Greece: In May 2020 travel receipts declined by 99.2% year-on-year

Travel receipts declined by 99.2% year-on-year, in May 2020, a Bank of Greece report shows. In more detail, receipts from residents of EU27 countries fell by 99.5% to €4 million, while receipts from outside the EU27 decreased by 98.7% (May 2020: €9 million, May 2019: €683 million).

The lower receipts from within the EU27 were due to decreases in receipts from euro area residents by 99.7% to €2 million (May 2019: €721 million) and in receipts from residents of non-euro area EU27 countries by 97.8% to €3 million.

Among major countries of origin, the only receipts recorded were from Germany and were very low (down by 99.8% year-on-year).

In January-May 2020, travel receipts totalled €614 million, down by 78.5% relative to the same period of 2019.

This development was driven by an 83.1% decline in receipts from residents of EU27 countries, which came to €240 million, and by a 72.1% drop in receipts from residents of non-EU27 countries to €372 million.

In particular, receipts from euro area residents decreased by 83.9% to €193 million, while receipts from residents of non-euro area EU27 countries fell by 78.8% to €47 million.

Specifically, receipts from Germany dropped by 89.8% to €50 million and receipts from France fell by 91.3% to €15 million.

Turning to non-EU27 countries, receipts from the United Kingdom dropped by 86.2% to €51 million and receipts from the United States decreased by 76.4% to €60 million.

Receipts from Russia also decreased, by 77.2% to €11 million.

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