adeptness to acquirement appurtenances and services.
Society is not assurance and stable. There are aloft affidavit advance to unsecure of Greece and people’s allowances were cut by government one of them. Thus, it led to “Strikes And Bombs In October, in a move that provided for a abrogating appulse on the tourism sector, Greek anarchism badge acclimated breach gas to bright arresting agents blockading the Acropolis, the country’s best acclaimed age-old site. Two doubtable bales were additionally detonated by badge at the burden terminal of Athens Airport.” (Greece Tourism Report Q1 2011, 2011). And baby bombs exploded at the Swiss and Russian embassies in Athens, it was begin and abort by badge on November, 2010.
They can accomplish added adopted markets
They can allure added tourists
Information technology (IT) development – IT advance can actuate Greece’s abridgement and accomplish jobs and acquirement for the government.
Collapse about Bread-and-butter – The recession, alike has not broke the accomplished bread-and-butter system, but already had a huge appulse on the abridgement of Greece. The collapse of altered economies as able-bodied as all-around crisis fabricated Greece’s trading ally abatement into bad situations so that the exports will be reduced.
Because of its huge debt these years, Greece faced the ascent inflation. Therefore, investors may feel that the bread-and-butter is not ensuring for them to advance in here.
Fiscal Acerbity programs: Abounding governments all over the apple will abate costs and accession taxes to abstain budgetary deficits that rose during the banking crisis. These programs will abatement government costs in the economy, which will abate advance rates. The abhorrence is that abbreviation adeptness be so abundant that they can affect the economy.
“Greece which is a admirable country attracts about added than 16 actor tourists per year, appropriately it earns and contributes about 75.8% to the civic GDP and provides 65.1% of job for workforce”. (wttc) As accustomed that the tourism basement in Greece has been bigger and invested aback the 2004 Athens Olympic Games and will continuously focus on accretion the cardinal of important projects. Hereby, there are the accomplishment table of cardinal of auberge in Greece was classified:
“Hospitality auberge acquirement in the Athens regions went bottomward by aloof over 6% year-on-year in the aeon January to August 2010. While the acceptable aerial division was from July to August, both three – and four-star hotels additionally accept appear acerb decreased in acquirement per accessible room. The boilerplate allowance control bulk was at 57.7% with acquirement per accessible allowance at EURO 63.14 over eight-month period. Added contempo abstracts for September appearance that Athens hotel’s control alone substantially, falling 10.3% compared with the aforementioned ages 2009, with ante bottomward about 7% year-on-year for the aboriginal nine ages of 2010”. (reportlinker)
According to the advice of Civic accomplishment abettor and GBR Consulting and FianacialTimes in Greece, “the all-embracing accession in 2010 at Athens airport has decreased by 3% which compared to 2009. The achievement of accommodation industry in 2010 has showed that the RevPAR of all hotels in Athens Burghal has decreased by 7%, in Thessaloniki by 12.9%”. (FinancialTimes) (wttc)
However, presently, due to the political arrangement has been ambiguous and the banking crisis has been occurred in Greece, this led the association has been afflicted and in an alarming situation. According to account on websites of CNN.com and BBC.com, “on October 2010, the ages with strikes and bombs which happened usually impacted on the tourism breadth so much. Greece badge had to use breach gas to annihilate the anarchism of the arresting agents blockading the Acropolis which is the country’s best acclaimed age-old site. On the abutting ages of aforementioned year, at the Swiss and Russian embassies in Athens Burghal there were baby bombs exploded, and alternative apprehensive bales were additionally apparent and destroyed by the authorities. Besides that, at the burden terminal of Athens Airport, the Greece badge exploded two doubtable packages” (bbc). This is seemed as the agitator accomplishments which accept been taken place. And as predications, the riots and strikes will always be demography abode and alien aback it will end.
This is a aftereffect of a country which acclimated to absorb a lot of money while it didn’t have. And it had to borrow money from alternative countries and organizations for absolute its own debt.
Based on advice we begin and analyzed as above, although Greece which is actual admirable and attracts a lot of tourists from over the apple is active from tourism but we acquisition that there are absolutely three credibility which accomplish the country Greece is not a acceptable country to advance the auberge business.
Firstly, the government arrangement and community are not abiding and there are conflicts amid political parties
Secondly, due to the ambiguous of the political arrangement and banking crisis are still happening, this advance to the alarming in society. This is illustrated that anon there are abounding riots and strikes are demography abode in Athens City.
The aftermost but not least, in society, the crime, the agitator and the affront is the best cephalalgia problems which Greece government has to face.
For those problems, they affect to our advance action in Greece. Because at the moment, Greece still owes a huge debts from European countries and IMF (international Monetary Fund) with blow altitude of borrowing and can abort in advantageous back. Therefore the government has added and anchored the taxes on fuel, booze and etc; added the retirement age by two years; afflicted accessible breadth pay cuts and activated adamantine new tax.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more