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.


ATHENS - Amid complaints that letting rich foreigners qualify for Greek Golden Visas by buying property has dried up supplies and driven up rents and purchase prices, more investors want to take advantage of putting money in bank deposits.

Top Stories


A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.


1 of 2 Abducted Louisiana Children is Found Dead in Mississippi after Their Mother is Killed

JACKSON, Miss. (AP) — A Louisiana woman was found dead in her home Thursday, and her two young daughters were abducted and found hours later in Mississippi — one dead and the other alive, police said.

Licensing your intellectual property rights (IP) to a third-party as an additional source of revenue through the commercial exploitation of your IP or for expansion purposes can be an effective strategy to grow your business and extend your reach.

Cyprus and the European Parliament weren’t ready for Fidias Panayiotou, who had no qualifications to run for a seat in the 720-member body, which made him more qualified than most of the people in there.

To the Editor: Greeks are well aware that U.

Joseph Kenworthy was a British member of parliament who disliked and distrusted prime minister David Lloyd George’s Near East foreign policy and support of the Greeks.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

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