BOOKING ACCOMMODATION AND INCREASE AVIATION

Positive is the figure for the first quarterby ELSTAT

Editing: Dimitris Stamoulis

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The Turnover in the Services sector of Accommodation and Food of the first quarter 2015, compared to the corresponding index of the first quarter 2014, increased by 6.0% against an increase of 44.9% recorded when comparing the corresponding year period 2014 to 2013, according to recent data of the Greek Statistical Office.
The Turnover in the Services sector of Accommodation and Food of the first quarter 2015, compared to the corresponding index of the fourth quarter 2014 decreased by 29.9% against a decline of 19.2% recorded when comparing the corresponding period of the year 2014, reflect the intense seasonality of the sector.

Chart 1: Evolution of the Turnover Index in Services Sector Accommodation and Food Supply (2010 = 100.0)

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Regarding the turnover indices in transport, increase presented by the air transport index and work in travel agencies, tour agencies, reservation service. These data show a very positive picture of the tourist arrivals in this year’s tourist season.

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Specifically,
- The Turnover in land transport and transport via pipelines of the first quarter 2015, compared to the corresponding index of the first quarter 2014 decreased by 3.9%, against a decline of 2.3% recorded when comparing corresponding period of 2014 to 2013.
- The Turnover waterways of the first quarter 2015, compared to the corresponding index of the first quarter 2014 decreased by 5.2%, against a decline of 18.8% recorded when comparing the corresponding period of the year 2014 to 2013.
- The Turnover in air transport of the first quarter 2015, compared to the corresponding index of the first quarter 2014, increased by 3.1%, against an increase of 0.5% recorded when comparing the corresponding period of the year 2014 to 2013.
- The Turnover Index in warehousing and support activities for transportation of the first quarter 2015, compared to the corresponding index of the first quarter 2014, increased by 9.6%, against an increase of 6.0% recorded when comparing the corresponding period of 2014 to 2013
- The Turnover Turnover travel agencies, tour agencies, reservation service and related activities of the first quarter 2015, compared to the corresponding index of the first quarter 2014, increased by 23.0%, compared with 11 3% recorded when comparing the corresponding period of 2014 to 2013.

Workshop to develop exports

Practical steps for Athenian business

IMERIDA

Workshop on the export performance of the Athenian business conducted last March by the Center for Entrepreneurship Support (DPE), member of Athens Entrepreneurship Network. The Centre for Support of Entrepreneurship is an initiative of Athens aimed at genuine offer of help and support to businesses in Athens, as well as to prospective investors by providing high value added services and reliable information on the business environment at national and local level . Contractor for the operation of Entrepreneurship Support Centre is the Consortium of ICAP Group sA firms and ICAP Advisory SA.

Study results

In the last five years and in conditions of economic recession, the volume of revenues of the Greek economy by placing products and services in international markets is still increasing significantly, having supported both in export growth, and the rise of tourism (especially the last two years) . An important factor in the rise in Greek exports was, inter alia, the contraction in domestic demand which stimulated export oriented business in new markets and sectors exhibiting considerable momentum. The European Union is the country’s main trading partner, absorbing more than half of the value of Greek exports, with the trend, however, indicates a gradual diversification of target markets, focusing and outside the European continent.
The export orientation of businesses active in the wider area of the capital is limited, since according to the EU survey, about 1 in 4 firms showed export business in 2014. deterioration of the solvency of the Greek economy, the weakness of financing and international competition are the main factors limiting their export activity.

Export activities guide

In a highly globalized market with strong competition and high demands, the export business is the only way for any business that wants to be competitive and sustainable. However, exports are important to not be confused with occasional sales abroad, but be the result of organized and orderly activity.
The Guide Export Activity of the Entrepreneurship Support Center is a comprehensive manual that identifies, gathers and analyzes step by step through all the prerequisite steps to achieve in-house export readiness for successful entry and positioning in foreign markets. It is a practical tool in the hands of each operator and a potential exporter who wishes to follow an organized and methodical export activities in specific markets - targets.

The services of the Entrepreneurship Support Center

To support business in this context Entrepreneurship Support Centre provides a range of consultancy services to SMEs and young entrepreneurs of the municipality, aiming at strengthening competitiveness and extroversion.
Concerning extroversion issues, supports the City of Athens businesses with:
• counseling services for diagnosis of export readiness and organizational structure, human resources and operation
• Information on stakeholders and the targeted countries
• The opportunity to participate in business missions and exhibitions
• Targeted training programs for entrepreneurs and business executives

He broke the barrier of 21 million. Tourists in 2014

He broke the barrier of 21 million. Tourists in 2014

icap tourism

Strong growth presented by inbound tourism to our country the last two years (2013-2014) as the arrivals of foreign tourists is estimated to have exceeded the record level of 21 million. 2014. Therefore, as noted in the sector study recently released by the Department of Economic Research, ICAP Group, the contribution of the hotel industry in the national economy is significant, with total market size of hotels five, four and three star is estimated at over € 3 billion. increased at the rate of around 12% in 2014 compared to 2013.

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If one considers that Greece is ranked in 17th place in the world ranking by number of arrivals (WTO figures, 2012) The foreign tourists are the main “customer” for hotel business of our country, over 70% of total of nights in different hotel accommodations made by foreigners. According to the results of the sector study, and based on estimates of tourism agents, in 2014 is estimated to have arrived in our country about 21.5 million. Tourists, while according to Eurostat figures one notes that all of the nights made to hotel accommodation in the country ten months of 2014 exceeded the total of nights of the whole year 2013.

As noted by Senior Consultant of ICAP GROUP, Constantine Palaeologus, who edited this sector study, the two most important markets for Greek tourism product in recent years are Germany and Britain. Specifically, in 2013 in our country 2.3 million arrived. Germans and 1.8 million. British tourists, occupying a combined market share of approximately 23% of total arrivals. The countries of Europe have covered the vast majority (88% share) of the total arrivals in 2013.

Regarding the evolution of tourism revenue, they rose 14.9% in 2013 compared to 2012, while for the 10-month of 2014 amounted to approximately € 13 billion. It was formed (in 2013) to 45.2%, compared with 43 2% in 2012, while the highest average annual occupancy have 2013 hotel accommodations in Crete (60.7%).
“Without a doubt, the fact is that from 2004 and onwards, our country’s hotel infrastructure has been upgraded significantly, as a large number of hotels across the country renovated, while new units of high quality services started their operation,” said Mr. features. Paleologos.

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Regarding the number of hotel accommodation that operate in our country, in 2013 they worked 9.677 units total capacity of 401,332 rooms and 773,445 beds. It is worth noting that, in the last 10 years the hotel capacity of Greece increased by 800 units, while only for the period 2013/2010 the number of hotel beds increased by about 10,000.

In Greece hotels are divided into urban system which are located in urban centers and operate on a yearly basis and the seasonal downtime hotels (resorts), which are geographically scattered in the region and the majority are located in tourist resorts. On the allocation of hotel capacity per category and by geographic region, five hotels and four star representing around 40% of total operating beds, while intense is the geographical concentration, as in Crete, the Dodecanese and the Ionian is concentrated about half of the beds in the country.

The Director of Finance and the Sector Studies ICAP GROUP, Stamatina Panteleou notes on the significance and evolution of the industry: “The contribution of the hotel industry in the national economy is significant, with total market size of hotels five, four and three star estimated at over € 3 billion., increased by the rate of 12% in 2014 compared to 2013. Regarding the distribution of market size, four-star hotels distract the largest share in the total value, representing 45% approximately, followed by five-star hotels with a share of around 36% and three stars with 19% share. “   

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According to the results of the sector study, which covers the time 5 years 2009-2013, the highest gross profit margin (average 5 years) show the four star hotels (26.66%) and the smallest five-star hotels (14.72 %). Considering both the area and the hotel category, the highest average index 5years present the four star hotels Aegean (60.96%), while a negative value takes the index for five-star hotels in Central Greece - Thessaly (- 10.42%).        

Regarding net income margin EBITDA, the three star hotels have the highest average five-year index (21.76%). In terms of geographical area and category, the highest average price present the five-star hotels in Central Greece - Thessaly (39.02%) and the lowest of the four star hotels in Peloponnese (0.92%).

Ms. Stamatina Panteleou states that all hotel categories show an average annual return on equity index negative. The five-star hotels have the worst average five-year index (-7.7%). And among the hotels five star positive is the average index of only five hotels in the Aegean (18.18%), while among the four-star hotel, only hotels Cyclades show a positive average 5-year index (1.04%). Among the hotels three star hotels in Attica and the Cyclades show a positive average rate of return on equity (0,32% and 0,82%).

Rise in exports A quarter 2015

There remains a small contribution of exports in the resulting national product

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Significant rise by 14% yoy recorded exports of goods of our country space in January-March 2015, according to a statement today Greek Statistical Authority (ELSTAT) for the Greek foreign trade goods transactions. These exports amount in terms of their value and excluding oil, € 4.4 bn. Euro

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“It is promising that almost all major export sectors in March 2015 our exports recorded an upward trend, after a continuous decline since the end of 2013,” he said in a statement of the Exporters’ Association of Northern Greece, which however notes that it is currently only for a month climb and Greece remains a “closed” economy with a small contribution of exports in output of the country (17.3% in 2014).
The first quarter 2015, 54% of our exports (fuel) addressed to countries within EU-28 and 46% to third countries.

Chart 1. Composition Greek exports by sector, January-March 2015

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Sectoral, in all product groups other than mineral oils, an increase in the first quarter 2015, on an annual basis. Exports of petroleum products decreased in value by 26.2%, but still contribute with 29.1% share in Greek exports. Largest increase was recorded in exports of fats and oils at 256.8% and essentially returned to 2013 levels Still, growth was recorded in the following sectors: machinery (+ 33.9%), beverages and tobacco (+ 33.6%), industrial goods (+ 17.7%), various industrial (+ 9.4%), raw materials (+ 7.3%), food (+ 4.2%), chemical products (+ 0.4%). The composition of Greek exports by product groups shown in the following Chart 1, while Figure 2 shows the share of exports by sector in transactions with countries within the EU-28 and third countries.

Chart 2. Participation Greek exports by sector in EU-28 and third countries, January-March 2015

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‘Passion Investments’ jewelery

Large returns for global millionaires

Can older passions zaplouton the planet usually about art, airplanes, expensive real estate, travel and golf, but increasingly multiply all those Croesus who discover that the luxuries and pleasures of life can also be profitable biznes. It is not by chance that the jewelry, watches, art, wine, etc., Or otherwise and the so-called “investments of passion”, even increased dramatically in recent years, according to Knight Frank.

Over the last decade whoever from the rich of this world have invested in jewelry had yields 154%, watches 82% in Chinese ceramics 77% in wines 176%, 456% in cars, on stamps 250% and 227% in currencies. Moreover, while a portfolio may lose part of its value in one night, in the “investments of passion” even after a fall can continue to enjoy them. As mentioned example art directors, millionaires customers accept that even if they have spent five million. Euro is a collection of elaborate jewelery from some auction Sotheby’s or Christie’s, their value can eg to decline by 20% due to falling prices of precious metals and stones, but at least, as they say, will have a masterpiece of the art of jewelery securely stored in your safe.
The global indicator that reflects trends in wine (Livex 100) increased by 176% over the last ten years, with this gigantic market, mainly the result of increased demand from the rich Asia. On the other hand, although to buy your own sports team undoubtedly considered one of the true “passion investments”, nevertheless 50 of the largest sports club in the world today belong to the rich of this planet.
Football teams, islands, villas and super yachts are some of the wastage in which they engage, and when not traveling to exotic destinations, do not buy expensive cars and do not engage in advanced investment, resort, as it is called, in charity, having even specific preferences.
First option considered cultural associations, mainly dealing with arts, music and museums, followed by the education sector, as well love to make donations to schools and universities, and the healthcare sector.
According to research, the preferences of the rich vary depending on the region in which they live. In developed economies like the US and Europe, health and culture collect the most donations. In developing economies, in all of millionaires is education.
The self-made billionaires account for 60% of the population, 20% have inherited his property, while the remaining 20% increased the legacy. Globally called four «mega-billionaires” (Bill Gates, Carlos Slim, the Amansio Ortega and Warren Buffett), with personal wealth of over 50 billion. US dollars, are self-made. 87% of billionaires and 88% of millionaires are men.
Total also only 17% of women billionaires are self-made, with 71% having just inherited their wealth. The average billionaire has 2.1 children, a slightly lower rate than the 2.2 children millionaires. There is of course a 15% of billionaires with four or more children, while a billionaire from the Middle East has 24 children!
The cities with the most billionaires is New York, Hong Kong, Moscow, London, Mumbai, Singapore, Beijing, Paris, Riyadh and Dubai. If we now look universities from which graduated billionaires of this world, we will see that most billionaires tank (52) comes from Harvard, followed by the University of Pennsylvania (28), the Stanford University (27), the New York University (17) and Columbia University (15).

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