Covid-19 Impact on tourism economy

Two studies released by INSETE reveal the significant role the tourism sector had on growth and employment in Greece in 2019, before the Covid-19 outbreak.

July, one of the three main months for tourism in Greece, saw the number of inbound arrivals plunge by 85.4%, impacted by the Covid-19 pandemic.

Lufthansa has announced a permanent, group-wide capacity cut of 150 aircraft and a further reduction of staff.

Greece saw revenues from inbound tourism nosedive during the first seven months of the year, according to data provided by the Bank of Greece.

The Region of Central Macedonia in northern Greece is looking to redefine its brand strategy and prepare for the 2021 tourism season.

Hybrid events combining live participation and a virtual component are gaining ground and set to become the next big thing in MICE events.

Over 20 travel and tourism bodies are calling for the European Commission to replace quarantine restrictions with a common EU testing protocol for travel.

Ryanair will cut its October capacity by a further 20%, due to damage caused to forward bookings by continuous changes in EU government Covid-19 travel restrictions.

The OECD has revised its outlook for 2020, predicting a smaller recession of the global economy and slightly greater potential for growth.

Divergent Covid-19 restrictions across Europe have hindered all efforts to reverse the slowdown in air travel caused by the Covid-19 pandemic, says Eurocontrol.

Occupancy rates at hotels in Thessaloniki reached only 20% in August, according to the city’s hotels association president, Andreas Mandrinos.

Greece will emerge as one of the hardest hit economies by Covid-19 due to the impact of restrictions on tourism, its main revenue-generating industry, says a DBRS Morningstar report.

Covid-19 lockdowns during the January-June 2020 period had a massive impact on international tourism with arrivals showing a 65% drop when compared to 2019.

“Greek tourism remains strong… but 2021 will be a year of survival,” according to Hellenic Hoteliers Federation President Grigoris Tasios.

Fraport Greece has completed renovation and upgrade works at 11 out of the 14 Greek regional airports it manages and operates.

Israel will go into a three-week national lockdown from Friday due to a surge in confirmed Covid-19 cases.

The Greek tourism sector is expected to see travel receipts from abroad add up to only between €3.5-4 billion for 2020, compared to over €18 billion in 2019, due to …

The Olympic Yacht Show 2020, which was to take place in Lavrio, Attica, in October, has been postponed due to the Covid-19 crisis.

Passenger traffic numbers in Greece are down for the sixth consecutive month following the disruptions in air travel caused by Covid-19.

A total of 115 destinations around the world have eased travel restrictions in response to the Covid-19 pandemic, according to the UNWTO.