Greece’s tourism model and the transition to a more innovative economy

While summer may be winding down, water scarcity, overcrowded streets and rising housing costs are infuriating locals across southern European countries – especially those that rely on tourism. Greece is no exception, and we are seeing reactions to overtourism not only on Greece’s top island destinations, but also in cities like Athens. Professor Dimitris Vayanos joins Thanos Davelis to look into Greece’s reliance on tourism and explore whether it is time for Greece to change its tourism model, improving what is a vital product for the country while transitioning to a more innovative economy. 

Dimitris Vayanos, is a professor of finance at the London School of Economics, the co-editor of the book “Beyond Austerity: Reforming the Greek Economy,” and a member of the Pissarides Commission which developed a growth plan for Greece at the request of the Greek government.