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Online Travel Ecosystem Index: Travel Likes Greece's Election Too
Analysts: Tim Mullaney
PhoCusWright's Ecosystem Index | Published: July 2012

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Publication Summary

On the surface, the Online Travel Ecosystem Index has had a quiet month. Under the surface is the usual roiling of individual stocks and, in particular, the swings of Priceline.com in response to events in Europe.The election in Greece on June 17 was well-received by the market because it put off the prospect that the left-wing Syriza party might repudiate the bailout deal reached in February. The deal would keep the government making interest payments on its debt while imposing over €5 billion a year in budget cuts - in Greek terms, enough to make a huge difference, as unemployment remains near 22%.