Tourism to fetch just 30 pct of 2019 takings

The massive reduction in demand for holiday travel by the main markets Greece draws its visitors from points to a corresponding slump for Greek tourism. The drop in spending on air travel and accommodation by German, French, Italian, British and American holidaymakers this year is expected to come to between 60 and 70 percent. That much smaller expenditure is not seen beginning before September, according to a study by INSETE.

The study by the Institute of the Greek Tourism Confederation, titled "The Covid-19 Pandemic and Greek Tourism," projects that revenue losses in 2020 will be extensive given the quarterly distribution of takings (4 percent in the first quarter, 26 percent in Q2, 59 percent in Q3 and 11 percent in Q4) and the fact that the second quarter has already been lost. "It also remains uncertain when the emergency measures in Greece and its markets will end, and...