Losses from Thomas Cook at 2.5 bln euros by 2020

The cost to the entire Greek economy of UK tour operator Thomas Cook's collapse will come to some 2.5 billion euros, or about 1.4 percent of the country's gross domestic product, according to a study by the Hellenic Chamber of Hotels.

The sum of 2.5 billion is made up of the following:

A survey carried out among hoteliers by the Institute for Tourism Research and Forecasts (ITEP) showed that the oldest tour operator in history has run up some 190 million euros in obligations and losses following its demise. If other forms of accommodation are included, that figure climbs to 221 million euros. Factoring in the arrivals of other tour operators that used Thomas Cook aircraft, the total obligations and losses in the accommodation domain add up to 315 million euros.

Another set of losses put at 516 million euros are projected for the hotel sector for next year;...