Fears of tourism sector cancellations due to coronavirus

Concerns mounted Tuesday about the potential repercussions of the coronavirus (Covid-19) on Greece's economy and particularly on the tourism sector amid reports of cancellations by foreign visitors.

One hotelier alone on Tuesday reported cancellations by 17 groups as travelers changed their plans due to concerns about the virus' spread in Europe. Smaller businesses have painted a similar picture, while several conferences have been called off. 

Although the cancellations are not yet at a worrying level, bookings are lower than the same period last year. Experts estimate a 20 percent drop in the second quarter. 

Development Minister Adonis Georgiadis said that the damage to the economy is not significant yet but authorities will be monitoring the spread of the virus and respond accordingly. 

However, Greece's Fiscal Council said the virus' spread across...