FinMin Expects €8bn in Greek Tourism Revenue This Year

Acropolis, Athens. Photo source: Culture Ministry

Greek Finance Minister Christos Staikouras is expecting Greece’s tourism revenue to double this year predicting it will reach 8 billion euros compared to 4 billion euros in 2020, adding however that it will still not be able to cover losses incurred due to the coronavirus pandemic.

In an interview to public broadcaster ERT, Staikouras said he was confident that 2021 will be much better than last year, adding that the government was making the best possible effort to improve the figure, which is very important for the Greek economy.

“In 2020, we saw 4 billion euros in revenues from 18 billion euros in 2019. This year it is estimated that revenues can double,” he said, adding that tourism-related revenue in 2021 can reach an estimated 8 billion euros from 4 billion euros last year and 18 billion euros in 2019.

The minister went on to add that support measures will gradually stop as the country exits the Covid-19 health crisis making a sufficient recovery and paving the way for development, which means the economy will have begun to operate.

Georgiadis: Vaccination certificate paves way for Greek tourism’s success

Echoing Staikouras, Investments & Development Minister Adonis Georgiadis expressed his optimism that vaccination rollouts worldwide will contribute greatly to an improved tourism outcome for Greece.

“2021 will clearly be much better for tourism than 2020. The vaccine and the millions of vaccinations around the world make us optimistic that this year we will have a much better tourism result,” said Georgiadis speaking to Newshub.gr.

The minister added that the vaccination certificate proposed by Greek Prime Minister Kyriakos Mitsotakis and approved by the EU paves the way for the success of Greek tourism. 

Georgiadis went on to cite online prebooking data, which he said demonstrates Greece’s leading position as tourism destination. 

With regard to investment activity and the utilization of the former US military base in Gournes, Crete, Georgiadis said investors from the US, Israel, UAE, and Greece had already expressed interest and that a relevant competition was proceeding as scheduled. The minister said plans for the Gournes property were similar to those in place for the development of the multi-billion Hellinikon project in Attica.

“I am certain that once the pandemic is over, Greece will be at the center of global investor interest. No investment stopped as a result of the coronavirus in 2020. On the contrary, last year there was an investment boom in our country, from Microsoft, Cisco, and Pfizer to Blackstone, Digital Realty, and HIG,” he said.