Covid-19: Greece’s Accommodation and F&B Services See Turnover Plunge in Q3

One more month in 2020, Greece’s accommodation and food & beverage (F&B) service providers saw revenues in the third quarter (Q3) of the year drop, reflecting the enduring impact of the coronavirus (Covid-19) pandemic, data released on Friday by the Hellenic Statistical Authority (ELSTAT) reveals.

According to ELSTAT, due to the significant weight these economic activities bear on the Greek economy as a whole, their monitoring “has become imperative”, given the direct and indirect adverse impact they have been subjected to due to the Covid-19 pandemic.

More specifically, Q3 turnover for accommodation services came to 1,558,171,593 euros, down by 61.4 percent from 4,034,094,834 euros in the third quarter of 2019.

Source: ELSTAT

The largest comparable decline in Q3 turnover was recorded in the regional unit of Karpathos, down by 84.5 percent, and the smallest decrease (4.2 percent) in the regional unit of Grevena. The Florina region recorded a 0.6 percent rise.

F&B service activities in Q3

Overall, third-quarter turnover in F&B service activities came to 1,580,633,291 euros, weaker by 31.2 percent from 2,298,824,542 euros in Q3 2019.

The regional unit of Karpathos marked the largest decrease in Q3 turnover against Q3 2019, down by 69.5 percent.

The smallest decline (0.8 percent) was recorded in the regional unit of Serres.

Source: ELSTAT

For accommodation activities enterprises obliged to double-entry bookkeeping with data available on a monthly basis, October turnover came to 230,728,469 euros, dropping by 50.6 percent compared to the same month in 2019, when turnover was 466,840,178 euros. 

For enterprises in regional units with a contribution to total 2019 turnover greater than 0.5 percent, the largest decrease in the turnover in October was recorded on Paros, down by 85.8 percent, and the smallest decline (32.2 percent) on Kos.

With regard to F&B service activities obliged to double-entry bookkeeping with data available on a monthly basis, October turnover came to 100,173,676 euros, down by 27.7 percent against October 2019 and 138,608,519 euros.

For enterprises in regional units with a contribution to total 2019 turnover greater than 0.5 percent, the largest October turnover drop was recorded in the Sporades, down by 80.8 percent, with the smallest decrease (8.4 percent) in Xanthi.

The largest increase in October 2020 was recorded in the regional unit Evia, up by 39.5 percent.