Covid-19 Impact on tourism economy

Posidonia 2020, Greece’s prestigious biennial shipping exhibition, has been officially cancelled for this year due to the uncertainty surrounding the Covid-19 pandemic.

Greek hoteliers are expecting to see their turnover drop by 67% this year with 6.4% opting to remain closed due to lagging demand and lack of liquidity.

Foreign investors still have a positive perception of Greece despite the coronavirus pandemic, according to the latest Ernst & Young (EY) report.

Covid-19 has impacted the Greek hotel sector taking a 350-million-euro bite out of revenues for hotels in Athens and Thessaloniki.

Greeks are concerned about the possible introduction of new austerity measures due to Covid-19, a new study has revealed.

The European Commission has approved a 3.4 billion euros Dutch aid measure to KLM to provide urgent liquidity to the company in the context of the Covid-19 outbreak.

The public’s willingness to travel is being tempered by concerns over the risks of catching the coronavirus during air travel, according to a survey by IATA.

The European Commission has revised its outlook for the Greek economy, saying prospects for 2020 in the aftermath of Covid-19 were milder than initially expected.

The Lufthansa Group has announced a second set of measures as part of its overall restructuring program in the wake of the Covid-19 crisis.

Greek Prime Minister Kyriakos Mitsotakis said he would not hesitate to take added measures to support the tourism industry should the need arise.

KLM is to receive a 3.4-billion-euro support package, backed by the Dutch State, to “weather the current COVID-19 crisis and prepare for the future”.

Twenty-two percent of all tourism destinations worldwide have started to ease travel restrictions, with Europe leading the way, according to research by the UNWTO.

Greek tourism receipts and incoming traffic took a hard hit in April after Covid-19 brought global travel to a standstill.

The Miraggio Thermal Spa Resort in Halkidiki has announced the suspension of operations for the 2020 season due to concerns regarding Covid-19.

The WTTC has presented three possible outcomes for the travel and tourism sector as a result of the local and global travel restrictions due to Covid-19.

Covid-19 brought an abrupt halt to strong momentum in Greece’s MICE industry, according to the Hellenic Association of Professional Congress Organizers (HAPCO).

Referring to 2020 as “the worst year in the history of aviation”, IATA expects the airline industry to lose $84.3 billion due to the Covid-19 crisis.

Airports and airlines will need at least three years before they begin to recover losses caused by the Covid-19 pandemic, according to a study by S&P Global Ratings.

AEGEAN said that it finds Greece’s air transport support measures as a “step in the right direction”, although limited compared to other EU countries.

Celestyal Cruises is further extending the suspension of its operations until July 30 due to ongoing travel restrictions and temporary port closures.