Tourism

Travel takings seen at €8 bln this year

The government has received an estimate of 8 billion euros in revenues from incoming tourism in 2021. This is a scenario based on detailed studies by experts that rely on certain parameters which remain quite uncertain.

If that scenario does prove correct, it will signal the recovery of about 40% of 2019's record revenues, and a 100% rise on the figures recorded in 2020.

Tourism revenues in Cyprus fell 85% in January-October

The Cyprus tourism sector saw an 85.1% drop in revenue over the first 10 months of the year, data released by the Cyprus Statistical Service (CyStat) on Wednesday showed.

Between January and October 2020, revenue from tourism is estimated at 376.3 million euros compared to €2.53 billion in the corresponding period of 2019, recording a decrease of 85.1%.

Greece hoping for tourism recovery from summer 2021 after pandemic slump

Greece's tourism sector is expected to recover next summer following a dramatic fall in revenues due to the coronavirus pandemic this year, a senior industry official said on Tuesday.

Tourism is the main driver of Greece's economy, accounting for about 20% of its output and employing one in five workers.

Heavy toll for Greek tourism

The Greek economy's great dependence on tourism and the global slump in tourism flows this year was the main reason observers put the country's economic contraction estimates for 2020 at 9-10%, a new report by Ernst & Young Greece notes.

Tourism investment openings

There are significant investment opportunities in several sectors of the Greek tourism market, especially in the upgrading of hotels and the construction of new ones, establishing specialized forms of tourism and the construction of parks organized around specific themes, such as wildlife or history, and marinas, Tourism Minister Haris Theocharis said in his address to the online 22nd annual Ca

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