Greece’s tourism sector is predicted to recuperate subsequent summer following a dramatic fall in revenues as a result of coronavirus pandemic this yr, a senior trade official stated on Tuesday.
Tourism is the principle driver of Greece’s financial system, accounting for about 20% of its output and using one in 5 staff.
How the sector fares is essential for the nation which emerged from its third worldwide bailout in 2018 after a decade-long debt disaster.
Yannis Retsos, head of the nation’s tourism confederation (SETE), stated tourism revenues this yr had reached Four billion euros, down from 18 billion in 2019, resulting from world journey restrictions to comprise the unfold of the coronavirus.
Greece expects its financial system to shrink by about 10 % this yr and is pinning its hopes within the second half of 2021 for an financial recovery.
“We need to wait for the second half of the year to see some sort of action in tourism,” Retsos informed a Greek radio station.
“Anything we see from May on would be a very positive surprise,” he stated.
Based on the most recent official knowledge from the Bank of Greece, tourism arrivals fell 76% within the January-to-October interval.
Greece has reported 135,931 infections because it documented its first case in February and 4,672 deaths. The nation has been in a nationwide lockdown since early November and allowed solely hair salons and bookstores to reopen for the Christmas season.
(This story has been revealed from a wire company feed with out modifications to the textual content.)
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