Covid-19 Impact on tourism economy

Hotels and restaurants in Greece saw turnover make a strong recovery in September and in the third quarter of the year compared to 2020.

The South Aegean islands, which include Rhodes, Mykonos and Santorini, broke all records this year attracting over 3 million visitors.

The International Air Transport Association (IATA) has released a blueprint with simple, predictable and practical measures needed to facilitate the safe and efficient return of international travel.

Greece saw travel receipts increase by 139.3% in the first nine months of the year, generated by the number of inbound travelers, according to BoG data.

Airports across Greece reported a 69% increase in traffic flows between January and October 2021 compared to the same 10-month period in 2020.

Travelers are planning early and booking longer stays for the 2021 Christmas holidays, according to Expedia Group’s recent Travel Recovery Trend Report.

The International Air Transport Association (IATA) recently announced a moderate rebound in air travel in September 2021 compared to August’s performance.

Greek tourism may have performed better than expected this season, but the country’s hotels still have ‘a long way to go’, says HHF’s Grigoris Tasios.

The European Commission has revised its outlook for growth in Greece to 7.1 percent from its previous estimate of 4.1 percent.

Greece led the way in tourism recovery this summer but overall the ETC does not expect travel in Europe to recover pre-pandemic 2019 levels until 2024.

The European Travel Agents’ and Tour Operators’ Association (ECTAA) is urging the EU to strengthen travellers rights in areas not addressed by the existing Package Travel Directive.

Greece’s year-round city hotels are preparing for a ‘heavy winter’ as the various segments of business travel, mainly conferences, have yet to recover due to Covid-19.

More than 13 million people visited Greece by air and road through to September generating until August 6.5 billion euros, according to data by INSETE.

Greece may have exceeded tourism forecasts for 2021, but hotels are still up against limited liquidity, says SETE President Yiannis Retsos.

Tourism recovery in Europe in the aftermath of Covid-19 is expected to be long and tedious, according to a Euromonitor report presented at WTM London.

The Greek economy can grow at a rate of 5% in 2022 if the tourism sector continues its strong performance, according to Bank of Greece Governor Yannis Stournaras.

The Greek Tourism Ministry is looking to promote off-season travel and new destinations in Greece after the sector managed to achieve its goal for 2021.

Demand for Greece is growing among travelers from Poland, which is evolving into a major source market, according to the Greek National Tourism Organization.

Athens International Airport (AIA) is seeing a gradual growth in passenger traffic although numbers are still lagging behind compared to 2019.

Worldwide business travel spending is expected to reach two thirds of pre-pandemic levels by 2022, says a report by the WTTC and McKinsey & Company.