GDP and Tourism

Chapter 12-2 Greece

Greece Today

Sit with your color! Bellwork: Read the article

in the folder on your desk. Do what your “ticket”

says. Examine the next political

cartoon. Read the article about

A country’s debt Budget surplus Budget deficit

Greece’s Flag

Greece TodayBurrito Book page 3.***If a country spends

___less__ than it takes in (through taxes), it is called a budget surplus.

***If a country spends ___more__ than it takes in (through taxes), it is called a budget deficit.

A budget deficit means that a country has a debt.

A debt is money that is owed.

Greece’s Economy page 295

Read the first paragraph. Why is Greece’s economy poorer than many other European countries?

Read page 295. Greece is poorer than

other European countries because of its lack of resources!

It has only a few minerals and most of the land is too rocky to farm.

Greece’s Economy Read the second

paragraph. What does Greece excel in and why?

However, Greece excels in shipping because they are located on the Mediterranean Sea and Aegean Sea.

Greece’s Economy Today Because of the history of

the Greek civilization, many tourists travel to Greece to see the ancient sites of Athens and the surrounding area.

Also, because of their historical artifacts (like the Parthenon), much of Greece’s economy is also supported by tourism.

Political Cartoons!!

However, Greece currently is going through a financial crisis.

Examine the following Political Cartoons:

1. “Parthenon for Sale”2. The Greek Economy3. Greek Piggy Bank4. Germany’s leader holding up

the EU and GreeceGreece has a huge budget

deficit that it is struggling to pay back.

EU = European Union. It’s a group of countries in Europe that work together.

What does the artist say about the Greek economy?

In the real world….. Since tourism REALLY

helps local businesses, could this be the reason why….

Nashville, TN is spending millions of dollars to build a big convention center?

Cities all over the world try VERY hard to host the Olympic Games?

You see television commercials advertising for you to come to their state, country, or city?

Greece’s economy today Shipping and

tourism have helped Greece’s GDP (Gross Domestic Product) but today, Greece is still struggling to pay its deficit.

GDP is the value of all the goods and services produced in a single year.