Strict movement restrictions around the world not only wiped out passenger travel demand, but also nearly wiped out all travel revenue for Greece in April, according to Bank of Greece figures.
Provisional figures show travel receipts stood at €7 million in April, compared with €544 million in the same month last year, or a drop of 98.7%, Greece’s central bank reported on Monday.
“The fall in travel receipts resulted from a 96.2% decline in inbound traveler flows and a 62.2% decrease in average expenditure per trip,” the Bank of Greece said.
Greece’s economy depends heavily on tourism, which directly and indirectly accounts for around 20% of annual gross domestic product (GDP).
Travel receipts in the four months from January to April dropped 51.4% from a year earlier, the Bank of Greece said, with a 36% drop in the number of people arriving in the country.
A total of 38,000 people entered the country in April, a 96.2% fall compared to the same month last year.