Moody’s: Greece can weather a prolonged tourism decline

2 September 2020
207 Views

Most European sovereigns, including Greece, can weather a prolonged tourism slump, Moody’s said in a statement on Monday, according to ANA.

The drop in tourism in the countries of the European South is likely to last beyond 2020, but they can weather a prolonged tourism slump thanks to the adjustment they have made in recent years and the significant support from the policies of the European Central Bank and the EU recovery fund, it said.

The European countries most exposed to the fall in tourism – due to the importance of the sector in their economies – are Portugal, Greece, Malta, Spain, Cyprus, Croatia, and Italy, according to Moody’s adding that the sector will remain weak beyond the 2020 travel period.

Despite the lifting of travel bans between EU countries, it explained, continuing consumer health and safety concerns, quarantine rules and economic recession due to the crisis means that the current downturn is increasingly likely to last beyond the summer of 2020.

Source: tornos

You may be interested

GREECE
shares1 views

Explore the “Lovers’ Cave” half an hour from Athens

Panos - Jan 27, 2021

Attica has tens of incredibly beautiful beaches along its coastline that will satisfy even the most demanding nature lover and…

Artificial eye comes closer to human eye capabilities
HEALTH
shares5 views
HEALTH
shares5 views

Artificial eye comes closer to human eye capabilities

Panos - Jan 27, 2021

A team of researchers at The Hong Kong University of Science and Technology, the University of California, Berkeley and Lawrence…

Coronavirus Greece: 842 new cases, 427 in Attica
GREECE
shares34 views
GREECE
shares34 views

Coronavirus Greece: 842 new cases, 427 in Attica

makis - Jan 26, 2021

The Greek authorities announced today 842 new cases of the new coronavirus, of which 13 were identified after checks at…

Leave a Comment

Your email address will not be published.