As pessimism continues over the upcoming tourist season, worried Greek hoteliers have been cutting prices offered to German tourists, as well as offering other incentives, in a bid to hold on to their existing market share.

Germany is a key source of visitors for Greece’s tourism market, corresponding to about 20 percent of the economy.

During a series of meetings held at the ITB exhibition in Berlin, the world’s largest travel and tourism event that was held last month, Greek hotel owners reduced prices offered to tour operators, while also offering them special deals, in an attempt to lure travellers to the country’s shores.

Greek authorities and officials are hoping to contain this year’s drop in German tourists visiting the country on organized trips to 20 to 30 percent, according to sources.