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Receipt losses near 5 bln in first six months as June tourism figures disappoint
EconomyMacroeconomyGreece’s travel balance came to 27.9 million euros in June from 2.36 billion a year ago, Bank of Greece (BoG) data has shown. This is equal to an decrease of 98.8 percent year-on-year (YoY).
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Pandemic's growing economic impact warrants extra support measures, funded by cash buffer
PoliticsGreek PoliticsGreece is going to tap into its considerable cash reserves to fund some of the economic support measures the government will roll out this autumn as New Democracy tries to avoid increasing the country’s public debt further.
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Officials order wider use of masks as upward trend for Covid-19 cases continues
PoliticsGreek PoliticsThe use of face masks for debates in Parliament became compulsory on Wednesday as Greek authorities try to re-instill a sense of caution in the public after seeing the number of coronavirus cases rise significantly this week.
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Tourism numbers continue to worsen as worries grow over second Covid-19 wave
EconomyFeaturesAs 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.
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Travel balance falls by 99.3 pct in May
EconomyMacroeconomyGreece’s travel balance fell to 9.1 million euros in May from 1.34 billion a year ago, Bank of Greece (BoG) data has shown. This is equal to an decrease of 99.3 percent year-on-year (YoY).
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Hoteliers staring at big drop in turnover as liquidity calls grow
EconomyFeaturesThe 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.
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Development model questioned again amid reaction to luxury resort go-ahead
PoliticsGreek PoliticsThe construction of a large resort complex in Corfu on land ceded as part of Greece’s privatisation programme has ignited tension between the government and the local community.
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Summer season looks under threat as revenues fail to materialise
EconomyMacroeconomyGreece’s efforts to restart its vital tourism sector and capture revenues from the peak which usually takes place between June to September appear to be faltering according to the latest data.
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Higher Covid-19 numbers spark concern as tourism sees little benefit from visitor arrivals
PoliticsGreek PoliticsPrime Minister Kyriakos Mitsotakis is due to chair a meeting with key ministers and aides on Monday to discuss the latest developments on the coronavirus front as concern grows in Greece about the coronavirus flaring up in the coming weeks.
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Rise in "imported" Covid-19 cases a source of jitters for tourism industry
PoliticsGreek PoliticsWhile reopening Greece to tourism was eagerly anticipated as a potential remedy for some of the economic impact of the pandemic, the realities of managing inflows of visitors safely are slowly becoming apparent as the number of coronavirus cases in the country rises.