Greek Tourism Revenue falls by 76.5% in 2020

The Institute of the Greek Tourism Confederation (INSETE) released a report on Greece’s tourism industry in 2020. The report reveals that income from tourism fell by 76.5% in 2020, to € 4.2 bln.

Athens, Greece: 3 March 2021

According to the INSETE Report:

The number of inbound visitors to Greece fell by 76.5% to 7.3 mln in 2020 compared to 31.3 mln in 2019.
In 2020, international arrivals at Greek airports fell to 5.9 mln, a 72.5% decline over 2019.
International road arrivals in 2020 fell to 2.6 mln, a decline of 78.7% compared to 2019.
Inbound passenger traffic on ferry lines between Greece and Italy decreased by 70% in 2020 to 450,000 passengers, compared to 1.5 mln in 2019.
Cruise arrivals reached 64,000 passengers in 2020, or 99% lower than 2019, when the number of passengers was 5.5 mln.
The number of domestic travelers in coastal shipping decreased by 50% when compared to 2019.

The Institute for Tourism Research and Forecasts (ITEP) reported that hotel revenues dropped to € 1.8 bln in 2020, or 78.1% less than in 2019.

Navigator Consulting has been reporting extensively on the risks and impacts of COVID-19 on the tourism sector in Greece and Cyprus. We support clients restructure their operations to prepare for COVID-19 and wider unfolding risks and opportunities.

For further information, please contact:

Philip Ammerman

Managing Director

info@navigator-consulting.com

Sources:

INSETE: Greek Tourism 2020 Performance in Numbers

Greek Travel Pages: 3 March 2021

A report on Greece’s Tourism Industry

INSETE. 3 March 2021

Greek Hotel Turnover Declines by 78% in 2020

Navigator Consulting. 18 January 2021

COVID Update: Winter of Discontent