According to the Bank of Greece, travel receipts fell by € 7.86 billion to € 1.25 billion in January to July 2020. This is a decline of 86% compared with the same period in 2019. This is directly linked to the flight restriction and COVID Pandemic measures that were introduced in March 2020
Athens, Greece: 22 September 2020
The Bank of Greece splits the data on tourism receipts in Greece as follows:
84.6% decline in receipts from EU-27 residents, which amounted to € 737 mln
87.4% decrease in receipts from non-EU residents, which amounted to € 515 mln.
Some indicative declines in receipts include:
Germany by 85.4% to € 212 mln
France by 89.1% to € 61 mln.
United Kingdom by 92.1% to € 103 mln
United States of America by 89.7% to € 63 mln.
The travel revenue is directly linked to the decreasing number of inbound visitors which fell by 80.1% to 3.006 million in January – July 2020. According to the Bank of Greece, visitor flows through airports declined by 84.1% and visitor flows through road border - crossing points fell by 70.6%.
Navigator Consulting has been reporting extensively on the risks and impacts of COVID-19 on the tourism sector in Greece. We support clients restructure their operations to prepare for COVID-19 and wider unfolding risks and opportunities in the region.
For further information, please contact:
Philip Ammerman
Managing Director
Sources:
Greek Travel Pages. 21 September 2020
Bank of Greece. 22 September 2020
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