Half a Billion Euros in Damage to Greece From the Bankruptcy of Thomas Cook

About half a billion euros have been lost to Greek tourism by the bankruptcy of British tourism company Thomas Cook, Kathimerini reports, citing an interview with Greek Tourism Minister.

He announced new measures by the government to soften the effects on the industry, according to BGNES.

"If Thomas Cook's collapse had not occurred, the year would have ended with revenues around EUR 500 million higher than in 2018, and with a significant increase in average spending (of tourists in the country)'', he said.

The minister said the main concern of the government was to support companies and employees in the sector affected by the bankruptcy of the British tour operator.

Among the support measures listed by the Greek Tourism minister is a special program of the Organization for Employment of Labor Supporting Jobs, delaying with 6 months the payment of VAT in proportion to the percentage of turnover of each company with the bankrupt company and supporting the affected companies through Greek Development Bank.