Alex Vyzantiadis, owner of Kyklos Travel, one of the biggest travel agencies in Athens, which mainly operates with tourists from South America, believes that capital controls is not what foreign visitors fear most. According to Mr. Vyzantiadis, in 90 percent of cases and especially for the "all inclusive" packages category, tourists are paying with "plastic money," so they will not be affected by what is going on with Greek banks.
"Tourists who get in touch with me are asking about the situation in the country and whether there will be unexpected events, such as demonstrations, shortages of products, vandalism and other incidents that will spoil their holidays. Although we do not have last-minute cancellations, many of our clients are expressing concern," Vyzantiadis said.
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But the problems do not begin or end with capital controls concerns. The uncertainty of the recent months has affected the liquidity of Greek tourism enterprises because their partners, foreign tour operators, do not pay on time.
"For a tourist who will come to Athens in July, the deposit must be paid in March and the rest of the payment in June. However, due to uncertainty, payments are delayed. The tourist does not pay his agent on time, and likewise, the agent does not pay us in time. When arrears accumulate, operational problems in businesses multiply. The costs from last-minute cancellations will take gigantic proportions if today's negotiations lead to deadlock," Vyzantiadis said indignantly.