Coronavirus: Greek Tourism estimated revenue losses at 10 billion Euros

According to Ernst and Young, the Greek tourism industry will lose at least ten billion euros this year. At the same time, Greek hoteliers are expected to suffer damage of 4.46 billion euros or 3.26 billion for seasonal and about 1.2 billion for hotels that operate all year round.

Based on data from the World Travel and Tourism Council (WTTC), EY analysts concluded that the consequences of the coronavirus pandemic could be five times worse than at the height of the crisis in 2008.

The report adds that, according to all three scenarios, the most significant drop is expected in the second quarter of the year and will amount to 53 percent.

According to EY analysts, a possible extension of the tourist season will not compensate for the losses. Still, proper regulation of the epidemiological situation in Greece could give it an absolute advantage in the tourist market sector in the future.

Current Travel Restrictions

All visitors originating from EU/EEA Member States that are in the EASA affected area list or from Italy, Spain, Netherlands, or Sweden are subject to tests upon arrival at Athens airport until June 30th. An overnight stay is required. If the test is negative, the visitor will be allowed to proceed to their final destination. However, should the test be positive, the visitor is quarantined under supervision for 14 days. All visitors arriving into the Thessaloniki airport until June 30th are tested upon arrival. All passengers, air, land, or sea are subject to random tests upon arrival.

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