During the crisis period, the tourism industry – like all other sectors of the Greek economy – was forced to operate in an environment of increasing tax burdens, which affects competitiveness.
The Bank of Greece has repeatedly pointed out this issue and has stressed that fiscal 6/7  BIS central bankers' speeches  adjustment should focus on reducing public spending rather than increasing tax rates. Equally important, though, are the adjustment gains to be achieved through a more effective use of public property and through privatisation.