Tourism boosted GDP by up to 33 pct in 2019, but low arrivals in 2020 could see economy shrink by 10 pct
The tourism industry helped Greece generate almost up to a third of its GDP last year, according to a new study, but the low number of arrivals this year could shave off a tenth of national output this year.
The European Commission's VAT Gap report has revealed that the European Union lost an estimated 140 billion in Value-Added Tax (VAT) revenues in 2018, equal to a total revenue loss of 11 percent across the EU.
Greece’s exports have been impacted by the pandemic, though not all markets were hit in the same way according to the latest data.
Although it has been several months since the lockdown in Greece ended, the retail sector continues to bear the impact of the coronavirus pandemic.
The government is taking measures to mitigate the impact of the coronavirus pandemic on unemployment, particularly in sectors directly or indirectly connected to the tourism industry.
The Hellenic Statistical Authority (ELSTAT) has released a set of data showing the impact of the coronavirus pandemic on businesses in Greece.
As Greece moves into its summer high tourism season, the industry continues to warn of a lost summer in terms of revenue, as cautious tourists stay away.
The OECD 2020 report on Greece highlights a persisiting lack of R&D and innovation in the economy and lower productivity compared to other countries.
The Hellenic Chamber of Hotels (HCH) has released its latest survey regarding the impact of the coronavirus pandemic on the country’s hotel industry, which shows that the hotel market has shown little sign of recovery as the summer begins.
Greece’s Foundation for Economic and Industrial research (IOBE) has presented a new study which shows that between 2011 to 2019, privatisations provided an important boost to annual GDP.