Greek crisis cuts the cost of holidays

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The cost of a holiday to Greece has dropped dramatically as holidaymakers avoid travelling to the troubled country.

The Express reports that tour companies have slashed prices to encourage holidaymakers to visit Greece and both Thompson and Thomas Cook say that they have contingency plans in place to cope in the event of a Greek euro exit.

Tourism accounts for 15 per cent of total output and one in five jobs in Greece, but strikes and riots have scared visitors off, and there is also concern that holidaymakers could face serious problems if Greece is pushed out of the euro.

The consumer group Which? has advised holidaymakers to book a package trip which would protect them from any trouble. However, tourism officials in Greece has promised that visitors will be able to make financial transactions as normal through the summer.

These concerns have had a direct effect on prices: Thomson is offering seven nights in Thassos for £155 per person, which represents a saving of £331. Big discounts are also being offered for other countries involved in the eurozone crisis, such as Spain and Portugal.

Airtours is offering seven nights in Ibiza from £369 each, a saving of 39 per cent, or a week in Albuferia, Portugal, from £579, a saving of 40 per cent.

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