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Economy

Hospitality Sector Lost €7 Billion in Turnover in 2020

February 19, 2021

ATHENS — Enterprises in the hospitality sector suffered a loss of 7.0 billion euros in their turnover in 2020 hit by the pandemic, with hotels losing 4.7 billion euros, Hellenic Statistical Authority said on Friday. More specifically, turnover in the hotel industry totaled 2,303,658,141 euros in 2020, down 67 pct from 2019 (6,991,184,282), with Karpathos recording the biggest drop (-83.5 pct) and Florina the smallest (-14.3 pct).

The restaurant industry recorded a turnvoer of 3,773,850,833 euros in 2020, down 37.7 pct from 2019 (6,059,184,851), with Mykonos recording the biggest percentage decline (-73.3 pct) and Korinth the smallest (-17.3 pct).

In the fourth quarter of 2020, turnover in the hotel industry fell 50.8 pct to 409,330,420 euros, compared with the same period in 2019, with Kastoria recording the biggest decline (-75.3 pct) and Chios the lowest (-8.3 pct). Ikaria recorded a 2.9 pct increase in turnover. In the resturant sector, turnover totaled 716,414,682 euros in the fourth quarter, down 46 pct from 2019, with Kastoria (-65.7 pct) leading the fall, while Kea-Kythnos recorded a 17.9 pct increase.

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