Spyros Theodoropoulos, Chairman, Hellenic Federation of Enterprises (SEV); Eftychis Vassilakis, Chairman, AEGEAN and CEO, Autohellas SA; and Aristotelis Panteliadis, Chairman & CEO, Metro S.A.
DELPHI, April 11 – The ongoing trade tensions between the United States and Europe have not yet affected tourist flows from the U.S. to Greece, according to AEGEAN President and Autohellas CEO Eftychis Vassilakis.
Speaking at the 10th Delphi Economic Forum, he emphasized that Greek tourism continues its upward trend in 2025, according to early-season indicators.
“Any effects for now seem limited to traveler sentiment,” Vassilakis said during a panel discussion on tourism, trade, and industry.
“From what we’re seeing so far, U.S. arrivals to Europe remain unaffected – likely because the U.S., as the aggressor, appears to be in a stronger position. It’s actually flows to the U.S. that may be seeing more impact.”
He added that, in Greece’s case, the seismic activity around Santorini earlier this year had a more noticeable short-term effect on bookings than global trade disputes.
AEGEAN President and Autohellas CEO Eftychis Vassilakis.
Vassilakis also touched on the broader business and investment implications of the trade dispute, particularly in aviation.
As head of Greece’s largest airline, he noted that the imposition of tariffs on aircraft components would be damaging for both sides of the Atlantic. “It’s a self-defeating move for both the U.S. and Europe,” he said. “Airbus and Boeing source parts globally, so tariffs would only raise production costs without benefiting either manufacturer.”
Speaking in his capacity as CEO of car rental company Autohellas, Vassilakis added that the situation in the automotive sector is more uncertain. “Cars are not imported into Greece from the U.S., so there’s unlikely to be a direct impact – though whether there will be indirect consequences remains to be seen.”
Industry – Tourism – Trade – Services: Competitive or Complementary Sectors?
Given the title of the panel discussion “Industry – Tourism – Trade – Services: Competitive or Complementary Sectors?”, Vassilakis commented on the relationship between different pillars of the Greek economy – particularly the perceived imbalance between tourism and industry.
Referring to ongoing criticism about tourism’s significant share in Greece’s GDP compared to other sectors, he dismissed the debate as a “pseudo-dilemma” that distracts from the broader development agenda. “Tourism was the first to lift Greece out of the financial crisis,” he said.
Vassilakis highlighted that the interaction between tourism and other sectors is overwhelmingly positive, with minimal competition and a lack of alternative industries capable of driving growth. “It interacts positively with trade, construction, and other sectors – it’s not in competition with them except in workforce demand,” he said.
“Each sector should welcome the growth of another,” he added, noting that tourism’s overall contribution is beneficial “at a rate of over 90 percent.”
The 10th Delphi Economic Forum opened on Wednesday, April 9, in Delphi, Greece. Held under the theme “Realignments”, the forum brings together global leaders, policymakers, and analysts to explore pressing issues including geopolitical shifts, energy security, innovation, and sustainability. The event runs through April 12.
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