ECONOMY

Targeting half of last year’s revenues

targeting-half-of-last-year-amp-8217-s-revenues

The tourism industry considers that it has lost not only the last quarter of 2020 but also the first of 2021, and if the situation with the pandemic evolves favorably, then the sector could recover 50% of the revenues it had in the record year of 2019, Greek Tourism Confederation (SETE) President Yiannis Retsos estimated on Wednesday, based on projections by air carriers and tourism enterprises.

He went on to say that the measures taken so far this year have created a safety net for workers and supported enterprises, but have not healed their wounds.

“The first major objective is for the extension of the support measures until at least March 2021,” said Retsos. He described the value-added tax reduction as particularly important, if temporary, “although the decision about one’s holidays is not a matter of price right now.” However, when the markets reopen, competition will be fierce: “Italy and Spain, when they bounce back, will offer particularly competitive prices and rebound immediately,” he stated.

Retsos stressed the minimal effect that tourism has had on the spread of the virus, praising the monitoring system at airports.