Coordination Actions Needed to Restart Cruise and Yachting in Greece

Rebooting cruise travel and yachting in Greece and in the Eastern Mediterranean in the aftermath of the Covid-19 crisis will require carefully coordinated actions over a set period of time, said Piraeus Chamber of Commerce and Industry President Vassilis Korkidis recently.

According to Korkidis, the suspension of all cruise activity for two months, due to coronavirus-related restrictions, is expected to lead to 78 million euros in lost revenue for Greece and cost some 631 jobs.

A top economic driver, the cruise activity in Greece generates 957 million euros in revenues every year, keeping 11,231 people employed and offering 213 million euros in salaries.

Photo © Anthony Kitsopoulos

Citing the latest data, Korkidis said that for every 1 percent reduction in cruise activity in Greece, 76 jobs are at risk. He added that a single day of suspended cruise ship activity could endanger up to 17 jobs. In total, the two-month suspension period due to the coronavirus pandemic has cost Greece losses to the tune of 119 million euros endangering 1,009 jobs (and 22 million euros in wages).

In the meantime, many companies active in cruise travel and yachting are unable to restart activities in the coming period.

Photo Source: @Vassilis Korkidis

Indicatively, the Association of Cruise Ship Owners and Maritime Agencies (EEKFN) said it would take approximately two years before the sector recovers with some 280 cruise ships having halted all activity at the moment.

Korkidis concluded by urging the shipping, tourism and economy ministries to support both the cruise sector and all forms of marine tourism so that they can remain competitive in the immediate and long term.