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Germans Just Say No To Greek Tourism, As Holiday Bookings Plunge By 30%

Tyler Durden's picture





 

The last time we looked at the Greek tourism industry or what's left of it, ironically so very reliant on German tourists, we observed that receipts from this very critical to Greek tax receipts industry would likely drop to under €10 billion - a big hit to government revenues just when they are most needed. Needless to say, ongoing political chaos, a rise in anti-German sentiment, and a resurgent neo-nazi political power are not helping things. Sure enough Ekathimerini reports that German bookings continue to be in free fall: "German bookings for holidays in Greece have slumped by almost a third so far this year, a German Sunday paper quoted a Thomas Cook executive as saying. "By the beginning of the Summer season, booking numbers for holiday in Greece in the German travel industry have been 30 percent below the year-earlier figures," Euro am Sonntag cited the head of tourism at Thomas Cook's German unit, Michael Tenzer as saying in an excerpt of an article made available to Reuters on Saturday."

A brief pick up in bookings was promptly doused once it became clear that the country could be stuck in an endless cycle of elections that produce no winner, but sure do produce a lot of uncertainty and chaos: "There had been an improvement up to the Greek elections in May, but with a looming reelection, talk of a euro exit and pictures of violent protests in cities, fears among Germans have returned, he added." Unfortunately, unlike Amazon, margins may be negative, but volume won't make up for the difference: "This was despite heavy discounts. Thomas Cook, for its part, was passing along to Greece-bound holiday makers discounts of up to 20 percent given by hotels and airlines, Tenzer was quoted as saying." The punchline: "Germany's biggest tour operators in March called on its nation's holidaymakers to ignore anti-German sentiment in Athens and take trips to Greece's islands, after booking numbers plunged at the start of the year."

In other words: ignore everyone's murderous rage at you and everything you represent - just go and have fun in the water. Yeah... Didn't think so.

 


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Mon, 05/21/2012 - 06:51 | Link to Comment Boilermaker
Boilermaker's picture

Rioting and anarchy don't blend well with the 'fun in the sun' package at the beach side resort?

What if I throw in free parking and internet?  OK, OK...and HBO.  But that's it!  Take it or leave it!

Mon, 05/21/2012 - 07:04 | Link to Comment Colombian Gringo
Colombian Gringo's picture

The Greeks need to re position the way they market to the Germans. Instead of promoting anal sex, they should start wearing leather, carrying whips and asking to be beaten.  A bid of Bondage and Discipline mixed in with fun in the Sun should do it. 

Mon, 05/21/2012 - 07:10 | Link to Comment Nussi34
Nussi34's picture

The turks provide cheaper anal sex and you can pay in Euros too!

Mon, 05/21/2012 - 08:08 | Link to Comment prole
prole's picture

Are you guys sure you're on the right blog?

Mon, 05/21/2012 - 08:14 | Link to Comment DeadFred
DeadFred's picture

The SEC has it's people monitor ZeroHedge regularly I see.

Mon, 05/21/2012 - 08:50 | Link to Comment knukles
knukles's picture

Tourist:  Gut morgen.  Meine nammen est Willy.  Habben ze zur roomen?
Greek taverna owner:  Opa!  Where-a you-a fromm-a?
T: Germany.

T: OUCH

 

 

 

 

 

Mon, 05/21/2012 - 09:14 | Link to Comment Colombian Gringo
Colombian Gringo's picture

@prole, are we on the right blog

 

Sure we are.  ZH is an advanced finance blog. High finance is about coming up with complex schemes to ratfuck your customers. So ZH is all about sex. QED

Mon, 05/21/2012 - 10:16 | Link to Comment prole
prole's picture

I was just kidding bro, I'm still laughing at your comment.

You have also created a new sub-category of deviency: BD/FS

The only smart Gringos, are the ones already in Colombia. I hope to be there, or Thailand sometime before they lock this prison down.

Mon, 05/21/2012 - 07:05 | Link to Comment Prometheus418
Prometheus418's picture

Throw in free breakfast, some drink tickets, and a gas mask, and you've got a deal....

Mon, 05/21/2012 - 07:37 | Link to Comment Sudden Debt
Sudden Debt's picture

and a riot gun with a family pack of buckshot to enjoy the evenings

Mon, 05/21/2012 - 11:02 | Link to Comment noses
noses's picture

Wouldn't that rather look like the package for the real Redneck? 

Mon, 05/21/2012 - 07:22 | Link to Comment Sudden Debt
Sudden Debt's picture

2 weeks ago a Dutch tourist got killed by drunk Greeks who blamed him for the austerity. that's called blind hate. Now who would go there with their kids? Even if prices are dropping. Spain is cheap to.

 

And looking to Tylers adds of Thai and Filipino woman who constantly pop up here... I was thinking of going to Azia this year :)

 

Mon, 05/21/2012 - 08:14 | Link to Comment prole
prole's picture

I bet Greece in the middle of a riot is still safer place for a tourist than US on its best day

 

http://www.dailymail.co.uk/news/article-2118785/Shawn-Tyson-said-murdere...

I wish I could see those lovely Thai Ladies, the only ad I get is one enticing me to have a dinner with some guy named Barak, or Borat or something

Mon, 05/21/2012 - 08:52 | Link to Comment knukles
knukles's picture

 

 

 

 

Those

are

not

female.

Mon, 05/21/2012 - 08:21 | Link to Comment Silvarouvres
Silvarouvres's picture

The guy isn't dead...a broken nose and jaw isn't lethal. However 2 guys in their 30/40s ganging up to beat up a 78 year old local resident of dutch origin is pathetic. They were drunk so they still had enough money to buy some ouzo. And put some gas in the *SUV* in which they fled the scene afterwards. They got caught however.

http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_14/05/2012_442114

Mon, 05/21/2012 - 09:16 | Link to Comment boogerbently
boogerbently's picture

They know people on vacation have enough money for a vacation.

And they blame the WORLD for their problems. Greece has really shot itself in the foot, here.

Mon, 05/21/2012 - 17:05 | Link to Comment koperniuk666
koperniuk666's picture

come to switzerland.

you won't get stabbed

and you can get anal sex if you want.

just have to be in bed by 8pm

Mon, 05/21/2012 - 06:50 | Link to Comment sunnydays
sunnydays's picture

Part of the tour package.... anti Euro banners, masks, rocks....   You get all of that with your hotel and armored car as part of your payment of a luxury tour of Greece.  Don't know why they wouldn't be filling up the tour packages.

 

 

Mon, 05/21/2012 - 06:53 | Link to Comment writingsonthewall
writingsonthewall's picture

Also - get this message out - to all muppets.

 

Let me tell you why Facebook is doomed.

 

A friend of mine makes internet sites for small businesses - and a few weeks ago he was showing me how he puts them together.

They all want this 'social media' thing - so they have the usual twitter and facebook 'friends' to show satisfied customers.

The thing is YOU BUY these accounts, for a few $'s you can have 500 instant 'friends'. These accounts have no real people behind them, they are just dummy accounts - often created by computer programme.

 

They all claim to have 'real targetted fans' - but I have seen the accounts sent from one of these companies - they are all fake, not a single one was real. There was one Arab lady with the name 'Mark Davies'!!

Facebook include these accounts in their 900 Million users. They will NEVER click an advert, NEVER play a facebook game and NEVER engage in any pay activity with facebook.

Here is an example

http://gettyfans.com/services/facebook-marketing-services/facebook-fans-...

The numbers are bullshit - check out the link and see for yourself - or go searching - they are not too hard to find.

Mon, 05/21/2012 - 07:40 | Link to Comment Colombian Gringo
Colombian Gringo's picture

I guess you must be short FB.

Mon, 05/21/2012 - 09:26 | Link to Comment writingsonthewall
writingsonthewall's picture

No - I don't gamble.

Sadly your presumption (which you hoped would show bias) is not going to work here.

 

In fact I liquidated my last positions last week - I have no interest in facebook.

 

What I do know is a doomed stock when I see one - nothing to do with market fundamentals / pricing / support or any other shit.

 

This is about TECHNOLOGY and I know it very well - well enough to see the (already gaping) achillies heel in this stock.

 

...but prove me wrong - buy with both arms today - you can get it for less than $16 at the end of the week.

Mon, 05/21/2012 - 09:35 | Link to Comment Colombian Gringo
Colombian Gringo's picture

I wouldn't touch FB with your dick.

Mon, 05/21/2012 - 07:11 | Link to Comment Hobbleknee
Hobbleknee's picture

Why are there no Asians or handicapped people in that picture of diversity?

Mon, 05/21/2012 - 06:55 | Link to Comment Dr. Engali
Dr. Engali's picture

Now I why in the world would Grman's not want to go to Greece? It couldn't possibly have anything to do with the fact that the Greeks keep referring to Germans as nazis just because the Germans want a little fiscal discipline for funding the Greek's over spending. Could it?

Mon, 05/21/2012 - 06:58 | Link to Comment Boilermaker
Boilermaker's picture

They did not use the word Nazi.  They used the more modern neo-nazi.  They don't want to offend any of the old school nazi regime.

Mon, 05/21/2012 - 07:12 | Link to Comment Nussi34
Nussi34's picture

Nazis 2.0 = EU bureaucrats

Mon, 05/21/2012 - 08:18 | Link to Comment prole
prole's picture

Correction sir,

Bolsheviks 2.0 = EUSSR bureaucrats

Mon, 05/21/2012 - 07:04 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Sensationalist bullshit aside, most Greeks know they were given rope to hang themselves by entering the EZ to lower borrowing costs -- which they promptly did -- only to lose themselves in the credit expansion trance that took over for a period. No great sin, most were guilty of this world-wide.

How this is immediately pinned on German bookings is beyond me.

Mon, 05/21/2012 - 10:38 | Link to Comment AgShaman
AgShaman's picture

"Jeen-yoos....Jeen-yoos"

According to some Greeks....it's a trap that's been sprung, and conjured long ago.

While I doubt the validity....this guy is a bit funny in his hero worship of "his people".

Rest of the world....."you're welcome"

http://www.youtube.com/watch?feature=player_embedded&v=Zvl9N9GdraQ

Mon, 05/21/2012 - 06:55 | Link to Comment Mister Ponzi
Mister Ponzi's picture

But to be fair, last year's figures were far above the numbers from two years ago. Last year, it seemed almost everybody in Germany was heading to Greece for holidays.

Mon, 05/21/2012 - 07:33 | Link to Comment Dr. Engali
Dr. Engali's picture

I don't buy that comment. I remember  a similar headline last year.

Mon, 05/21/2012 - 07:51 | Link to Comment Mister Ponzi
Mister Ponzi's picture

You can look it up on a number of websites: The number of Germans travelling to Greece in 2011 increased by around 10% YOY. Although, I admit, that the overall number of 2-2.5 million German tourists is far from "almost everybody" as I wrote in my first comment.

Mon, 05/21/2012 - 11:07 | Link to Comment noses
noses's picture

Regarding the fact that there aren't that man German tourists interested in Greece anyway and the fact that even the German government tried to get people to spend holidays in Greece this didn't even offset inflation. But who cares? The Greeks told the German tourists they weren't welcome and the tourists are going somewhere else. Big deal.

Mon, 05/21/2012 - 07:10 | Link to Comment Zero Govt
Zero Govt's picture

and now the political shitshow hits tourism (having already laid waste to banking, property, healthcare, education, energy, transport, agriculture, fishing and lightbulbs)

remember fokes these are the guys bringing "Law & Order" and "Economic Management" to your nation and let's not forget, "European Integration"

Govt: a very sick joke on all of us

Mon, 05/21/2012 - 06:58 | Link to Comment cnhedge
cnhedge's picture

Are concerns over a Greek Euro exit overdone ?
http://www.cnhedge.com/thread-4852-1-1.html

Mon, 05/21/2012 - 07:38 | Link to Comment THX 1178
THX 1178's picture

...no.

Mon, 05/21/2012 - 06:58 | Link to Comment Motorhead
Motorhead's picture

Good for the Germans.  Prost!

Now, as for alternative vacation plans, there's always the "17th German state", Mallorca.  I also believe Frankfurt has non-stop service to Detroit.

 

Mon, 05/21/2012 - 07:09 | Link to Comment Zero Govt
Zero Govt's picture

Detroit? ...an economic wasteland alot like Greece

...socialism strikes again

Mon, 05/21/2012 - 07:59 | Link to Comment Monedas
Monedas's picture

I think we share the same "lone wolf" detractor ?  It's fun poking Socialist's "Taint Boils" ?    Monedas   1929     Comedy Jihad Make My Day....Annoy A Liberal !

Mon, 05/21/2012 - 06:59 | Link to Comment Withdrawn Sanction
Withdrawn Sanction's picture

Well I guess that means there'll be 60% more chaises available poolside and at the beaches...

Mon, 05/21/2012 - 07:02 | Link to Comment Poor Grogman
Poor Grogman's picture

This is bullish for the crowds at Octoberfest!

Long German beer makers!

Edit on the other hand it will take longer to get a drink...

Mon, 05/21/2012 - 07:01 | Link to Comment Poetic injustice
Poetic injustice's picture

No worries, they can make it up with more Russian bookings.

Many Russian tourists also stayed in Egypt, enjoying overall anarchy.

Mon, 05/21/2012 - 07:03 | Link to Comment Ljoot
Ljoot's picture

So the GREXIT caused GEREXIT.

 

 

Mon, 05/21/2012 - 07:12 | Link to Comment tawse57
tawse57's picture

Only dropped by 30 percent!? That means that 70% of the German tourist market for Greece still think they will have a warm welcome!

The numbers of Germans who bought second homes in Greece is staggering. I suppose the Germans must be going to Greece to check that their holiday homes have not been burnt down!?

Mon, 05/21/2012 - 11:08 | Link to Comment noses
noses's picture

The welcome will probably warm thanks to hot Russian cocktails (Molotov brand, I believe).

Mon, 05/21/2012 - 07:15 | Link to Comment Croatian Patriot
Croatian Patriot's picture

YES: More Germans in Croatia this summer

Mon, 05/21/2012 - 07:25 | Link to Comment shovelhead
shovelhead's picture

Waiter:

"Would you care for a Molotov cocktail before dinner, Sir? Complements of the house."

Mon, 05/21/2012 - 07:33 | Link to Comment Bag Of Meat
Bag Of Meat's picture

You keep referring to an anti-german feeling in greece,affecting tourism. Who told you there is one,the greek media? This is bullshit. The feeling is against anyone fucking greece over, and the middle class german tourist is not one of em- everyone knows it. But then again when media keep reproducing "news" about anti-german feelings they end up coming true.

Mon, 05/21/2012 - 07:46 | Link to Comment Poetic injustice
Poetic injustice's picture

In fact, German media reports it even harsher:

http://www.spiegel.de/reise/europa/tourismusbranche-griechenland-buchungen-brechen-um-50-prozent-ein-a-834135.html

So nice number 50%, you can read more in details in article or put it in Google translator.

Mon, 05/21/2012 - 14:13 | Link to Comment Bag Of Meat
Bag Of Meat's picture

I don't mean there isnt a drop in tourism. All i'm saying is that there is no such thing as "anti-german feeling" , its just another creation of the media promoting nationalism .

Mon, 05/21/2012 - 08:04 | Link to Comment Monedas
Monedas's picture

North Korea is just beginning to discover it's modest tourism possibilities !  The emphasis will be on targeting Korean war veterans to revisit battle sites....like Viet Nam is doing !   A Pyongyang Disney World is still only a dream !    Monedas   1929    Comedy Jihad We'll Leave "The" Light On For Ya' !     PS:  Proposed trinkets for the tourists:  Battle field bone chips preserved in a glass marble attached to a key chain ?

Mon, 05/21/2012 - 07:55 | Link to Comment ArrestBobRubin
ArrestBobRubin's picture

Again with the neo-nazi silliness Dan?

I see... So, with Greece going "nazi", one would think they'd LOVE Germans, no?

You want neo-nazi's? I think you know where to find the latter day genocidal maniacs of the New Master Race.

And it sure ain't named Greece.

Mon, 05/21/2012 - 09:19 | Link to Comment Apeman
Apeman's picture

Their precious Union sure doesn't appear to be doing a great job at uniting the people. If anything, it's doing the exact opposite.

Mon, 05/21/2012 - 10:10 | Link to Comment Chaos_Theory
Chaos_Theory's picture

No worries....they come back soon with  Leopard II tanks and Tyhoon bombers, and lots of Windex!!!!!

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