Published on Wednesday, February 13, 2013
More than 200 Greeks have raised £12,000 to pay for a billboard in London's Piccadilly Circus promoting Greece as a tourist destination.
The money to rent the prime advertising space for two weeks was raised through crowdfunding using the online platform www.loudsauce.com.
Crowdfunding is where individuals pool their money, usually via the internet, to support a collective cause.
Founded by Greek entrepreneurs Yorgos Kleivokiotis, Onic Palandjian and Stathis Haikalis, the campaign, tagged 'Up Greek Tourism' is a grassroots mobilisation effort run entirely by Greek volunteers.
The design for the billboard, developed by Greek graphic designer Charis Tsevis, is a photo montage of people who donated to fund the campaign.
London is the third city to host the crowd-funded Greece tourism billboard after New York and Washington.
Katerina Spetsiou, project manager for the London campaign, said: "We are delighted to be able to put Greece Tourism on display in one of the world's most visited places.
"We understand that these are financially difficult times and greatly appreciate people's contributions; but most of all we feel touched by their love for Greece.
"Thanks to everyone's generosity, we can contribute to our country's economy by helping boost tourism at a time when it's most needed."
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The recent insolvency of Low Cost Travel Group, one of the large players in the travel industry had a big impact on the travelers, hotels and all related players from both wholesale & retail arms. There were about 27,000 people on a holiday who had booked through the company comprised of a €200 million wholesale arm and €500 million OTA / retail arm.