x

Economy

Greece Post COVID-19 Pandemic Tourism Recovery 2-3 Years Off

ATHENS – Hoping for a big bump when tourists with vaccinations or free of COVID-19 will be allowed in starting May 14, Greece's comeback for tourism could take until 2024 for a full recovery.

That was the finding in a market research and opinion poll taken by agency Metron Analysis for hospitality company DHR Services which indicated just how much the Coronavirus has taken out of the economy and tourism.

Visitors bring in as much as 18-20 percent of the Gross Domestic Product (GDP) of 165.97 billion euros ($200.3 billion) and is the biggest employer, the pandemic breaking a record run of years.

It will take even longer for business trips and conventions to take hold with international air travel only now starting a slow recovery and the pandemic ironically seeing many companies moving to remote work and fewer trips.

At the same time there are encouraging signs, with major hotel chains and luxury resorts already building in Greece and on the islands and planning to e in position for a post-pandemic potential boom when people are crazy to travel.

Most respondents agreed this summer will still be a down period for tourism but  better than 2020 when it ground almost to a halt, air traffic stymied and people too afraid to fly, and cruise liners sidelined.

Only 5 percent believe demand will recover to pre-pandemic levels within sixth months while 21 percent think a recovery for tourism will happen in 2022, 21 percent by 2023 and 5 percent past that.

Flexible cancellation policies could provide an incentive for people who otherwise won't want to travel in worry they won't be able to and then couldn't get their money back or make alternate arrangements.

Hotels have added extra layers of health protection with disinfection and many offer outdoor dining areas as well, with inside eating forbidden for now but possibly being allowed in May.

RELATED

NICOSIA — The European Union has earmarked 657 million euros ($736 million) for the construction of a a 2,000-megawatt undersea electricity cable that will link the power grids of Israel, Cyprus and Greece, Cypriot Energy Minister Natasa Pilides said Thursday.

Top Stories

Associations

ASTORIA – The Pancyprian Choir of NY held its first meeting of 2022 and shared best wishes for the New Year with their annual cutting of the traditional vasilopita at Dionysos Taverna in Astoria on January 24.

Associations

BRONX, NY – In a festive atmosphere, the traditional cutting of the vasilopita was held by the Northern Chios Society of Pelineon Agia Markella in the community hall of Zoodohos Peghe Greek Orthodox Church in the Bronx on January 23.

Society

ATHENS – A major snow storm that had been predicted for days still caught residents in Greece offguard and the New Democracy government scrambling for answers as to why motorists were stuck for hours on major roads.

Video

Democrats Eye Supreme Court Pick to Revive 2022 Prospects

Democrats stung by a series of election year failures to deliver legislative wins for their most loyal voters hope they'll be buoyed by the prospect that President Joe Biden will name the first Black woman to serve on the Supreme Court.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.