Earlier quoted context omitted.
Those low-wage tourist-oriented businesses are making crazy high margins and paying workers peanuts. Beaches keep getting gobbled up by multimillion-euro hotel complexes (unconstitutionally) so they can make money hand over fist by taking advantage of public property (with the appropriate kickbacks to the local politicians), while the local economy benefits minimally from whatever minimum-wage jobs are created in the…
> Those low-wage tourist-oriented businesses are making crazy high margins and paying workers peanuts. They are really not. I looked into this in 2019, when I was making a backup plan to get an investor visa in the EU. You can buy a hotel business in Greece for basically peanuts, but it is almost impossible to make _any_ profit without resorting to shady tactics. That's also why large chains can move in so easily. Th…
Shows profitability for tourism around 20% in New Zealand - although that's on the back of some pretty crappy service jobs.
Elsewhere in the report it implies that the government makes more than 20% (15% sales tax GST, plus other taxes).
I'm not a huge fan of tourism as a sector because it's so cyclical and paid service to tourists is often unpleasant. Although tourism is likely better than some other export earners... But tourism is a more significant earner for Greece: ouch.