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Title: A Tourism Satellite Account assessment of the impact of cruise industry on the greek economy
Authors: Diakomihalis, Mihail N. 
Lagos, Dimitrios 
Keywords: Λογιστική;Accounting;Τουρισμός;Tourism;Κρουαζερόπλοια--Οικονομικές απόψεις--Ελλάδα;Cruise lines--Economic aspects--Greece
Issue Date: 2009
Abstract: The cruise industry is a sub-sector of maritime tourism and it constitutes a dynamic market with substantial investments being made world-wide mainly on port facilities as well on the shipbuilding of luxurious cruisers. Cruising is a Special Interest Tourism showing robust growth rates during the last two decades worldwide. The cruise is a multi-complex concept and combines a large part of the so called “tourist chain”: transport, catering/provisioning, tourism, entertainment, and travel (Wild & Dearing 2000). Greek cruising originated already in the decade of 1930, when the first Greek cruise companies offer cruises in the Aegean and the wider area of the Mediterranean. By 2003 there were nine ships under Greek flag and almost 25 Greek owned. The Greek cruise sector operated under cabotage protection till 1999. The abolishment of cabotage was confronted in contradictory ways by Greek ship owners as well as by other Europeans. The E.U policy aimed at establishing markets free from the state’s interventionism and protectionism and at the same time at creating more competitive conditions in order to facilitate the access by all companies (Lekakou et al. 2003). Nevertheless, Greek cruising is present and follows international trends The contribution of the sector to the national economy depends on the level of expenditures realized by the “producers” and “consumers” of the cruise industry. The questions therefore that need to be answered through this research are: • What do visitors buy and which industries are most affected by these purchases? • Who are the main visitors (that is. households, businesses, government employees or non-residents)? • How many people are employed in the cruise and related tourism industries? • How much capital formation has been undertaken by the cruise industry? The paper examines the contribution of the Cruise sector to the Greek Economy and estimates the economic impacts on the major macroeconomic values for the year 2004. The aim of the analysis is to investigate the way and the degree in which the cruise activity contributes to the national economy. The research reveals a basic problem: the relevant weakness of public services and private sector in providing data, concerning specific shipping activities, such as the cruise sector. The data obstacle became higher since cruising is not an immiscible activity but a combination of other sectors (Wild & Dearing, 2000). That’s why the overall estimation and evaluation of the sector demands data from different but related sources. The breadth of data is wide and specialized. The implementation of a suitable methodological tool, such as the Tourism Satellite Account (TSA), will allow a thorough and accurate evaluation of cruising economic impact on the major macroeconomic values, and finally will reveal to useful results. Since the TSA tables require information with economic value, primary researche has been conducted in order to collect necessary data. The paper concludes by presenting the impacts of Cruising on the major macroeconomic values of the Greek economy.
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